Yes! When you customize your Personal Pension, you can choose to for it to cover both you and your spouse. That means that you’ll receive income payments as long as either of you are alive. You also have the option to reduce the income generated upon the passing of the first spouse, which will allow for more income while both spouse are alive.
You can change your start date one time before retirement.
You can receive income payments as often as one time a month during retirement.
By default, Personal Pension does not increase with inflation, although the option does exist. The income you’re able to build will continue at the same level, year after year. For many people, this isn’t a problem because they get inflation protection from elsewhere, such as Social Security and market investments.
Unless you choose otherwise, your Personal Pension comes with the Refund at Death feature. With it, you are promised that any money you contributed and haven’t received back will be given to your beneficiary.
You get to choose when your Personal Pension starts. Typically, our pensioners select the age at which they plan on retiring. Others choose something a little later because the longer you wait to start your Personal Pension, the greater the monthly paychecks will be.