The aim of this Life After Retirement module is to help you think what it may feel like once you stop working and retire. By taking the time to do a few simple things now, you can make a real difference to your future.
KPS-MP
The Kingfisher Pension Scheme – Money Purchase Section
Retirement Account
This is the fund account where your contributions are paid into each month and then invested.
Annuity
A product you can buy with your retirement savings that will provide a lifelong regular income.
Retirement savings
The pot or pots of money saved for your retirement which you can access from 55 or over. This includes money paid in from you and your employer to defined contribution or money purchase plans.
State pension
The State Pension is a regular payment from the government you can get when you reach State Pension age. To get it you must have paid or been credited with National Insurance contributions. You’ll get your State Pension under the current scheme if you reach State Pension age before 6 April 2016. If you reach State Pension age after this date, you’ll get your State Pension under the new scheme.
