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Request your UFPLS illustration and application pack

What will your illustration show?

  • The potential effects of your chosen withdrawal on your remaining pension
  • What your remaining pension value could potentially be in future years, based on assumed investment growth rates
  • The expected effect of charges on the value of your pension

We'll also send you our guide to taking lump sums to help you understand the risks and benefits, and compare other options.

Get started and enter your details below.

Your illustration is designed to help you understand how lump sums work. The figures are estimates only, based on assumptions which are explained in the illustration. What actually happens will depend on the size of your withdrawals and how your investments perform. Income isn't guaranteed.

Usually you have to be at least 55 to access your pension (rising to 57 from 2028). If you're younger we can still help you prepare for retirement, but you won't normally be able to request an illustration or application.

Your illustration - pension details

£
£

You can withdraw as much or as little as you like, but remember only up to 25% of the withdrawal will be tax free. The rest will be taxed as income. Taking large withdrawals could affect your tax status, and taking too much too soon could leave you short of income later on. Tax rules can change and any benefits will depend on your circumstances.

Your illustration will assume you're eligible to receive 25% of your lump sum withdrawal tax free. Further details on eligibility can be found in our guide to taking lump sums, which you'll receive alongside your illustration.

Your illustration – investment options for your remaining pension

If you're not planning to withdraw your entire pension in one go, and you know where you'd like to invest what's left over, please select your investments below (your illustration will be based on these investments, but they will not be taken as investment instructions). If you're unsure, or would rather not invest your pension straight away, please select 'I plan to hold everything as cash'.

If you plan to withdraw your entire pension in less than five years, holding everything as cash might be a sensible option. You won't suffer from any market falls and it's unlikely inflation will have enough time to significantly affect the buying power of your cash. But if you need your pension to last longer, you might choose to invest your money in the hope of greater returns. You don't have to invest, but remember when the interest rates you receive are lower than inflation, the buying power of cash in your pension will fall over time.

My investment choices Amount

Your application - risk questions

Before we can send you a lump sum (UFPLS) application form, we need to check you understand the risks by asking you some questions. If you complete these now, we'll send your application along with your illustration. Even if you don't want to apply right now, it's a good idea to run through these risks to help you decide if withdrawing a lump sum could be right for you.

There are 15 questions, which should take around five minutes to answer, that must be completed by the account holder. If you're unsure about any of the risks you should seek guidance or advice.

If you'd rather skip these questions for now, we'll send them to you in the post along with your illustration. You can then complete them at a later date.

Would you like to answer risk questions now?

Section A: understanding your options

You may want to consider getting financial advice or guidance. It's important that you understand the risks and options available before you start taking money from your pension.

You can get free and impartial guidance from Pension Wise, the government's pension guidance service. They can help you make an informed decision about your retirement and the options available.

You can use the link below to book an appointment with a Pension Wise pension specialist or find information about how we can book this appointment for you.

Visit our Pension Wise page to find out more.

If you already have an appointment booked to receive Pension Wise guidance you should not proceed until after this appointment.

Do you want guidance from Pension Wise?

The government offers a free guidance service to help people understand their pension options - it's called Pension Wise.

Help me book a Pension Wise appointment

Personal details


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This literature is for UK investors only. We are not authorised to send our literature to areas outside the jurisdiction of UK regulation and will be unable to send this literature to any address in the Channel Islands or outside the UK.

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