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Glossary > P > "Phased retirement" Definition

Phased retirement

The arrangement of a personal pension plan in segments to enable the policy holder to take a pension in stages. The lump sum entitlement is also phased. The policy holder may elect to phase the purchase of an annuity or to phase income drawdown (see personal pension plan).

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Phased retirement - The arrangement of a personal pension plan in segments to enable the policy holder to take a pension in stages. The lump sum entitlement is also phased. The policy holder may elect to phase the purchase of an annuity or to phase income drawdown (see personal pension plan).

Phased retirement : the arrangement of a personal pension plan in segments to enable the policy holder to take a pension in stages. the lump sum entitlement is also phased. the policy holder may elect to phase the purchase of an annuity or to phase income drawdown (see personal pension plan).