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 this type of plan is an Unsecured Pension (USP) and from April 2011 they will be known as Capped Drawdown and Flexible Drawdown.

A Pension Drawdown plan allows you to unlock the tax-free cash from your pension plans without taking out an annuity.

You retain ownership of the funds and the funds continue to be invested. A pension drawdown is an alternative to an annuity which gives greater flexibility. The main features of a Pension Drawdown plan are:

You can take a 25% tax-free lump sum from age 55
You can take an income between 0 and 100% of the rate set by the Government Actuaries Department (GAD).
The income you withdraw can be varied at any time up to the maximum amount 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
Choice of death benefits for dependents
Your Spouse can receive 100% of your fund on your death

To learn more about Income Drawdown and the options available visit the following pages or call us FREE on 0800 03 04 008 to talk to one of our drawdown specialists.

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Financial Advisers

Jonathan Walker
Jonathan is the director and joint owner of the Pension Drawdown Company.

Robert Bolton
Robert is a practising Barrister and is also fully qualified as a Diplomaed Financial Adviser.

Bob Diamond
Bob is a Pension Specialist who has been with the company since its incorporation in 1996. Bob has been a financial adviser since 1989.

Andrew Ross
Andrew is a qualified financial adviser and is undertaking further training to become fully diplomaed.

Roger Easterbrook
Roger is a financial adviser with a background in Executive Search and is close to completing the Diploma.

Click here for more team members.

Market Monitor

Updated: 6th February 2012

Signs of an improvement in the US economy and an absence of bad news from Europe helped global equities stage their strongest weekly rally in several months. A surge in hiring in the US economy drove the Nasdaq index to an 11-year high on Friday, as optimism grew that the jobs market is on a steady path to recovery. Technology stocks gained a further boost as Facebook 's long-awaited IPO filing drove a two-day rally in internet names. The US dollar rose against the euro, the pound and the yen as investors speculated that the positive signal on the US economy would lessen the chance of a further round of quantitative easing.

European stocks closed at their highest in more than six months, while the FTSE 100 closed at its highest since last August. For the second week in a row, government bonds rallied as talks continued over the eurozone debt crisis with private creditors to Greece coming closer to an agreement on the country's debt. However, the week's news wasn't all positive, as Portuguese government bond yields surged to much the same levels that forced Greece to ask the EU for a second bail-out last year.

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

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