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The Pension Drawdown Company specialises
in providing advice on all aspects of pension
drawdown and investments

 
 
11 March 2010

How Safe Is Your Pension

Defined Benefit, or Final Salary Schemes, in the UK have a collective deficit of £253 billion as at the end of March. This is reported by the government sp…

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Pension Drawdown - Advantages

  • Access to tax-free cash immediately
  • Flexibility to vary your income according to your requirements
  • Control the level of income tax you pay
  • Control of your investment
  • Funds benefit from investment growth in a tax-efficient environment
  • Choice not to purchase an annuity
  • Option to convert to Alternatively Secured Pension at 75
  • Choice of death benefits for dependents

Pension Drawdown – Disadvantages

  • Future investment returns are not guaranteed
  • Annuity rates may be lower in the future
  • High withdrawals of income may not be sustainable
  • The higher the level of income withdrawal chosen the less that may be available to provide for dependants
  • Increased flexibility brings increased administration costs
  • The level of income may change due to the quinquennial review

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