Once you let us know that you want to retire, we’ll ask you for your UK bank or building society details. Your monthly income will then be paid on the 21st of each month.
Your lump sum can also be paid into a UK bank or building society.
If you want your monthly income and/or lump sum paid to a non-UK bank account, take a look at working or retiring overseas to find out what you need to do.
Take a look at our retirement timeline for more on how long the process takes and what you need to do.