Here's how you can take your Investment Builder savings before or after you retire

You can take your whole pot as one cash payment using UFPLS too.

The first 25% is usually tax free and there’s no charge. Make sure you’re aware of the tax charges and other implications by reading our factsheet.

If you take both your Retirement Income Builder benefits and Investment Builder Savings together, you can usually take all of your Investment Builder post as tax-free cash (depending on the size of your pot).

If your Investment Builder savings make up more than 25% of the overall value of your benefits at retirement, you can still take some as tax-free cash and the rest can be taken using one of the other options available to you.

Other pension providers may offer something different so you can transfer your savings to another pension provider at any time.

You can use your pot to buy an annuity – a guaranteed income for life – and take part of it as tax-free cash.

An annuity gives you a regular guaranteed retirement income for the rest of your life.

Use your pot to provide a flexible retirement income also known as flexi-access drawdown or just drawdown.

It’s a way of taking money out of your DC pot to live on in later life.

Useful Resources:

Taking cash payments (otherwise known as UFPLS) is one of the flexible ways you can take your Investment Builder savings. It allows you to use your savings pot a little like a bank account and withdraw up to four cash payments each year.

There are implications to taking cash payments so you should read our factsheet first.