Capped Drawdown

This is very similar to what was known prior to 6 April 2011 as Income Drawdown or Income Withdrawal.

Before age 75 the maximum income is broadly equivalent to 100% of the income available from a single life, level annuity.  The maximum annual drawdown is reviewed every three years.

Capped Drawdown can continue after age 75, but the maximum annual amount you may withdraw will be reviewed each year.  It is possible to elect to use the valuation of your pension at your 75th birthday, rather than the value at the date of the first review. 

The maximum income level may increase or reduce in the future.

The value of this type of investment, together with any income, may fall as well as rise and does not take into account the effects of inflation. You may not get back the amount originally invested. Changes in the rates of exchange between currencies may cause your investment and the income from it to go up and down. 

Please contact us to see if Capped Drawdown is appropriate.