Can I receive all my savings as a lump sum when I retire?

The purpose of your pension savings is to ensure that your finances are healthy when you retire. Therefore, you cannot normally receive your entire pension in one instalment. However, this is possible if the pension is below a certain size.

You can receive your retirement account or capital pension in one instalment.

The funds in your annuity pension and lifetime pension will usually be disbursed gradually every month. Your annuity pension can be disbursed over a period of 10 to 20 years, and you will benefit from your lifetime pension for the remainder of your life.