At retirement planning

Most people understand the need to seek advice when setting up or managing a pension. However, at Channel One we believe the most important time to get advice is when you decide to retire. The decisions you make at this stage can affect your prosperity and lifestyle for the rest of your life. And once you’ve made these decisions at retirement, you can’t go back on them. That’s why getting the right advice on maximising the value of your pension pot when you retire is absolutely vital.

Here are some of the options available at retirement:

Lifetime annuity

giving you a regular, secure income for life. After taking tax-free cash at the outset, the remainder is used to purchase an annuity which is paid for life.

Phased retirement

part of your fund and tax-free cash is used in segments, when required, to provide income. The rest of the fund remains invested to provide higher returns in future.

Unsecured pension

a tax-free lump sum is paid at the outset with the remainder staying invested to provide higher future benefits. You can choose the income you want and when you want it.

You can also choose a range of hybrid options that combine elements from these three. The right choice for you will depend on a host of factors, including the size of your fund and your retirement aspirations.