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Pensions, Income Drawdown

pension-freedoms

Income Drawdown is an alternative to purchasing an Annuity when looking to take an income in retirement.

Instead of giving your pension fund away to an insurance company, Income Drawdown allows you to draw an income whilst the remainder of the fund remains invested.

It is most suitable for larger pension funds, where the owner can afford to take some level of risk as the trade off for the flexibility that drawdown offers.

Drawdown is also useful where you are looking to crystallise the fund, take the Tax Free Cash lump sum but do not require any income.

Whether you are considering Income Drawdown, or are looking to review your existing drawdown portfolio, you need professional, impartial advice from a firm with a proven track record in meeting their clients’ retirement needs.

Call us now on 0116 253 5600 to speak to a qualified adviser in confidence and with no obligation or simply complete the enquiry form.

Income Drawdown provides great flexibility but is a complex area of financial planning and not all firms of IFA’s are capable of providing advice in this area.

There is also a hybrid arrangement which combines the security of an annuity but some of the flexibility of drawdown.  This is called a Fixed Term or Temporary Annuity.  It provides a level of income for a fixed time period of time.  At the end of the term, you receive a Guaranteed Maturity Amount with which you can roll into another fixed term contract, the fund to income drawdown or purchase a traditional annuity.

The value of investments and income from them may go down. You may not get back the original amount invested.