Phone:01257 233023 | info@annewray.org
Income Drawdown/ASP
Income Drawdown / Alternatively Secured Pension
Income Drawdown is the facility which enables you to continue to keep your retirement savings invested, and take an income each year rather than buy an annuity. This facility can only be continued to age 75, at which time an annuity has to be bought, or the money must be transferred into an Alternatively Secured Pension (ASP).
The income that can be taken from a drawdown arrangement can be varied each year between a minimum and a maximum. The minimum is £0 and the maximum is 120% of a pension calculated according to tables produced by the Government Actuaries Department (GAD). These tables are based on the amount your fund would buy as an annuity based on your life only and with no allowance for any future increase. The maximum amount needs to be recalculated every 5 years.
The value of your investment and income from it is not guaranteed it can go down as well as up due to fluctuations in investment markets, and you may not get back the full amount invested.
Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor
Pensions Enquiry
Pension Fund Calc
Company address: Anne Wray - Old Chapel House, 3 Heapey Road, Chorley, Lancashire, PR6 9BD
T: 01257 233023
F: 01257 233022
Email: info@annewray.org
Anne Wray Independent Financial Adviser is An Appointed Representative of Sesame Ltd.,
which is authorised and regulated by the Financial Services Authority
Sesame Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427
Commercial Loans are not arranged via Sesame.
The FSA do not regulate National Savings products, personal and commercial loans, wills/will writing, some forms of mortgage, tax planning, inheritance tax planning or offshore funds.
The advice and / or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.