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Home > Pension Advice > Pension Drawdown
Thinking about taking your pension money flexibly but not sure how or whether it’s right for you? Life is full of unexpected twists and turns but our pension experts can help work out a pension drawdown plan that has you covered in both the short and long term.
Call us now on 0161 413 7051 or arrange a call back.
From the age of 55, depending on your pension drawdown provider, you should be able to take up to an initial 25% of your pension pot tax-free. Many people love the flexibility of taking their money when they need it, but how does pension drawdown work?
You can take your pension at any time over the age of 55. Still, careful consideration needs to be taken to ensure you don’t run out of money early. Taking an initial 25% tax-free could be a good idea to pay off any debts like credit cards, mortgages or car loans to help you become debt-free when you retire.
With drawdown, you can make single withdrawals or set up regular withdrawals as and when you like, provided you still have money invested. Make sure you are aware of all the pension drawdown rules before rushing into anything, or if you would like to learn more, just follow the link to our in-depth article on what pension drawdown is and how it works.
The rest of your funds will remain invested, so have the potential to grow, but also the potential to lose money in a market crash.
Hilltop Finance is an expert pension drawdown provider. If pension drawdown interests you, then we can help! It is advisable to speak with a member of our team who can put together a robust plan on how to take your money and help alleviate the chances of running out of funds. Contact us today!
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You need to carefully plan how much income you can afford to take if you’re thinking of taking your money flexibly otherwise you could risk running out of money. This could happen:
It can be difficult and complex to prepare for your retirement but our advisers can help using their expertise and knowledge. Once you retire, our advice doesn’t need to stop. We can continue to monitor your pension funds and make sure they are in the most suitable place for you.
We’re committed to going the extra mile, holding your needs and requirements at the centre of our trusted advice. Everybody is different, and the financial advice we deliver reflects that. Our professional advice is always relevant, personalised and tailored to you.
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Even after you’ve done your research, you’ll probably still have some questions. Why not give one of our friendly team a call and explore whether financial planning advice might be right for you.
Call now on 0161 413 7051 We’re open: Mon to Thurs 9am – 5pm and Fridays 9am – 4pm
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