What do I need to do?

So now you’ve considered your priorities and explored your options, you might be ready to make a decision.

Your retirement savings will need to support you through retirement, which for some people can be more than 30 years. It’s important you consider all your options carefully and make the right choice for you.

AGE 50+

Preparation: Explore your options - use this website to understand the options that might be available to you.

2-6 MONTHSBefore Retirement

Request your retirement pack(s) from the pensions department.

1-6 MONTHSBefore Retirement

Speak to Pension Wise (via MoneyHelper) for free guidance on your options or an FCA registered financial adviser if you would like someone to tell you which option is best for you. A financial adviser will charge you for their time and advice.
You can find out more about guidance and advice here.


A regular income for life – Shop around for an annuity and/or speak to Hub Financial Solutions or another annuity broker.

Withdraw cash when you need it (Drawdown) – Choose the right Drawdown arrangement for you.

Take it all as cash (in one go or in stages by transferring out) – Contact the pensions department to arrange.

It's worth noting that the different retirement options have different timescales.

So how do I make it happen?


Start considering what options might be open to you from at least age 50. You will then still have enough time to make any changes;

  • Do you need to alter your contribution rate?

  • Is your account invested in the right place for you?

  • Does your target retirement age still match your plans?

  • Have you lost track of other retirement savings from previous employers? The Government’s pension tracing website can help.

Request retirement pack(s) from each of your scheme administrator(s)

It is important to look at all of your retirement savings when planning how to take your benefits.
Final salary/defined benefit quotes could take up to 3 months to produce so it is important you request these in good time.
Your final pension account value won’t be known until your last contribution has been paid (after you have left employment) and your funds have been disinvested.

Getting guidance (and/or advice)

Once you have the information about all your pension benefits, you can get some guidance or advice to discuss the options available to you and the implications of each.
As a member of a DC scheme, you have the option of having a call of up to an hour with the Government’s guidance service, Pension Wise (provided through MoneyHelper).

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