Income Drawdown

Income Drawdown allows you to keep your retirement savings invested and take an income each year rather than buy an annuity.  The maximum income level is set by HMRC. 

You can normally draw up to 25% of your pension pot as a tax-free lump sum and draw a regular income from your residual fund.  There is no minimum annual withdrawal amount - so you can choose zero income some years if you wish.  Any income is subject to tax at source through the PAYE system.

Income Drawdown is available from age 55.

Please contact us to see if Income Drawdown is appropriate.