Pension based on targeting Annuity, Encashment and Flexible Access
Posted: January 8th, 2017, 11:30 am
Joined a new company from New Year and reading all the Group Personal Pension documentation.
So what I understand is that there are 2 important choices to make - the level of risk and the type of retirement income I want. I have clearly made up my mind about the level of risk based on either Adventurous, Balanced or Cautious. However, I don't have a clue right now about what type of retirement income I want from the 3 choices (Annuity, Encashment or Flexible Access) There is not a lot of documentation anywhere to advice/guide on what is the best option to go for now, based on currently being completely unaware of what I might eventually choose at the time of retirement. I checked the pensionsadvisory website. I also googled for a few terms which mainly brings up US related websites talking about everything in Dollars, so I stayed away from them, as they may not be relevant.
I have chosen Adventurous. The problem is that after having selected this risk level, I am now having to decide, do I go for -
- Adventurous Targeting Annuity
- Adventurous Targeting Encashment or
- Adventurous Targeting Flexible Access
Any guidance or input will be gratefully received!
Thank you!
So what I understand is that there are 2 important choices to make - the level of risk and the type of retirement income I want. I have clearly made up my mind about the level of risk based on either Adventurous, Balanced or Cautious. However, I don't have a clue right now about what type of retirement income I want from the 3 choices (Annuity, Encashment or Flexible Access) There is not a lot of documentation anywhere to advice/guide on what is the best option to go for now, based on currently being completely unaware of what I might eventually choose at the time of retirement. I checked the pensionsadvisory website. I also googled for a few terms which mainly brings up US related websites talking about everything in Dollars, so I stayed away from them, as they may not be relevant.
I have chosen Adventurous. The problem is that after having selected this risk level, I am now having to decide, do I go for -
- Adventurous Targeting Annuity
- Adventurous Targeting Encashment or
- Adventurous Targeting Flexible Access
Any guidance or input will be gratefully received!
Thank you!