The purpose of your pension savings is to give you a healthy financial situation when you retire. This is why you cannot usually take the whole of your pension out at the same time.
You can have your old-age savings or capital pension paid out in one go.
As a rule, the money in your annuity pension and lifetime pension will be paid out each month. An annuity pension can be paid out over 10 to 30 years and you will benefit from a lifetime pension for as long as you live.
