how money purchase and occupational schemes provide cash when you retire

• What is an annuity?  more...
• What kinds of annuities are there?  more...
• Do men and women get different annuity rates?  more...
• Are there age limits for annuities?  more...
• Can you give me some idea of annuity rates?  more...
• What rights do I have to a lump sum?  more...
• What is 'income drawdown'?  more...

further information

The rules for each kind of money purchase pension vary to some extent, but basically there are three ways of using a money purchase or personal pension scheme to provide income in retirement:

• by buying an annuity
• by taking some of it as a tax-free lump sum
• by using 'income drawdown' to withdraw (taxable) sums from it as you need them
We deal with these in the questions above.