Structuring income

Imagine retirement. All you have to live on is the money you have tied up in your retirement provision - your pension fund and some other 'top-up' investments you made along the way. Unfortunately, you have to buy an income with the bulk of the money at some point before age 75, however poor a deal that might be. The day after you retire, any purchased pension is likely to be significantly less than last year's salary. The rest of your money, therefore, has to fill that shortfall but at the same time you want to keep it safe. It is all you have. Retirement planning has always been somet...