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?
Download your copy of “7 useful questions if you plan to take a flexible income from your pension” to understand some of the areas you might want to consider if you plan to use flexi-access drawdown.
If you have any questions about your pension or how to create an income in retirement, please contact us to arrange a meeting.
Please note: This guide is for general information only and does not constitute advice. The information is aimed at retail clients only.
Approved by The Openwork Partnership on 21/09/2023.
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