Retirement Planning Planning in retirement is probably the most important decision you will have to make as this determines your future lifestyle. Getting the decision wrong may have a significant financial impact on your day to day living.
Conventional Annuity PurchaseA conventional annuity or lifetime annuity provides a guaranteed income for life. This is purchased with pension fund you have built up over the years. With Profit Annuity PurchaseA with profits annuity provides an income based on the annuity providers profits. This means that income can increase or decrease or stay the same depending on the profits/results posted by the annuity provider. Unit linked Annuity PurchaseA unit linked annuity is similar to a with profits annuity in that it all the same features but it is invested in unit linked funds rather than with profits. Lifestyle/smokers AnnuitiesThe annuity rate, therefore the income you get is based on the fact you smoke. You may also have other lifestyle factors that can be taken into account, such as weight, do you drink more alcohol than the average person etc. Impaired Life Annuity PurchaseImpaired life annuity or enhanced annuities as they are commonly known, generally pays out a larger income to those who have or have suffered a serious illness such as heart attack, stroke to high blood pressure. The amount of income is based on the individual client circumstances. Income DrawdownIncome drawdown is the option which allows personal pension holders to defer their annuity purchase, but to take tax free cash, income or both from the pension fund whilst it remains invested. The income taken can vary up to a government maximum. Phased Income DrawdownPhased income drawdown is similar to income drawdown but it is particular designed for people who want maximum flexibility in retirement and who don't need all of their tax free cash entitlement upfront. Phased Income DrawdownPhased income drawdown is similar to income drawdown but it is particular designed for people who want maximum flexibility in retirement and who don't need all of their tax free cash entitlement upfront. ![]()
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