Tax-Free Lump Sum
You can now access your entire pension fund from age 55. Typically, 25% can be withdrawn tax free, however the remaining 75% can also now be withdrawn, subject to income tax at your highest marginal rate. Please talk to us about the most cost effective and tax efficient methods of ‘cashing in’ your pension.enquire now
An annuity provides you with a guaranteed income for life and is commonly purchased at retirement.
Using a lump sum from your pension fund or savings to buy an annuity means you don’t need to worry about budgeting for an unknown period
Income drawdown allows you to take an income directly from your pension fund while leaving the remainder invested for potential further growth.
It allows you to take control of how and when you receive your retirement income, and you can choose a range of investments but remember that the performance of the investments will affect the income you receive.enquire now