Retirement products Our range of retirement income and later life mortgage products could help you achieve a more colourful retirement Retirement Income Later life mortgages Show all Saving in a pension Retirement income Later life mortgages Saving in a pension Saving for a comfortable retirement Personal pension Start saving from only £100. As a new customer you can transfer an existing pension to us. Choose from our simple range of five funds. Get up to 25% extra on top of what you save. Capital at risk. Personal pension Save with a workplace pension Workplace pension Workplace pensions are one of the most effective ways you can save for retirement. Learn about making the most from a workplace pension and the benefits of saving now. Workplace pension Combine your pensions into one place Consolidate your pensions Trace pensions you’ve lost track of. Combine your pensions in one place. Continue saving or get a retirement income, depending on your current age and needs. Consolidate your pensions Retirement income Guaranteed income for life Pension Annuity Use your pension pot to buy a guaranteed, regular income for life. Peace of mind knowing exactly how much you’ll receive and when. Take up to 25% of your pension pot as a tax-free lump sum. Pension Annuity Guaranteed income for a set period Cash-Out Retirement Plan Use your pension pot to buy a regular income for up to 25 years Could be a tax-efficient way to take cash or use as a bridge to a future date when another source of income starts. Take up to 25% of your pension pot as a tax-free lump sum. Cash-Out Retirement Plan Guaranteed income for a set period with a lump sum at the end Fixed Term Retirement Plan Use your pension pot to buy a regular income for up to 25 years, with a lump sum at the end The security of regular income for a set period, with a lump sum, to make a decision later on. Take up to 25% of your pension pot as a tax-free lump sum. Fixed Term Retirement Plan Flexible income Personal Pension Drawdown Take up to 25% of your pension pot as a tax-free lump sum. Invest the rest with the flexibility to access the remainder of your pot when you want. Personal Pension Drawdown Show Less Later life mortgages A loan secured against your home where you don’t have to make monthly payments Lifetime Mortgages A form of equity release, the amount borrowed plus interest doesn’t need to be repaid until you die or move into long-term care You can use the money to repay an existing mortgage or spend it on something else The amount you can borrow is determined by your age and property value and there’s no affordability assessment. You have the option to pay all, some or none of the interest Lifetime Mortgages A loan secured against your home where you make monthly payments Retirement Interest Only Mortgage A type of residential mortgage, the amount borrowed doesn’t need to be repaid until you die or move into long-term care You can use the money to repay an existing mortgage or spend it on something else. You can borrow up to 60% of the value of your home and need to be able to afford the monthly interest payments. As a last resort, your home may be repossessed if you do not keep up payments Retirement Interest Only Mortgage Next steps Always seek guidance first before choosing which product is right for you. Visit the Government's Pension Wise Money Advice Pension Guide Find a regulated adviser Our complete retirement service Wherever you are on your retirement journey, we can help Call us about using your pension pot Our UK colleagues can answer your questions in office hours, or can help you apply for a quote. 0808 301 5555 Lines are open Monday to Friday 9.00am to 5.30pm We may record and monitor calls. Contact us Contact us about equity release To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you. Call us on: 0808 231 4920 Monday to Sunday 8.30am to 8.00pm We may record and monitor calls Existing Customers If you’re an existing customer looking for some help find out who can best help you with your query. 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