Retirement: Considering Flexible Drawdown? Three things to do before the end of the tax year

Considering Flexible Drawdown Three things to do before the end of the tax yearIntroduced a couple of years ago, Flexible Drawdown has given an additional option to would-be retirees, who want to convert their pension pot into an income. Essentially, Flexible Drawdown was designed to allow those people who qualify, greater access to their pension fund; in fact, unlike other options, it allows unlimited access. Flexible Drawdown rules Flexible Drawdown works in a very similar way ...

Pensions: HMRC warn about pension ‘unlocking’ schemes

FTAdviser, a publication for Independent Financial Advisers, are reporting that HMRC have issued a stark warning to people considering ‘unlocking’ their pensions and accessing the capital before the age of 55. FTAdviser reported yesterday that two websites, promising to be able to ‘unlock’ an individual’s pension before the age of 55, were causing particular concern. Retirement rules Pension rules mean that an individual cannot generally access the tax free lump sum or income from their pension until the age of 55. Our ...