What is a Fixed Term Retirement Plan?
Regular income, ending with a lump sum
Our Fixed Term Retirement Plan, like an annuity, lets you use your pension pot to buy a guaranteed income, but for between three and 25 years, with a lump sum at the end.
This product may be for you if you want guaranteed income for now and the ability, after the plan ends, to make new choices.
Retirement income products compared
Guaranteed income (Pension Annuity) | Fixed Term Retirement Plan | Cash-Out Retirement Plan | Flexible income (Pension Drawdown) | |
---|---|---|---|---|
Can it provide a regular pension income? | Yes | Yes | Yes | Yes |
Can I choose a guaranteed income each month? | Yes | Yes | Yes | No |
Is my income guaranteed to last my whole life? | Yes | No | No | No |
Can I change how much I get? | No | No | No | Yes |
Am I exposed to market movements, up or down? | No | No | No | Yes |
Need some help?
Making well-informed decisions about how to finance your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy.
Need some help?
Making well-informed decisions about how to finance your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy:
Retirement guidance
Pension Wise from MoneyHelper
The government’s free and impartial service, offering guidance to make money and pension choices clearer.
To find out more or book an appointment online click below or call.
0800 138 3944
Monday to Friday 8am to 6.30pm.
Calls may be recorded and monitored.
Speak with us
Our colleagues in Cardiff are always happy to answer your questions or help you apply for a quote.
0808 189 9551
Monday to Friday 9am to 5pm.
We may record and monitor calls.
Retirement advice
Retirement Advice Service from Legal & General
Our advisers are experts in retirement regulated by the Financial Conduct Authority , so you can trust them to provide impartial advice and a personal recommendation that’s right for you.
0808 304 9155
Monday to Friday 9am and 5pm.
Calls may be monitored and recorded.