Key things to remember:
You need advice by law before you can take money from your pension
Your money stays invested for you to access as and when you need it
From age 55 you can withdraw your money taking up to 25% tax free
Keep your pension invested and take a flexible income as and when you need it using drawdown. Your retirement could last for many years, and drawdown allows you to keep your retirement income options open. A personal drawdown plan offers you more flexibility than ever before, and could allow your pension fund to go much further.
Even when you know a personal drawdown plan is the right option for you, there are so many factors that go into planning a retirement income. Pension value, personal retirement plans, and attitude to investment risk all need to be considered. Professional financial advice from an expert adviser is essential to secure the best possible income. To be connected with a financial adviser, and get started with drawdown, complete our simple form.
It’s also a legal requirement to seek advice from an FCA regulated financial adviser before you can access your pension savings via drawdown. They’ll tailor a personal pension drawdown plan to get you the best deal. In addition, you will also receive a free all-you-need-to-know guide to pension drawdown.
"Income Drawdown proved to be a more flexible personal pension plan that gave me better access to my pension fund."Maureen Knowles