Pension Flexible Access Drawdown v Annuities

For information on the new pension freedom changes from April 2015 click here!

If you have a personal pension you can choose when to start taking the income from your pension from age 55.  In 2015 some significant changes were made to the way you can take pensions.  It’s important that you are aware of these before making any decisions!

Part of your pension can normally be taken as a tax-free lump sum and this is usually 25% of the fund value. The remainder can then be used to provide an income.  Traditionally this income was provided via an annuity which pays you a taxable income for the rest of your life. However there are greater choices than just an annuity and the main alternative is Flexible Access Drawdown or Income Drawdown as it’s traditionally known.  Income drawdown allows you to leave the remaining pension pot invested and then allows you to draw an income.

Click here for more information on Income Drawdown.

Click here for more information on Annuities.

Is this you?

  • Retiring shortly and need to know the options I have.
  • I need someone to compare the best Pension Annuities available.
  • I have poor health and have heard I can get a higher Pension Annuity