How to take your pension money

Logging in to your Online Account is the simplest way to access your money with The People’s Pension.

Are you ready to take your money?

Important: How you take your pension money is a big decision and you need to think about it very carefully. Make sure you’ve already considered your options and decided how you want to take your pension savings. Then you can tell us how you want to take your money in your Online Account.

You’re at least 55 (proposed to increase to age 57 in 2028)

You’ve considered guidance and advice

You understand the tax implications

You’ve decided how to take your money

You’ve set up your Online Account

What details will you need to know?

  • How much your other pensions are worth, and whether you want to combine them
  • Details of any other pensions you’ve taken money from
  • Whether or not you receive any means-tested income
  • Whether or not you’ve registered for lifetime allowance protection
  • How much money you’ve taken from your other pensions
  • Your bank account details

When you’re ready, log into your Online Account and go to ‘Take your money’.

Taking your money through your Online Account:

Only takes 15 minutes to complete the online request

Is safe and secure

Means you’ll receive your money faster than by post

Start taking your money now

Not ready yet?

Set yourself a reminder to come back to this page when you’re ready.

Having problems in your Online Account?

Read our frequently asked questions for help with taking your money online.

Find out how much you have

The options you have for taking your pension depend on how much you have saved. Use our retirement planner in your account to see how much money you may need and could have in retirement.

Log in to your Online Account Set up your Online Account
Log in to your Online Account Set up your Online Account

Do you need to do some more research?

Find out about your options

Your pension pot doesn’t automatically turn into a regular income or get sent to you as a lump sum. You need to tell us how you want to take your money – and there’s a few different options to choose from.

There are lots of different factors that could affect your decision about how to take your pension savings.

Reading our ‘Your options at retirement‘ booklet is a good way to get started or see our retirement options page to help you decide what’s right for you.

You can also find out more by reading our frequently asked questions on accessing your pension money.

Guidance and advice

Making decisions about your pension can be complicated. So you may need some help.

Find out more about your guidance and advice options and discover helpful resources on our guidance and advice for members page.

Your retirement options

Find out about your retirement options before you take your pension savings.

Plan for your retirement

To get the most from your pension when you retire it pays to think ahead.