Your Pensions Timeline

  • Get the facts
  • Talk to us and get all the information you need to know about pensions.
  • We can advise and help you choose the right type of pension to suit your personal circumstances.
  • Start your pension plan today
  • You start making payments into your plan. You can claim tax relief on contributions you pay to your plan. The amount of tax relief you get will depend on your personal circumstances.
  • Review your plan and make changes
  • If your circumstances change, you may wish to alter the amount you pay into your plan or change the funds your payments are invested in.
  • Your choices at retirement
  • When you retire, you choose how to take your benefits – whether to use your whole pension fund to provide an income or to take a tax-free cash lump sum and use the rest to provide a smaller income. Your pension provider will contact you before your retirement date to explain the options available to you.
  • Start taking your retirement income
  • You can use the money in your pension fund, after taking any tax-free cash lump sum, to buy an annuity or consider other options such as investing the balance in an Approved Retirement Fund (ARF).