Which Solution Is Right For You?

Annuity & Drawdown Solutions

Two of the most common choices which are brought up when discussing pension options are annuity and drawdown. But what do these terms mean? And how would they affect your future financial planning? Get in contact with our experts for more details.

Lifetime & Fixed-term Annuity

Lifetime Annuity

With a Lifetime Annuity, you are guaranteed an income for the rest of your life, no matter how long you live. There is no risk of your pension running out, but you will not be available to adjust these rates at later stages.

Fixed-term Annuity

Fixed-term Annuity provides you with a secure income over a minimum of 3 years. Plus, at the end of each chosen period, you are able to assess your options and make changes before committing to a new term.

Flexible-Access Drawdown

As the name would suggest, flexible-access drawdown, also known as flexible retirement income, involves easy access to withdraw money from your pension pot to help support your retirement. Overall, this provides you with more leniency over how and when to receive your pension. You would be able to take up to 25% from your pension pot as a tax-free lump sum. Whilst the rest remains invested, with the potential of investment growth over further years. This leftover balance would then be dispensed to you as a regular income, or in amounts as and when you require it.

Frequently Asked Questions

How Does Pension Drawdown Work?

Pension drawdown or flexible retirement income offers a way of taking out up to 25% of your money from your pension savings, tax-free.

Is An Annuity Better Than A Drawdown Pension?

This honestly varies from client to client, depending on your current financial situation. For more details, we recommend contacting our professional advisers directly.

Customer Testimonials

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Learn More From Our Experts Today

Discover more about your financial options with the help of our specialists today. Get in touch with our team to arrange a virtual coffee meeting today.