Approaching retirement requires planning in terms of providing sufficient income from all sources including personal, occupational and state pensions including income from investment capital. Contact Us for further information or a Quotation.
What Are Your Options?
- Lifetime Annuity
- Investment Linked Annuity
- Unsecured Pension (previously known as Income Drawdown)
- Phased Retirement
- Alternatively Secured Pension
Lifetime Annuity
Your pension is used to buy an annuity which will pay you a set income for your life. You can have the option to increase the benefits yearly, joint life to provide spouses pensions, guaranteed periods
Investment Annuity
The income provided by this type of annuity is determined by the performance of the underlying funds. An anticipated bonus rate is selected at outset, if the returns are above this then income will increase, and the opposite will occur if returns are below the anticipated bonus rate. A lifetime annuity can be chosen in the future ideally if annuity rates increase.
Unsecured Pension
Previously known as Income Drawdown or Pension Fund Withdrawal. This is designed to allow you to take the tax free lump sum that is available from your pensions, and for you to determine how much income you need between zero and a set maximum limit. Your pension funds will still be invested and you have the ability to review this regularly. A lifetime annuity can be chosen in the future ideally if annuity rates increase or more stable returns are required.
