Pension Drawdown
Often referred to as Income Release, Pension Release and Income Drawdown is simply a much more flexible alternative to buying an annuity. Key points / regulations: aged over 55 have a pension fund that has built to a suitable level can release a cash lump sum, tax free without having to retire or take an income from the fund. In addition to the tax free lump sum, you are also allowed to take regular income withdrawals however, unlike the tax free lump sum, the additional withdrawals are taxable. The remainder of your pension fund will still continue to be invested in the normal way until retirement.