Flexible Drawdown


Pension Drawdown

We can help you understand your

Pension Drawdown Options.

You May Pay More Tax Than Needed If You take all your Pension At Once!

There Are Tax Efficient Ways To Access Your Pension
We Can Help!


We can help identify the most suitable
pension option for you
both
Annuities and Drawdown

Age 55 or over?

If you have a personal pension you could take as much as 25% as a tax free lump sum.

You need to understand your options
We can help you find tax efficient
ways of taking your pension

Points to consider:

  • If one of the reasons you chose a drawdown product was to gain a better annuity rate in the future you may find that the annuity rates have fallen when you want to buy.
  • The value of the fund could fall
  • Flexi-drawdown requires ongoing monitoring of the plan
  • Charges can be higher for this form of drawdown and there can be ongoing investment charges.

To understand the tax implication on death benefits click here

Flexi-Drawdown

Flexi- Drawdown enables individuals the opportunity to withdraw as little or as much income from their pension fund, as they choose as and when they need it. This can take the form of a regular income or periodic payments. The remainder of the funds are invested in whatever manner you chose.

This is a more complicated process and can carry a higher degree of risk therefore it will not suit the more cautious individual. For this reason, we recommend Independent Financial Advice be taken. We can assist in this respect through agreements we have with separate companies. Contact us for further information.

The basic rules are:

  • You can take your tax free lump sum (normally maximum 25%)
  • You can take as much or as little income as you wish and manage your tax circumstances accordingly.
  • Your funds stay invested to enable you to manage the growth.
  • You can purchase an annuity at a later date, this might be useful if you became eligible for an Enhanced Annuity.
  • The value of the fund can continue to be invested to provide future fund growth dependent on fund performance.
  • You can continue to invest up to £10,000 per annum in a pension and receive the appropriate tax benefits.
  • As you are not locked into an annuity you can convert it to another pension product at any time.
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No Obligation
Annuity Quote

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Call Us
0845 576 01 02

Email Us
info@penops.co.uk