Pension drawdown is a way to receive income on a regular basis from your personal pension pot while allowing your pension fund to keep on growing.  The percentage growth of the fund will be dependent on market performance.  If your investments do well, your pension fund can carry on growing which means your retirement income will increase too. Conversely, the value of your income could also go down if your investments do badly.

From April 2015, the government announced the introduction of pension flexibility. These changes to pensions mean that you have much more freedom over what to do with your pension savings.  You don’t need to take all your benefits at one time. You can leave your pension invested so it has the potential to continue to grow, take some or all of it, or use it to provide an income. When you take your pension, some will be tax-free but the rest will be subject to a marginal rate of tax.

New products have been introduced to reflect the new pension flexibility.  With so many new product options available in the market, it is now more important than ever to take regulated financial advice from a pension specialist to ensure you are making the right decisions for your future.

Whether you are thinking of retiring fully, gradually or delaying retirement, it’s important to check your pension paperwork.  At Iceni Financial Advisers, we understand that pensions can be a complicated and bewildering subject. Our qualified and regulated Pension Advisers offer a bespoke service to all clients and can tailor advice to your precise needs