WHY LEAVE IT FOR NOW (DEFER MY PENSION?)

If you can afford to leave your pension invested, you could get a higher retirement income, especially if you’re still working and contributing.

If you have another source of income or want to support others after you’re gone, then leaving your pension invested could be the right choice for you.

Stay flexible – You can keep your options open. If you don’t need the money now, you can leave your pot invested and take it later.

Top-up your pension pot – By continuing to pay contributions into your pension. You’ll get tax relief on any payment you make, and if you’re 55 or over you’ll be able to access your money any time.

Stay invested – Your pot will have the opportunity to grow. You could benefit from potential future, tax-efficient growth, although this isn’t guaranteed.

Support family – You can pass on your remaining pot to anyone you choose, free of Inheritance Tax.

• If you die before age 75, this will be completely tax-free.
• If you die after age 75 or older, they will be able to access the pension flexibly, at any age, subject to Income Tax.

Tax rules and legislation can change. Any information given is based on our understanding of law and current HM Revenue & Customs practice as of April 2016.

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