3 things you must do now

1. Gather the facts about your pension entitlements e.g. your State entitlements, personal pensions, current and previous employer plans. (see "Key Issues About You"). This is a priority because gathering these facts can be long-winded.

2. Decide what you want from your retirement income:

Certainty. You want to make a once-and-for-all decision, with certainty and clarity about your retirement income for as long as you live, or
Flexibility. You are comfortable with less certainty about your retirement income, in exchange for greater flexibility in the future, and choices relating to investment risk, income level, and inheritability of your pension fund.

Which of these two you choose will dictate the most appropriate type of retirement income plan for you – in particular, the former will dictate that you choose a conventional annuity. Having a clear view on this now will save you going around in circles.

3. Understand about life expectancy and inflation. Understanding the trends in life expectancy, and your own likely longevity, will assist choosing a type of retirement income to suit you. You must also understand how different levels of inflation could impact on that choice. See "Key issues about your choices".

Once again, many thanks for arranging the Pension fund transfer so smoothly. Look forward to hearin...
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