Income Drawdown

This is a more modern approach to taking your retirement income and benefits. Due to low annuity rates this has been the more popular option over recent years.

The Income Drawdown option can offer more flexibility than the traditional annuity route, such as:

You can dictate the level of income (within set limits)
Stop and start your income as your circumstances change
Have flexibility in terms of when the income is paid
Control your tax position on the income
Increase your spouse's/dependant's benefits
Benefit from future investment growth
You can choose to buy an annuity at a point where the market or

your circumstances can potentially offer you a better rate of income
Control your own pension fund and dictate where it is invested

Although, there is increased flexibility via a pension income drawdown this option is typically more expensive than the traditional annuity route. This option may not be suitable if you are risk adverse. There are different tax considerations you need to be aware of when considering pension income drawdown. This option may not be suitable for smaller pension funds. It is therefore important that you seek independent financial advice to discuss your own circumstances.

For more information regarding Income Drawdown please contact us on 01633 415 340 or contact us here

Please note that initial retirement planning consultations are free of charge and at no obligation.

The above information does not constitute financial advice from Bartholomew Hawkins Ltd or any of its representatives. Investment performance can go down as well as up. Past performance is no guarantee to future performance. Your home may be at risk if you do not keep up the repayments for any loan secured against it. All information is based upon our interpretation of current legislation and taxation which can change in the future.