Pensions are not just about saving for retirement, they can release capital before you retire too if that’s what you want and plan for. A Flexible Access Drawdown plan, which may also be referred to as Pension Release, Income Withdrawal or Income Drawdown, is a special kind of personal pension plan that allows you to access the money locked up in your pension, offering higher rates and greater flexibility than an annuity would.
A drawdown allows you to take a lump sum or an income from your pension any time after your 55th birthday. In fact you can release up to 25% of your pension at that time or take an income from it. At Leagold Miller we will help you to establish whether your current pension allows you to do this or we’ll help you to find one that does. We’ll assist you with your financial planning for your future to make sure that you can afford to release the funds you wish to access. We’ll minimise your tax liabilities and keep you informed of any changes to your scheme as a result of your drawdown.
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