Each payment will be treated as Pay As You Earn (PAYE) income. This means you will pay tax according to the coding given to you by HM Revenue & Customs when you submit your P45.
You can find more information about tax and pensions at www.hmrc.gov.uk/pensionersAny reference to legislation and taxation is based on Standard Life's current understanding of law and HM Revenue & Customs practice. Legislation and taxation are liable to change in the future.