Foster Denovo|My finances|Pension freedom and choice

Pension freedom – you will have more choice than ever before

How will you choose what to do with the money in your pension pot?

Following the introduction of pension freedom, if you are aged 55 years or over, you will no longer need to buy an annuity to access your retirement cash.

Typically most people approaching retirement bought a pension annuity, which provided a guaranteed income in retirement. But once purchased, it meant you couldn’t change your mind.

However, pension freedom allows you to choose how you access the money you have saved in your pension pot. The most common types of pensions affected include:

  • personal pensions;
  • group personal pensions (GPPs);
  • self invested personal pensions (SIPPs);
  • additional voluntary contribution schemes; and
  • defined benefit occupational schemes.

How we can help you

At Foster Denovo, our specialist financial advisers can discuss your options with you. And help you to make the right financial planning choices to achieve the lifestyle you want in retirement.  Whether you want to:

  • retire now;
  • postpone retirement; or
  • phase in your retirement; we can help you.

Our financial advisers can provide pension advice over the telephone or face-to-face.  There is a cost for this service but your first meeting, or call with an adviser, is at no cost to you.  Your financial adviser will always agree costs with you before carrying out any work.

What to do next

If you would like to learn more about your options, please:

call: 0330 332 7866*; or

*Calls are charged at your standard landline rate.

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Related Resource

Guide: Don’t lose out on your pension pot

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