What are Pension Savings?
You can transfer money from your previous pension plans into The Retirement Account, and keep them invested as Pension Savings, protected from tax, until you need them.
You can choose at any time to move some of these funds into Pension Drawdown or Guaranteed Annuity to provide retirement benefits (including up to 25% tax-free lump sum).
You invest your money which provides you with the opportunity for growth. You can’t take regular income or withdraw money directly from Pension Savings.