With annuity rates currently at a 15-year low, many pensioners are opting to leave their pension savings invested in the stock markets and avail of the flexibility that an income drawdown arrangement can offer. With income drawdown, as an alternative to purchasing an annuity on retirement, you are free to vary how much income you take, month by month. You also remain the owner of your cash fund, and can leave it to your loved ones in your will – although there is a hefty 55% tax levy if you do.
Income drawdown offers flexible pension income alternative
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