Hear from savers like you
“It was important I could have flexibility and I got that with Smart Retire.”
Take your retirement, your way
Smart Pension lets you save and take your pension from one account, with flexible options to suit your future plans.
Flexible retirement, your way
Once you turn 55, you can start taking money from your pension. Bringing your pensions together into one account can make things much easier to manage.
With Smart Pension, you can manage your retirement savings in a way that works for you. There’s no need to move your pension elsewhere. No complicated paperwork, and no big decisions to make.
Smart Retire is your flexible option to move from saving to spending, all from your familiar Smart Pension account.
Transfer your pensions
Check your Smart Pension savings and bring past pensions together in one place for easier management.
Make a difference
There’s still time to add money to your pension and grow your savings for the future you want.
Find out how much you need
See how much to save for a minimum, moderate, or comfortable retirement with our calculator.
Understanding your options with us
With one home for your pensions, it becomes easier to decide what feels right for you. You can take a bit of your pension now, save more to take later, or cash it in for a guaranteed income.
Flexible income pot
30%
Rainy day pot
10%
Inheritance pot
15%
Later life pot
45%
Pots for each stage of retirement
Use flexi-access drawdown to take up to 25% of your pension tax-free as a single lump sum. The rest stays invested, split across four pots to suit your needs.
Flexible income pot
Take a monthly income in the early years of retirement.
Rainy day pot
Dip into this pot when you need to and it’ll be in your bank account within eight working days.
Later life pot
Leave money invested for a guaranteed income from an annuity provider later in retirement.
Inheritance pot
Put some money aside to leave behind to loved ones or causes you care about.
Other options
There are other ways you can take your pension, including an annuity or a series of lump sum payments.
Take a series of lump sums
You have the option to continue saving and withdraw lump sums from your savings when it suits you.
Annuity
An annuity turns your pension into a guaranteed income for life or a set term. The amount depends on your annuity rate and personal factors.
Your next steps
As you start to think about taking your pension, our easy-to-follow steps can help you achieve the best possible retirement.
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Understanding pensions at retirement
Manage your hard-earned money the way that suits you best.
