Approaching retirement with a Prudential pension

Here you'll find important information you'll receive if you have a pension product with us.

Our Online Service makes it easy and convenient to see and service your pension plan at a time that suits you. Once registered, you'll be able to check the value of your plan, view important documents, send us secure messages and change your personal information and preferences. Registration is easy and only takes five minutes – all you need is your policy number.

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If you have a pension with Prudential, you’ll start to receive information packs from us as you get close to your 50th birthday, then every 5 years after until you reach your Selected Retirement Date. These will be issued around 4-10 weeks before each age milestone.

You’ll also receive a pack just before your chosen retirement age, whenever you request a quote or anytime you choose to take money out of your pension.

Age 50                                                                           

Receive information letter

Age 55 (and every 5 years thereafter)                       

Receive first Options Pack

4 - 6 months before Selected Retirement Date        

Receive Options Pack based on Selected Retirement Date

6 weeks before Selected Retirement Date                

Receive reminder pack

Age 75                                                                           

Receive retirement options letter and reminder

Quote / Retirement Options Pack

(available on request from age 55)

Just because you can access your savings from age 55, doesn’t mean you need to, but you should consider the options available to you and what suits your individual needs.

The age you can access your pension pot is to increase to age 57 from 2028, and will normally only affect those born after 6 April 1973.

For more information about your choices for accessing your pension please see our section on your options at retirement.

Over 55 and looking to take your pension?

Are you thinking about taking money from your pension now? Or perhaps you’re a few years away, but just want to know when would be the best time to take your money? An adviser can help.

An adviser can explain the different ways to take your money, and recommend the best approach and timings for you including how to take your money in a way that saves most tax.

We provide our customers with financial advice using a carefully selected range of products from Prudential and other providers. This is known as restricted advice.

Book an appointment

Calculators and tools to help you plan

We have a number of useful calculators and tools to help you understand how the different options could impact your retirement income, how long your money could last and how tax might affect your income.

Need more help?

We know there’s a lot to consider when planning for retirement, and it can be tricky to know where to start. To help you understand all your retirement options, we recommend speaking to your adviser or getting guidance.

Find a financial adviser

Find an independent financial adviser in your area to help you in your future pension planning.

Visit www.unbiased.co.uk and enter your postcode.

Pension Wise

Pension Wise is a free and impartial guidance service offered by the Government. They can’t make recommendations or tell you how to invest your money, but will provide information on a range of available pension options.

 

Visit moneyhelper.org.uk/pensionwise or call 0800 280 8880 to book a phone or face-to-face appointment.

HMRC

Visit hmrc.gov.uk to find out more information on tax rules and legislation which may affect you and your pension plans.