This is also referred to as Income Drawdown, and is a method of claiming your pension benefits whereby you start taking an income directly from your pension fund.
Rather than the traditional method of purchasing an Annuity with your pension funds, this option provides you with a great deal more flexibility with your pension funds into retirement. You can determine your income from limits determined by the Government Actuary’s Department, and this can be varied at any time to suit your requirements into the future.
You can also use a strategy known as Phased Retirement which enables you to manipulate your pension benefits in a way which optimises your tax allowances.
We have a great deal of expertise and experience in the setting up and ongoing management of Income Withdrawal plans, and we are able to assist you in all aspects of the arrangements.
For some indicative figures, please click here.
Our regulator, the Financial Services Authority has a dedicated consumer website, Money Made Clear , which produces booklets designed to help clients understand thier retirement options.
You can download the following:-