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Pension Drawdown Specialists


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. You may also hear the names Capped Drawdown and Flexible Drawdown when referring to Pension Drawdown.

  • You can take a 25% tax-free lump sum from age 55
  • You can take an income between 0 and 150% 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

If you would like to speak to a friendly advisor about Pension Drawdown, please call us free on 0800 03 04 008, or send us an email.

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Pension Drawdown Calculator

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

This 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 drawdown calculator is free to use. 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.


Chartered Financial Planners

The Pension Drawdown Company is a Chartered practice. So what does it mean to work with a Chartered Financial Planner? What are the benefits? Watch our video below to find out:

This video is provided by the Chartered Insurance Institute (CII) and therefore neither The Pension Drawdown Company nor TenetConnect Limited are responsible for the content.


Changes to pensions arrangements for the over 55s are certainly a hot topic

The Government has shaken up the rules that will affect everyone coming up to retirement and some already in retirement. These changes are due to take effect from April 2015.

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George Osbourne is Scrapping the Death Tax

In April 2015, the Chancellor will scrap the "punitive" 55 per cent rate on drawdown pension funds due when the holder dies. Dr. Ros Altmann, the pensions expert and Government adviser for older people, said: "This is another great piece of news for pension savers".

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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. Pensioners will be better off as they will no longer be required to purchase annuities and they will be able to draw down on their pension without risking incurring charges.

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Pensions

There are many different types of pensions, including Personal Pensions, Final Salary Schemes, as well as several others. Some key features of a pension include:

  • A tax-efficient way of saving for retirement
  • Tax relief is available on contributions
  • In most cases you can transfer and consolidate your plans to alternative providers at any time
  • Choice of options when you reach retirement – Drawdown or Annuity

Read More About Your Pension Options »

Retirement Options Guide

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

Annuities

Buying a Pension Annuity means that you are converting your pension fund into an income that will be paid for the rest of your life. A Pension Annuity is a Secured Pension because the income amount is guaranteed for life, unlike a Drawdown plan which is an Unsecured Pension (USP).

A Pension Annuity can be purchased with the entire pension fund that is available or it can be from funds after the tax-free cash (usually 25%) that you are entitled to has been taken. The amount of income you are entitled to will depend on the Pension Annuity rate at the time of purchase. The Pension Annuity and its terms are fixed at the outset whereas a Drawdown plan allows you to vary the income payments.

Read More About Your Annuity Options »


Latest News View All

60 seconds with Iain Cunningham

18th Dec 2014

Iain, Multi-Asset Fund Manager, explores possible challenges for investors in 2015 and the global, flexible and unconstrained strategies.

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Schroders launches Global Multi-Asset Fund for UK investors

18th Dec 2014

Schroders is launching a global multi-asset income fund to offer more flexibility and choice for those investors seeking income as they approach and go into retirement.

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Outlook 2015: Business Cycle - UK Equities

10th Dec 2014

UK equities should make upward progress in the year ahead given the backdrop of moderate growth, low interest rates and subdued inflation. 

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The information contained to the left is provided by Schroders. Neither The Pension Drawdown Company Ltd nor TenetConnect Limited are responsible for the accuracy of the information contained within this commentary.


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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