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  • Income Drawdown

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    Should I Go Into Income Drawdown?

    Should I Go Into Income Drawdown?“>

    If Pension Funds Are Your Main Retirement Income This group of people wish to utilise their tax-free cash benefit and also want to start receiving a steady income. However, they would rather go into drawdown or ASP rather than purchase an annuity. The above group need to ensure that the value of their pension pot

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    Income Drawdown And ASP’s: Taking A Risk

    Income Drawdown And ASP’s: Taking A Risk“>

    The plus side of an ASP or income drawdown is the fact that an investment can significantly increase in value. The bad news is that pension holders who go down this path are taking a big risk. There are no guarantees with this sort of investment which can fall dramatically in value. This could result

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    Taking Income Drawdown For and Against

    Taking Income Drawdown For and Against“>

    Here are some reasons for and against going into income drawdown/ASP. For Income Drawdown/ASP Unlike annuities, you are not forced into making a decision for life straight away The investment funds that are to be chosen are at your discretion If you were to die before you turn 75, your beneficiary will be able to

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    Purchasing Annuities For and Against

    Purchasing Annuities – For and Against“>

    Here are some reasons for and against purchasing annuities or going into income drawdown/ASP. For Annuities: Ÿ  They are uncomplicated Ÿ  Once you purchase an annuity you have a guaranteed form of income Ÿ  There is no possibility of this income ever running out Ÿ  Annuities are available regardless of the size of your pension

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    Annuities, Drawdown, ASP reviews

    Annuities, Drawdown, ASP – reviews“>

    A feature of income drawdown or an ASP is the fact that they need to be monitored closely at all times and reviewed regularly. You should always take a close look at your plan every 12 months to: Ÿ  Take stock of the amount you are withdrawing. Large withdrawals end up draining the fund faster than

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    Flexible Income Drawdown

    Flexible Income Drawdown“>

    With income drawdown or an ASP, you are not making one choice and sticking by it. With an annuity, you must accept the income you receive without reservation because you are not allowed change it. With drawdown, you get to control your level of income as long as it stays below the maximum limit allowed.

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    Cheaper Annuities

    Cheaper Annuities“>

    One advantage of purchasing an annuity is that all additional charges and fees are taken care of at the start because they are all inclusive. Once you set it up, you will never be hit with any fees and your income remains the same. With income drawdown and an ASP, there will be various fees

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    Triviality Payment

    Triviality Payment“>

    If you have a pension that is worth less than £18,000 now or £15,000 from April 2017, (1% of the £1.8 million Lifetime Allowance which is to change in 2017 to £1.5 million) there is the chance you will be allowed to withdraw the entire amount in a single lump sum. All pension savings are

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    Mortality Drag

    Mortality Drag“>

    A large number of people still hang on to the belief that companies grab the value of an annuity once the pension holder dies. The truth is, the ‘cross subsidy’ principle is applied to annuities. In other words, people who live beyond their expected life expectancy are subsidised by those who pass away before their

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    Low Annuity Rates

    Low Annuity Rates“>

    Unfortunately, annuity rates have undergone a steady decline in the last 10 years. Although the last 24 months has seen a mini-revival, this seems set not to last as falling rates are once more in vogue. These low rates do not represent good value for money. It is a mistake to believe that current annuity

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