The selected retirement age/date is assumed to be the date that the customer will want to use their remaining uncrystallised fund value to purchase an annuity or fully transfer into a drawdown arrangement. We will use this as a default value for any other illustrations, and for wake-up packs.
The intended annuity purchase age is used to illustrate the crystallised part of the account.
Both the selected retirement age/date and the intended annuity purchase age can be changed by clicking the ‘Pension Details’ link on the account page.