Income Drawdown Pensions

If you're over the age of 55 you will have the option to use Income Drawdown Pensions to provide benefits for retirement. Basically this is the continuation of the investment of your pension funds after the withdrawal of tax free cash.

The majority of pension funds allow for a maximum of 25% of the fund to be taken as a PCLS at retirement. This can then be used for any purpose you see fit, such as reducing or removing debt, investment or to supplement other income.

Income Drawdown Pensions can be a daunting area of financial planning to get your head around. If you'd like any advice on income drawdown pensions, or other retirement advice contact AT Retirement Advice.