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Drawdown Tunbridge Wells
If you are looking for the best options for how to draw your pension and you live in Tunbridge Wells, then we are able to help you plan for the future without the fear of running out of money. Please do not hesitate to contact us.
Since the pension freedoms rules were introduced in 2015 people have had more flexibility with regards to how they take their pension income, be it to go in to drawdown or purchase an annuity.
With annuity rates remaining low and much higher capital investment required to secure your guaranteed income people are turning to drawdown to choose their own level of income. This in itself though comes with it’s own risks, especially if transferring out of a scheme with a final salary element, or any other guaranteed or safeguarded benefits, what if the value of that fund falls and you run out of money. That would not be a particularly nice retirement for anyone so it is important to understand the risks as well as the potential rewards.
Drawdown can be a great solution for those looking for flexibility of either income or lump sum withdrawals, it is important to remember though that there may be tax implications for both income and capital events depending on your personal circumstances at the time.
It is important to have a portfolio that aims to provide you with the income that you are looking to receive but that also is likely to be sustainable. That is where we listen to what you want and analyse your attitude to risk and perhaps, more importantly, your capacity for loss. This information enables us to invest your fund into a suitably risk adjusted portfolio designed to create the retirement that you desire without the worry of running out of money.
Drawdown continues to evolve with product providers constantly looking at new ways of enhancing their propositions. This is good news for clients in this market as it provides more choice and options when it comes to retirement. For example blended options of drawdown and annuities. It is possible to secure a base level of income and that can be provided through a purchased annuity whilst leaving the remainder of the fund in a flexible drawdown arrangement that can be used to provide a range of flexible benefits such as income, capital or even a further annuity purchase at a later stage.
Using our expertise and other tools available to us we can find the right drawdown option for you and your retirement.
*The value of your investments can go down as well as up and past performance is no guarantee of future returns.[/vc_column_text][/vc_column][/vc_row]