When you start to access your pension, how will you take an income? One of your options may be to withdraw a flexible income that suits your needs through flexi-access drawdown.
A flexible income puts you in control and means you can adjust how much you withdraw from your pension if you need to. However, you also need to consider what income is the “right” amount to balance your short- and long-term needs.
As a result, there are some factors you may want to think about when managing pension withdrawals if you’re using flexi-access drawdown. This guide covers seven important considerations, including:
- How long does your pension need to provide an income?
- How could inflation affect your income needs?
- What tax could your pension withdrawals be liable for?
HOW WE CAN HELP
This document is an overview to give you the information necessary to help you make the right decision for your circumstances.
To find out any more about our services or talk through your own situation, please get in touch.