Income Drawdown

Getting the maximum Drawdown from your Pension could be a viable way of funding a happy retirement.

An Income Drawdown (also known as income withdrawal) is when you make a decision not to buy an annuity at retirement age, but instead leave the funds within your pension to be invested into a well-managed portfolio. You are then able to draw income from the pension investment.

Advantages of Income Drawdown

• It can be tax efficient.
• Income Flexibility
• You may be able to buy an increased annuity when you finally convert your pension.
• There can be significant benefits on the death of the policy holder, for their partner or estate.
• By defering your annuity through the use of income drawdown you are also able take advantage of the UK government's relaxation of pension rules that came into effect in April 2006.

Current UK rules state, you must convert your pension to an annuity or alternatively secured pension, no later than your 75th birthday. Also, if you want to take your tax-free cash allowance from the pension, this has to be done before you take any income from the investment.

Get the full story

Income draw-down is not without risk. Robert Bruce Associates can offer you specialist, helpful and clear advice to help you make an informed choice. Our qualified advisors will ensure any decision is made only once you have all the facts in hand, and only as a result of establishing your personal wishes and criteria.

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