A new way to retire
Retirement can be an uncertain time. While defined contribution pensions provide flexibility for members, decisions at retirement can be complex. This can leave members overwhelmed and unsure of the best route for them. So, we've built member guidance into our online account and launched a fully managed income for life solution.
Our managed income option is available alongside traditional retirement choices like drawdown and annuity purchase. For added convenience, members can mix and match different options, all accessible through their pension account.
Managed income for life
Our first-of-its-kind managed income for life option allows members to benefit from the full flexibility of income drawdown and a regular income without needing to:
- make investment decisions
- carry out complex calculations
- seek financial advice.
Regular monthly income
It will provide a regular monthly income, easily accessed through the members online account. Members can continue to benefit from our sophisticated investment approach up to and through retirement.
We calculate and pay regular drawdown payments, managing the level of withdrawals so that a member’s pot lasts for their lifetime (to the age of 95) or until age 75 if they’re planning to buy a guaranteed income (annuity) in later life.
Flexible options
Members can choose from a range of flexible options or mix and match to find the right solution for their needs. These options can be accessed through the members pension account and include:
We’d recommend taking independent financial guidance or advice before transferring or combining your pension pots. You can find out about sources of guidance and advice here.
Why choose TPT?
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Defined Contribution pensions
Our award-winning DC Master Trust pension scheme is designed to support members through their entire savings journey and beyond.
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Lifetime pension account
Our next-generation pension account is designed to make pensions easy. Members can save, plan, and manage their retirement online, including drawdown options all in one place.
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High performing default funds
Our default target-date funds (TDFs) have been carefully designed to provide an innovative to and through retirement strategy.
Based on past performance.
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