Using your pension pot when you retire
Published: June 2024
Getting the most out of your pension when you retire.
When you retire you can use the money you’ve built up in your DC Investing Plan to provide the maximum tax-free cash lump sum. This means you don’t need to exchange as much of your DB Career Average and Final Salary pension for the tax-free cash.
You can also:
- buy a guaranteed income for life (annuity)
- take a cash lump sum (25% tax free)
You can choose one of these options or combine them.
If you would like more flexibility over your retirement income options from your DC Investing Plan, you can transfer your DC Investing Plan pension to another pension arrangement. To help with this, Unilever has set up a Master Trust arrangement. You can choose to transfer to the Fidelity Master Trust to give you more options, like taking a regular income directly from your pot while leaving some of your money invested (known as drawdown).
If you transfer your benefits to the Fidelity Master Trust you can keep your money in the same investment funds and you won’t pay fees to move it.
Find out more about the Fidelity Master Trust.
Find out more about your retirement options.
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