A drawdown pension allows you to access your pension fund flexibly. I can guide you on taking a tax-free lump sum and then transferring the remaining amount into a Flexi Access Drawdown Product. This method offers flexibility and growth potential, making it a popular choice among retirees.
During our initial consultation, I will assess how much income you can sustainably withdraw from your pension, considering your income needs, financial goals, and drawdown rates. The income amount can be adjusted according to your objectives while in drawdown.
Your remaining pension pot will stay invested, allowing for potential capital growth. As your financial adviser, I can explain the benefits of a drawdown fund and create a retirement plan that minimises risk and maximises returns.
One significant advantage of a drawdown pension is the ease of passing on your inheritance. Any remaining funds can be transferred to future generations without incurring inheritance tax. Additional benefits include unrestricted access and flexibility, giving you greater control over your money.
To discuss how a drawdown pension can benefit you financially, contact Michael Reed today.
