Retirement support and process

As you approach retirement, there are various resources to help you in your planning and decision making.

Pre-retirement support

Current employees

Pension Roadshow - If you are currently employed by AXA there are pension roadshows each year that you can attend.  Please contact the AXA Pensions Team for more details.

Close Brothers Seminar - AXA will pay for you to attend a pre-retirement course with Close Brothers if you are within two years of retirement. You will need to get your manager’s approval and book a place on the website, www.moneytalksatclose.com/axa/preretiresupport. The course provides information on your retirement options, as well help with the lifestyle changes retirement brings.

All Scheme members

Pension Wise - We encourage all members over age 50 to use the Government’s free guidance service, Pension Wise. You can visit their site and book an appointment to speak to someone about your options, www.pensionwise.gov.uk.

Financial Adviser - We would also recommend that you take independent financial advice. Unlike the other sources of information, a financial adviser will provide personalised advice based on information you provide about your circumstances. You can find an adviser in your area by going to www.unbiased.co.uk.

Financial advisers charge for their services; however, under new rules introduced by the Government, you are able to use up to £500 from your Personal Account to pay for financial advice before retirement (you are only able to do this three times in your lifetime).  

Please remember to check your target retirement date, as the date we have on file will determine when we get in touch with you about retiring. If you need to change your target retirement date, log in to lwp.aegon.co.uk/targetplan.

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Six months from your target retirement date – Aegon will contact you with information about your options.  Shortly after, Hargreaves Lansdown will contact you with details of annuity options available.

Three months from your target retirement date – Aegon will contact you with further information and a form to let them know what you would like to do with your Personal Account

Two months from your retirement date – Review your options, seek further advice if you need it and inform Aegon of your choice. Make sure you have completed and signed all the necessary forms to allow your Personal Account to be used to buy an annuity or provide a drawdown income in time for your retirement.

If you have any queries at any point during this process, then contact the Pensions Team or Aegon using the details on the Here to help page.

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