Pensions guides: help to navigate your retirement income options

Written by Retirement Line

Last Updated: 12th March 2024

Are you confused about any aspect of pensions? We know it can be a complex subject, with the State Pension, private pensions and workplace pensions all potentially providing your retirement income.

To help you navigate your way through it all, the team here at Retirement Line have written guides to some of the issues – with more to come: 

A guide to how the State Pension works. In our guide to the State Pension, we look at how it’s calculated, future changes to the age at which people receive it, and how you might be able to boost the amount you receive.

A guide to Pension Wise. This government-backed pension guidance service is free for anyone over 50 with personal or workplace pension pots. We explain how it works and how to prepare for your Pension Wise appointment.

How to trace lost pensions. A surprising number of people approaching retirement have lost track of their pensions over the years. Here’s how – and why – you should check for your lost or forgotten pension funds.

A guide to pension consolidation. Choosing to consolidate pension pots from multiple providers into one scheme could have several benefits. But is it a good choice for everyone?

A guide to defined contribution (DC) pension schemes. With defined contribution (money purchase) pensions you make contributions to your pension pot, which you can later  use to provide a retirement income.

A guide to defined benefits (DB) pension schemes. With defined benefit (final salary) pensions your income is typically based on your years of service and your salary when you leave the scheme.

When can you access your pension pot? This guide looks at the Normal Minimum Pension Age (NMPA), which is the age at which you can typically access your pension savings.

Please bear in mind that our pension guides are for information only and you may wish to take professional advice or guidance on your circumstances and pension options.

Explore your options

Are you over 55 and have 'defined contribution' personal or workplace pension savings? If so, you may wish to consider an annuity.

An annuity has the benefit of ensuring a guaranteed income without exposure to fluctuations of financial markets. If you’d like to explore your annuity options, Retirement Line is here to help. Our Annuity Specialists can explain more and provide you with annuity quotes from leading providers. 

You can also use our free annuity calculator to see how much income you could secure with an annuity - or call us on 0800 652 1316 or request a call back to talk to one of our friendly team today. 

Click here for your free, no-obligation annuity quote