![]() The wrong pension plan / pension plan structure – your pension lacking the right features may cost you and your family dear. ![]() ![]() Nor will pension plans with product exit fees. Single managed fund solutions stop you from temporarily targeting, for example, bonds for income in a downturn.Ģ. The wrong fund(s) and asset allocation – there may be trouble ahead! With profits and smoothed funds won’t work for flexi-access drawdown. Top 5 flexi-access pension income drawdown mistakes:ġ. Risk gets real! If you’d prefer your money to outlive you rather than run out– feel free to drop me a line. I love this stuff! The benefit of 22 years' experience in advising in this area, is being able to recognise where pension 'drawdown' can (and often does) go wrong - so we can make sure our clients have the best chance of retirement success.Īfter all, there are only ever 2 outcomes with retirement income – the money outlives you - or you outlive the money (and there is no dignity in that). That method of delivering retirement income may (or may not) be a good idea - depending on your attitude to risk, overall income needs and other criteria. Newer 'drawdown' since April 2015 is now called flexi-access drawdown. ![]() This is where, instead of buying a guaranteed income (annuity) with your pension fund, you withdraw (drawdown) the funds direct from your pension pot(s). Back in April 1998 - I was a bit younger! Apart from that, I set up (so I'm told) the UK's first ever 'pension drawdown' plan via insurer Skandia Life. ![]()
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