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All Pension drawdown quotations are provided by Independent Financial Advisers, all Authorised and regulated by the United Kingdom’s Financial Conduct Authority (FCA).
"Glad we started investigating our annuity options. The Pension Drawdown Advisory Centre allowed us to make the right choice for our future."
Answers to the most popular pension drawdown questions we have received since the UK Budget announcement:
Normally there is no maximum or minimum limit to the amount of income you can take. You can just take your tax-free cash and no income if you wish.
Income tax will be deducted at source in accordance with your tax code.
Yes you can. For many, an annuity offers security to cover essential outgoings and drawdown is used as a more flexible way to take income. If you put all your pension funds into drawdown and later wanted to buy an annuity, you could use some or all of your drawdown fund to do this.
There are three options that you can choose from when you die.
Capped Drawdown allows you to take an income level from Nil to maximum GAD (Government Actuarial Department) Limits that change from time to time; whereas Flexible Drawdown allows you to set the income level yourself, provided that you have a minimum guaranteed income level of £20,000 per annum.
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