What do I do with my non pension savings?


Increasingly, people are retiring with part of their income in retirement generated from savings and investments they’ve built up outside their pension savings.


Alternatively, they may have taken the tax free cash from their pension and are planning to invest some or all of this or they may have inherited wealth that they intend to use to boost their income in retirement


Whatever the original source, this money isn’t part of a pension fund, so there is far more flexibility over how it is invested.


Some people may not need to generate an income from their money and may have other objectives. If you’re in this position, we recommend you seek financial advice. This section is targeted at providing guidance to people who would like to use their non pension savings to boost their income in retirement.


There are four areas to consider? 

  • How much risk are you comfortable taking with your money?  
  • Will you need access to the money? If so, how quickly are you likely to need it?
  • How much can you take out each year without running out of money?
  • What product(s) should you use to invest your money?


We’ll consider each of these in turn. Let’s start with the first question.


Note: With most investments there is a risk to your capital and you may not get back the full amount you invest. The value of investments and any income from them can fall as well as rise.

Tempted to take 100% cash?

Try our tax calculator first


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