Retirement: Scheme Pension, an alternative to an Annuity or Income Drawdown?

Guest Blog Talbot & MuirMost would-be retirees are aware of how an Annuity works and other options such as Enhanced Annuities, Income Drawdown are becoming more popular. However, as falling gilt yields push Annuity rates ever lower and reducing the maximum available income from Income Drawdown plans, one retirement option is passing most people by completely unnoticed. We asked Oliver Bowler, of Talbot & Muir, to explain more about Scheme Pension, what it is, and how it works, this is what he had ...

Income Drawdown rules to change from 6th June 2011

New Income Drawdown rules will reduce the maximum level of income available. New rules limiting the maximum level of income which can be taken from Income Drawdown plans, which were introduced in the first emergency Budget in 2010, come into force on 6th June 2011. In line with the Finance Act 2011 all new Income Drawdown plans, or regular reviews on existing arrangements taking place on or after 6th June 2011, will be subject to new rates. Under the new rules the maximum income which can be taken from Income Drawdown plans will be reduced. For many people with Income Drawdown plans, especially those ...