Just three simple questions and you’ve completed step 1 - what’s more, with this information we can give you an indication of the likely level of guaranteed income you could receive for the rest of your life if you choose to buy an annuity.

These days you have far greater choice and freedom over how you use your pension pot from April next year. Nevertheless, it can be a useful starting point to understand how much income you could receive every year without taking any investment risk.

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How do I find out how much my pension pot is?
Each company you've saved with for your pension will write to you shortly before you retire. They are required to do this by law. The pack they send you will include details of the size of your pension pot.
What if I have more than one pension pot?
The total amount you put in this box can include other pension pots you may have as well (so long as they become payable at the same time). In fact, you can often get a better deal if you combine pension pots in this way. Your pension pot is the value of each pension plan you have.
Should I include any tax free cash I plan to take?
You can normally take up to 25% of your pension pot as a lump sum free of tax. Most people like this idea. At this stage, please put in the full amount of your pension pot and ignore any tax free cash. Your pension pot is the value of each pension plan you have.
I’ve already started to take income from some of my pension pots, should I include these?
No. Please ignore any pensions pots that already pay you an income (Your pension pot is the value of each pension plan you have).