Pension basics

You can mix and match any of the options for taking each of your pension pots (or 'schemes'). You can also split or combine pension pots.

Not all pension schemes and providers offer every option, so you may need to transfer to another provider to use the option you want. Even if yours does, make sure you shop around to make the most of your money.

Think about how long your pension income needs to last. Your retirement could last for 20 to 30 years or more, so you may need to live on your pension for a long time. You may also need to factor in the cost of care and additional support as you get older.