We use cookies to allow us and selected partners to improve your experience and our advertising. By continuing to browse you consent to our use of cookies. You can understand more and change your cookies preferences here.

Your options for cashing in your pension

8 articles

People will have much more flexibility when it comes to turning their pension fund into retirement income. Which? outlines what your options are.

What can I do with my pension pot?

Last updated: Jan 2019

Pension freedoms in 2015 fundamentally changed the rules for cashing in your pensions. Understand the pros and cons of the main pension options.

Pension calculator – how much money you'll have

Last updated: May 2018

Find out how much your pension fund is likely to total using our pension calculator.

Step-by-step guide to making your pension choice

Last updated: Nov 2015

Our pension experts have set out the steps you need to take in the countdown to deciding how to take your pension income. Click on each step for timings and more information.

Income option – take out income drawdown

Last updated: Jun 2018

Learn about the benefits of taking out income drawdown. See why the people in our case study went for this option.

Income option – arrange an annuity

Last updated: Jan 2019

Discover the pros and cons of arranging an annuity. Learn why the people in our case study went for this option.

Income option – take my entire pension fund at retirement

Last updated: Apr 2019

Find out about the issues involved in taking your whole pension fund in one go and the need for advice before choosing this option.

Income option – take lump sums from my pension

Last updated: Jan 2019

Identify the pros and cons of taking lump sums from your pension. See what people have been spending the withdrawn money on.

What if I've got a final salary pension?

Last updated: Apr 2019

Learn what the pension changes mean for you if you have a final salary pension plan and why you should seek advice before considering transferring out of your scheme.

Plan your finances

Use our pension calculators to build a financial picture for your retirement.

Pension tax relief calculator Pension tax calculator Income drawdown calculator

All 5 calculators