How to turn your 年金 into 退職 income: A five-step guide to sorting it out
When it’s time to stop work and enjoy the freedom of 退職, you will want to make the most of the money you have saved.
That means turning your 年金 基金s into an income that can 取って代わる your salary in your younger 年金 years and into old age.
There are a number of different ways you can do this, and what 控訴s you best will depend on the type of 年金s you have, what you have saved up so far, and how much time you want to 充てる to keeping an 注目する，もくろむ on your 基金s during 退職.
You will also need to think about what you might like to do in the 早期に years of 退職, along with how long you might live and how things will change as the years pass. Unless you are in poor health, it is wise to 計画（する） for the long 称する，呼ぶ／期間／用語.?
祝賀 time: 退職 brings freedom but also important financ ial 決定／判定勝ち（する）s?
If you have a partner, you should certainly consider whether they will have enough to live on if they 生き残る you.
You typically have the 選択 of taking up to one ４半期/4分の1 of your money as 税金-解放する／自由な cash, and using the 残りの人，物 to 安全な・保証する an income for the 残り／休憩（する） of your life.
But you do not やむを得ず have to take your 税金-解放する／自由な lump sum, or anyway not all at once, and if you are 十分に 豊富な you might want to 計画（する） to leave some of your 年金 マリファナs as an 相続物件.
Here's our guide to 確実にするing you get 退職 off to the best possible start.?
1. What 年金s do you have
You will need to work out what 年金s you have, how much they are 価値（がある） and what income they might 生成する to see you through 退職.
A 重要な question here is who will take 責任／義務 for this income??
If you have a defined 利益 年金 from an 雇用者, it is their 責任／義務 to 会合，会う their 約束s of 退職 income. If you have a defined 出資／貢献 計画／陰謀, you will have been 投資するing to build a マリファナ and need to turn it into income yourself.
This is also the time to look at your 財政上の 資産s more 概して - 貯金 and 投資s and so on - and to get a 明言する／公表する 年金 予測（する） so you can 追加する these to your 計算／見積りs.
Defined 出資／貢献 年金s: These take 出資／貢献s from both 雇用者 and 従業員 and 投資する them to 供給する a マリファナ of money at 退職.
Unless you work in the public 部門, defined 出資／貢献 計画／陰謀s have now mostly 取って代わるd more generous gold-plated defined 利益 - often final salary - 年金s, which 供給する a 保証（人）d income after 退職 until you die.
Defined 出資／貢献 年金s are stingier and savers 耐える the 投資 危険, rather than 雇用者s.
You need to ask 計画／陰謀s the 現在の 基金 values, and if there are any 価値のある 保証（人）s 大（公）使館員d to the 年金 - for instance, a 保証（人）d annuity 率.
Many people 近づくing 退職 age may have a mix of defined 出資／貢献 and defined 利益 年金s.?
Taking a 税金-解放する／自由な sum from your 年金 マリファナ is a popular perk at 退職. However, you can still get 25 per cent of your 年金 マリファナ 税金-解放する／自由な?if you 選ぶ to 身を引く it 徐々に in chunks.
By not taking the whole lump sum out at once, if your マリファナ grows in 未来 you will have more 税金-解放する／自由な cash 利用できる to take in the longer run.
Defined 利益 salary-関係のある 年金s: Final salary or career 普通の／平均（する） defined 利益 年金s 供給する a 保証（人）d income after 退職 for the 残り／休憩（する） of your life. They typically also come with 利益s for a spouse or civil partner should they 生き残る you.
Unless you work in the public 部門, defined 利益 計画／陰謀s are mostly の近くにd to new 出資／貢献s. However, you might have some old ones which are now 活動停止中の but remain very 価値のある 資産s.
Having a 保証（人）d income from a final salary 年金 and a 明言する／公表する 年金 could 潜在的に cover 必須の 法案s while you take some 投資 危険 with the 残り／休憩（する） of your 貯金.
The 量 you are paid after 退職 is usually based on:
- How long you have been a part of the 計画／陰謀, known as pensionable service;
- What you earned 事前の to 退職, or over the course of your 雇用, known as pensionable salary;
- The 計画／陰謀’s accrual 率. This is the 割合 of your salary received for each year of service.
Your 選択s for a 25 per cent lump sum 変化させる によれば the generosity of the 条件 and 条件s of your 計画／陰謀.
Our columnist Steve Webb has explained?how defined 利益 年金 lump sums work and how to work out if they are good value.
明言する／公表する 年金: You need to have made at least 10 years of 国家の 保険 出資／貢献s or have 同等（の） 年次の credits for caring work, 失業, disability or other 推論する／理由s to qualify for a 明言する／公表する 年金 from age 66.
At 現在の the 十分な 明言する／公表する 年金 is 価値（がある） £221.20 a week or £11,500 a year. People who have 契約d out of S2P and Serps over the years and retire after April 2016 might get いっそう少なく than the 十分な 明言する／公表する 年金.
You can check your 明言する／公表する 年金 予測（する） here. If you have gaps in your 記録，記録的な／記録する 予定 to 未払いの and or underpaid 国家の 保険 in previous years, you can?buy voluntary 明言する／公表する 年金 最高の，を越す-ups for extra qualifying years.< /p>
Everyone gets the 選択 of deferring their 明言する／公表する 年金 to get more in their later years.
行方不明の 年金s: If you have lost 跡をつける of old マリファナs, the 政府's 解放する／自由な 年金 tracing service is here.
Take care if you do an online search for the 年金 Tracing Service as many companies using 類似の 指名するs will pop up in the results.
These will also 申し込む／申し出 to look for your 年金, but try to 告発（する），告訴（する）／料金 or flog you other services, and could be fraudulent.
> This is Money guide to 跡をつけるing 負かす／撃墜する old 年金s
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2. Work out what you are likely to spend
You can work out your income, spending and 法案s using a 予算ing 道具. Many are 利用できる online, and you can find This is Money's 予算 calculator here.
The 影響力のある 退職 Living 基準s 報告（する）／憶測 lays 明らかにする what 年次の incomes people need for a 最小限, 穏健な or comfortable 退職.
The 年金s and Lifetime 貯金 協会 手段 is based on different baskets of goods and services like food and drink, 輸送（する）, holidays, 着せる／賦与するs and social 遠出s - but it 除外するs 税金, 住宅 and care costs.
See below for what income an individual and a couple might 要求する 耐える in mind you are likely to spend more during more active 早期に years of 退職. However, in later years you might 要求する 高くつく／犠牲の大きい nursing and 居住の care.
3. How will you 生成する an income
If you have defined 出資／貢献 年金s, you will need to 生成する your own 退職 income.?
This means looking at buying an annuity (a 製品 that 供給するs a 保証（人）d income) or staying 投資するd 経由で an income drawdown 計画（する）, or some 見解／翻訳／版 of the two in combination.
Salary 関係のある defined 利益 年金s 支払う／賃金 out an income によれば the 条件 of the individual 計画／陰謀 and any 柔軟な 選択s it has 利用できる. It is possible to 移転 them to a drawdown 計画（する） to 投資する your 貯金 instead, though not やむを得ず advisable 予定 to what you are giving up.
Income drawdown: 年金 freedom 改革（する）s in 2015 gave over-55s greater 力／強力にする over how they spend, save or 投資する their 退職 マリファナs.
They gave 接近 to 投資する-and-drawdown 計画／陰謀s 以前 制限するd to wealthier savers, and most people now 選ぶ to put their 基金s in such 計画／陰謀s to 生成する an income and hopefully a bit of growth.
Those who are novices to the world of 在庫／株s, 社債s and 基金s might find the whole 商売／仕事 something of a challenge, and struggle to manage their 投資s 首尾よく enough to enjoy a comfortable old age.
Frequ ent 一区切り／（ボクシングなどの）試合s of market 騒動 since 2015, most recently 予定 to インフレーション and the その後の run of 利益／興味 率 引き上げ（る）s, could put off some retirees altogether.
財政上の market volatility can leave people who entered drawdown 直面するing losses, and also in a quandary because taking an income from 縮むing 投資s 早期に on can do disproportionate and 取り返しのつかない 損失 to a 大臣の地位.
This is Money has a starters' guide to 投資するing your 年金 and living off it here. This 含むs a checklist of what you need to think about and 計画（する） ahead for at the 手始め of your 退職 if you want to keep your 基金 投資するd.
You have the 選択 of transferring a final salary 年金 into a drawdown 計画（する）, although 財政上の 専門家s say this is rarely a good idea and the 政府 has placed 保護（する）／緊急輸入制限s against people giving up 価値のある 年金 利益s without realising.
However, some people are willing to give up a comfortable final salary 年金 and 投資する the money in an income drawdown 計画／陰謀 instead because at 現在の anything left over can be 相続するd by other loved ones aside from your spouse.
受益者s either 支払う／賃金 no 税金 if the owner dies before age 75, or 所得税 at their ごくわずかの 率 if the person who dies and leaves the 年金 was over 75.
If your final salary 年金 is 価値（がある） more than £30,000, it is compulsory to take paid-for 財政上の advice before giving it up.
Annuities: にもかかわらず 申し込む／申し出ing the advantage of a 保証（人）d income until you die, annuities have been shunned for years 予定 to poor 率s and 制限する 条件s.
But the 最近の run of 利益／興味 率 引き上げ（る）s mean providers can afford to 基金 much more attractive 取引，協定s, 含むing if you want 選択s like 共同の life - giving a 生存者's 年金 to a spouse - and インフレーション 保護.
Sales of annuities have been at their highest?since 2015, the year when 年金 freedom 改革（する）s opened up the 代案／選択肢 選択 of keeping 退職 貯金 投資するd to all retirees.
You should 耐える the に引き続いて in mind if you are considering buying an annuity.
- You might be able to get an '高めるd' 率 if you wait to buy until you are older and your health has より悪くするd.
- You can think again about your 投資する-and-drawdown 戦略, and buy an annuity in tandem or as a 交替／補充 source of income later, but you can't get out of an annuity once it is 購入（する）d.
- If you are healthy, the best 率s are on 選び出す／独身 life, no インフレーション-link 'level' annuities, but the 現在の cost of living 圧力s 最高潮の場面 how important it is to get some 保護 against rising prices.
- If you buy a 選び出す／独身, not a 共同の, life annuity there will be nothing for your spouse if you die first, so consider what they will have to l ive on and discuss it with them before making a 決定／判定勝ち（する）. Many 未亡人s and widowers discover their partner's annuity choice has left them with no income after their bereavement, 軍隊ing them to live on meagre 明言する／公表する 利益s.
- Consider buying an annuity with a '保証（人） period', which 保護するs against the loss of all or most of your 購入（する） money if you die すぐに afterwards.
- You should shop around for the best 取引，協定s. The 解放する／自由な 政府-支援するd Money Helper service has an 独立した・無所属 annuity comparison 道具 here.
連合させるing drawdown and annuities: The 窮地 for people considering an annuity is that 率s could easily 長，率いる even higher, and buying now could lock you into a lower income than you could get in just a few months' time.
But you are under no 義務 to annuitise your 年金 in one go, and you can 段階 your 購入（する）s, and use annuities in combination with an 投資するd drawdown マリファナ.
We have 以前 調査するd how people can 連合させる drawdown and annuities in さまざまな ways to maximise 退職 income.
> Do you want 投資 growth AND a 保証（人）d 年金? Find out how here
4. Make sure you don't overpay 税金
No one wants to save up all their working life for a decent 退職 only to get stuck with an avoidable 税金 法案.
Unfortunately, there are many 税金 罠（にかける）s for the unwary when it comes to 年金s.
It's 特に important to find out about them if you don't get 財政上の advice when you start （電話線からの）盗聴 your 基金.?
Here are a couple of the most ありふれた.
- When you start （電話線からの）盗聴 a defined 出資／貢献 年金 マリファナ for any 量 over and above your 25 per cent 税金 解放する／自由な lump sum, you are only able to put away £10,000 a year and still automatically qualify for 価値のある 税金 救済 from then onward.
This new and 永久の 限界 is known in 産業 jargon as the 'money 購入（する） 年次の allowance'.
- When you reach 退職, it is very important to 計画（する） your income carefully in the first year to 避ける HMRC 徴収するing '緊急 税金'.
HMRC 非難するs extra 税金 on any 初期の sum taken from a 基金 on the 仮定／引き受けること it could be 'month one' of a series over the 残り／休憩（する） of a 税金 year.
More than a billion 続けざまに猛撃するs has been repaid to people 重税をかけるd on their 撤退s since 年金 freedoms were 開始する，打ち上げるd in 2015.
> How to defend your 年金 from the taxman: Read our 十分な guide here
5. Where to get help
支払う／賃金 for personal advice: This is Money recommends talking to a fi nancial 助言者 to help you maximise your income when deciding on your 選択s.
They can help you with 財政上の 予測（する）ing and cash flow modelling for 退職, minimising your 税金 法案s and 相続物件 planning, の中で many other 仕事s you might struggle to do alone.
推薦s from friends and family can be a good way to find a 財政上の 助言者, but make sure you question them carefully on their experiences.
If you do go 負かす／撃墜する the 大勝する of 財政上の advice, it is important to make sure that the 助言者 is 権利 for you before 調印 up to any 料金s. Most 申し込む／申し出 解放する／自由な 初期の 会合s and should explain to you what they 申し込む／申し出, how they work, how they can help you and what they will 告発（する），告訴（する）／料金.
If you aren't happy with any of the above or they don't explain things in a （疑いを）晴らす and simple way that you can understand, then they may not be the 権利 助言者 for you.
It can be tricky finding an 助言者, so we have?partnered with 飛行機で行くing Colours to help people find an 助言者. It specialises in 財政上の lifestyle planning and helping people to find high 質 信頼できる advice from 地元の IFAs.
Get 解放する／自由な 指導／手引 on your 選択s: Over-50s with defined 出資／貢献 年金s can have a one-hour phone or 直面する-to-直面する 任命 with the 政府's 解放する／自由な 年金 Wise service.
If you’re under 50 or only have final salary 年金s you can still get help from the 政府's MoneyHelper service. Call 解放する／自由な on 0800 011 3797
