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LV= Pension Specialists

Chat to us about your pensions

Call us on 0800 032 9301

Lines open: 8.30am to 6pm Monday to Friday.

Retirement options

A fixed term annuity pays a guaranteed income for a specified number of years.

  • A sum of money is available at the end of the term
  • A higher income from an enhanced annuity if health deteriorates

An enhanced annuity pays a higher income however long you live.

  • A higher income than a traditional annuity
  • Income can continue to your partner or spouse after you die

You can take some or all of the money you have saved in defined contribution pension schemes as a cash lump sum.

  • You can take up to 25% of your money completely tax-free
  • The money is yours to spend however you'd like

An annuity pays a guaranteed income for the rest of your life (however long you live).

  • Income can continue to your partner or spouse after you die
  • A guaranteed income for life

Income drawdown allows you to keep your pension savings invested and still take money out if you need.

  • You can vary the income you take
  • Potential to grow your money if your investments perform well


Our range of videos illustrate some of the options available to you. Although they are not based on real life people, they can help you work out the best options to suit your retirement needs.