Flexible drawdown

Ted is 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 and has a pension pot of £5,000 £10,000 £15,000 £20,000 £25,000 £30,000 £35,000 £40,000 £50,000 £60,000 £70,000 £80,000 . He intends to continue paying nothing £50 £100 £200 £300 £400 £500 £600 a month into it for the next 0 years 1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years . After which he plans on taking his 25% tax-free lump sum of £17,500 so he can help his daughter pay for her university fees. The remaining £52,500 he’ll put into a flexible drawdown.

Flexible drawdown will allow Ted to leave his money invested so it has the potential to continue 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.