and has a
He intends to
a month into it
After which he plans on taking his 25% tax-free lump sum of £AMOUNT so he can help his daughter pay for her university fees. The remaining £AMOUNT he’ll put into an flexible drawdown.
Flexible drawdown will allow Ted to leave his money invested as it potentially continues to grow. He could decide to take a regular income from it until it runs out, or withdraw money as and when he needs it. He could even use some of it to buy an annuity.
- His pension pot now
- His pension pot in 0 years
- His tax-free lump sum in 0 years
- Ted’s flexible drawdown pot
Ted will be entitled to the new State Pension which is currently
£155.65 per week from his State Pension age.
Print this story