Income Drawdown

Unsecured Pension

This is an alternative to purchasing an annuity. You "draw" an income directly from the Pension Fund whenever you want additional income. This means

• There is added flexibility
• It enables a phased retirement
• At age 75 you must purchase an annuity
• This can be complex and it will not be suitable for everyone. Contact us for advice.

There are some drawbacks including

• Normally higher charges and only suitable for those with a large Pension Fund
• The 25% Pension Commencement Lump Sum is only available at the time the fund designated for income withdrawals is crystallised.