Advice sought on what to do with £1.2m pay out

RetSol

Hello Me107
I have read the comments on this thread.  The best advice to you so far seems to me to be on the bigger picture, eg-
1.  Consult an IFA.
2. Bear in mind that this personal injury compensation sum needs to last you a lifetime, your needs will change over time and may significantly increase.
On the detail, one point which occurs to me is to wonder if you anticipate that you might need to seek ill-health retirement in the future and what your pension scheme rules say about this.
You may have this in hand but I strongly suggest that you seek advice from an IFA who specialises in investing p. i. compensation sums.  Such people do exist and they will be much more aware of your specific situation.  Your solicitor may be able to point you to one.  Please ignore anyone (or report as spam) anyone who tells you that you do not need an IFA.  Managing a substantial personal injury award in a way that will cater long term for your needs and those of your dependents is not a job for an amateur. 
At this stage, I think that considering detailed suggestions about pensions etc is to put the cart before the horse.  Concentrate on finding an IFA whom you are happy with.
You are very sensible however to realise that you will need to be able to evaluate the IFA's advice yourself.   We cannot outsource responsibility for our lives.  The MSE forum is one way for you to get some external input on the IFA's suggestions as you go along.
I have recently taken semi-retirement and I am amazed how long it is taking for me to get my finances onto a new footing.  It is very much a process, not an event.  I wish you every success with it. 
Best wishes. 
RetSol

Albermarle

The OP should also be up to speed with disability benefit rules when he sees an IFA. With his resources he will clearly have to pay for some services himself , when needed , but not all disability benefits are means tested . He receives PIP already for example.
An IFA will probably not be clued up on this aspect of potential expenditure/income.