What do you need to think about?

We could write a book on this but here are a few tips to start:-

* Whether your existing plans are private, occupational or a combination of the two, you need to think about how you get the most from those arrangements. Do they offer a guaranteed income? How much tax free cash should you take? If you were previously advised to transfer any plans to a different provider, was that advice in your best interests?

* Do you have any health problems that make an 'impaired life annuity' possible? We can help to establish whether this is possible. If you haven't already done so, you should consider moving your pension funds into safer investments in order to avoid retiring at a point when the markets have dropped.

* In most cases you will have an 'open market option'. This simply means that you do not have to buy your annnuity (pension income product) from the provider of your pension. You can shop around and it normally proves to be a beneficial process.

* Is a straightforward annuity the right option or should you be considering other alternatives such as 'unsecured pension' or 'third way' or phased? We can help to explain what the options are and advise on which is most suitable.

* If you have a spouse, how do you cater for their income needs after your death?

* How do you structure your overall affairs to pay the minimum amount of tax - Income, Capital Gains or Inheritance Tax?

Our guides on the right will give you more information on some of these points.