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Ted's story

Flexible drawdown - Ted's story

65 years old

Ted is planning to help his daughter with her university fees. He’s planning to take his 25% tax-free allowance from his pension pot as a single lump sum. He can then leave the rest of his money invested and withdraw chunks as and when he needs them.

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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.

Ted’s figures

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.

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