Taking Your Benefits Early - Income Drawdown
If you are aged 50 or over and have a pension that you are not currently receiving or contributing to, you could receive a tax free cash sum and/or income now from that pension. You could even access your Tax Free Cash leave your money invested and take no income.
The advantages of income Drawdown are:
- The tax-free lump sum can be taken from your pension
- The income can be varied between an upper limit and no income (the upper limit is set by the government)
- Avoid buying an annuity
- Don't have to decide on whether to include spouse's benefits on an annuity
- The fund remains invested in a favourable tax environment
- As the fund is still invested it could grow further
Global Aviators can advise you on your options.
Are you ...
Concerned with the speculation concerning the strength of occupational pension schemes? More ..
Interested in taking your pension benefits earlier your employers scheme will allow? More ..
Wanting more tax-free cash than your current scheme will provide? More ..
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