The purpose of this income drawdown calculator is work out:
The maximum income that you could take from a pension fund withdrawal plan, based upon relevant factors, such as your age, gender and the current Gilt Index Yield.
The are two main options within the calculator:
* Calculate Income Withdrawals from a given pension fund value(s)
* Work out limits from known GAD factors
What is Income Drawdown
Income Drawdown is a personal pension plan which accepts existing pension plan funds. It enables you to put off buying an annuity (an income for life) until several years into retirement. Instead you withdraw a regular income from your pension fund, within limits set by the HM Revenue & Customs. You can vary the amount over time as your needs change. The rest of your fund remains invested. Future income is not guaranteed. It depends on the level of income drawdown, investment performance and future annuity rates. Please note that the value of the remaining fund can go down as well as up and is not guaranteed, and that annuity rates can vary over time. So you could end up with a lower pension than if you’d chosen a conventional annuity straight away.
Retirement Solutions are Independent Financial Advisers and specialise in Annuities and Income Drawdown. Call them on 0800 043 6701
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