Need help? Give us a call now.

Pension Drawdown


Withdrawals from your pension fund

A pension drawdown allows personal pension holders to withdrawls from their pension fund (pension drawdown) instead of  being required to buy a pension annuity with the pension remaining invested with an insurance company. This gives the pension holder more control over their pension.

The value of the investment can go down as well as up and you may not get back as much as you put in

Significant advantages of income drawdown are the ability to take the tax free lump sum of 25% while leaving the pension fund invested and improved death benefits for a spouse or beneficiaries. Although this option may be riskier than taking a pension annuity to begin with, you could save money by reducing your income in some years, thus avoiding higher rate tax liability.

 

Need help? Give us a call or request help by sending us a message through our contact page.

Simply click on the Contact us tab to the right.