The value of your investment can go down as well as up and you may get back less than you paid in. Laws and tax rules may change in the future. Your own circumstances and where you live in the UK also have an impact on tax treatment.
When it comes to taking money from your pension plan, you have a number of options. You can take a cash lump sum, set up a regular income, leave it for now and keep the money invested or a combination of all three.
There’s a lot to think about, but this quick options tool breaks down all the ways you can take money from your pension plan.
Don’t worry if you’re not completely sure what you’d like to do. Simply pick an option to start learning more.
This information is based on our understanding of laws and tax rules applying from April 2021.
These can change in the future and will depend on individual circumstances.