Trustnet Direct Retirement Programme | Page 35

Approaching retirement 36 What happens at age 55? 37 Taking your 25% tax-free lump sum 38 Choosing your retirement date 39 When can you afford to retire? 40 Lifestyles in retirement 41 How to retire with an income of £1,000pm 42 How to retire with an income of £2,000pm 43 How to retire with an income of £5,000pm 44 Ensuring you get the most from your state pension 45 Your choices at retirement 46 Annuities 47 Annuities (continued) 48 Capped drawdown 49 Flexi-access drawdown 50 Uncrystallised funds pension lump sum (UFPLS) 51 Hybrid plans 52 Tax considerations 53 Investment strategies at retirement “The crops are almost ready for harvest – all the work in sowing, growing and tending is coming through to fruition.” Page 35