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What The Pension Drawdown Company Does

Newsflash: UK Budget 2014

For the first time since he entered No11 Downing Street, the Chancellor of the Exchequer has been able to give a budget speech that contained some welcome news.

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What is Pension Drawdown

A Pension Drawdown (or Income Drawdown, Income Withdrawal, Pension Release as they are sometimes called) is a personal pension plan from which you can draw an income. Since April 2006 the official name for pension drawdown is an Unsecured Pension (USP) and from April 2011 they became known as Capped Drawdown and Flexible Drawdown.

  • You can take a 25% tax-free lump sum from age 55
  • You can take an income between 0 and 120% of the rate set by the Government Actuaries Department (GAD).
  • The income you withdraw can be varied at any time up to the minimum or maximum amount above to suit your needs or control your tax liabilities
  • The maximum income is reviewed and recalculated every three years currently
  • You can transfer any number of pension plans (personal and occupational) to one single income drawdown plan
  • You retain ownership of your pension fund and control of your investment

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Pension Drawdown PDF Guide to Download Download our comprehensive pension options guide by clicking on the above image.

Fund Management

At some old gable-roofed country houses you will see brass whales hung by the tail for knockers to the road-side door. When the porter is sleepy, the anvil-headed whale would be best. But these knocking whales are seldom remarkable as faithful essays. On the spires of some old-fashioned churches you will see sheet-iron whales placed there for weather-cocks; but they are so elevated, and besides that are to all intents and purposes so labelled with "HANDS OFF!" you cannot examine them closely enough to decide upon their merit.


Annuities

A Pension Annuity is a way of converting your pension savings into an income for life. The main points of a Pension Annuity are:

  • You can take a tax-free lump sum from your plan, normally 25%, and purchase the annuity with the remainder
  • Income guaranteed for life
  • When you die, payments stop, unless you have chosen a joint life annuity or a guaranteed payment period
  • They are simple to understand and give security and peace of mind

If you would like to discuss your options with one of our specialists call us FREE on 0800 03 04 008.

Pension Drawdown Guide to Download Download our comprehensive pension options guide by clicking on the above image.

Market Commentary - 10th March 2014

Global equities continued to rally, with the US market in particular ending the week at a record high, as the latest non-farm payrolls report offered support over the health of the US economy. The headline non-farm payroll increased by 175,000 over February, beating consensus expectations of a 149,000 gain. Revisions to previous months showed the economy added 25,000 more jobs than previously thought in December and January.

Elsewhere, renewed uncertainty about the unfolding situation in Ukraine continued to have a contagion effect on some markets. In Europe, market participants appeared unwilling to hold long positions due to fears of an increase in Ukraine tensions over the weekend. Furthermore, European markets were down following the European Central Bank decision against easing monetary policy further and official forecasts of low inflation. Central bank action in the UK was also a non-event, with interest rates kept at 0.5% by the Bank of England.

In Asia, the Japanese equity market rose higher as the steady weakening of the yen helped bolster investor sentiment towards equities. China came into the spotlight after the authorities allowed the nation’s first onshore corporate bond default.

In commodity markets, fears of a conflict between Ukraine and Russia pushed the gold price upwards in a flight to safety and gold ended the week up $14. Brent crude oil spiked to a 2014 high above $112 a barrel, however returned to $109 at the end of the week.

The information contained above is provided by Schroders Market Monitor. Neither The Pension Drawdown Company Ltd nor TenetConnect Limited are responsible for the accuracy of the information contained within this commentary. Professional advice should be sought before making investment decisions.



Important information: This update is intended to be for information purposes only.

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Retirement Planning

Steering north-eastward from the Crozetts, we fell in with vast meadows of brit, the minute, yellow substance, upon which the Right Whale largely feeds. For leagues and leagues it undulated round us, so that we seemed to be sailing through boundless fields of ripe and golden wheat.


Chartered Financial Practice

Members of staff at a Torquay-based financial services company are celebrating after the company was awarded Chartered Status back in 2013.

The award, from The Chartered Insurance Institute, comes after The Pension Drawdown Company met the exacting standards laid down to become Chartered Financial Planners. It is one of only a few companies in Devon and Cornwall to hold this title. The CII is the premier professional body for the financial services industry and has 93,000 members in 150 countries.

The Pension Drawdown Company, which employs eleven people at its offices in Wellswood, specialises in pension planning and taking retirement benefits from pension plans. In recent years, it has expanded its services to include most aspects of financial planning and investment advice, such as wealth management, business planning and Inheritance Tax planning.

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How much income could I receive?

You can use our pension drawdown calculator to calculate how much income you can obtain from your pension pot.

This pension drawdown calculator uses the the 2011 GAD Rates table as per the HMRC specification. We obtain the current GAD rate itself from Scottish Life.

The pension drawdown calculator is free to use to calculate your pension drawdown. We never pass on or share your details to any third party.

The value of investment and income from them may go down.
You may not get back the original amount invested.
THIS CALCULATOR IS FOR ILLUSTRATIVE PURPOSES ONLY.

Pension Drawdown Calculator
 

Quote of the week

It has been one of the best decisions in my life to entrust my 40 years of pension contributions to The Pension Drawdown Company

Marcus Sheldon - Broughton-in-Furness, Cumbria (Retired IT Manager)

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