by hollyelaine | Apr 2, 2020 | Archive
Retirement Annuity Contract – What is an annuity? Retirement Annuity Contract A retirement annuity contract is a form of retirement fund scheme alternative to capped income drawdown and flexi access drawdown pension schemes. Annuities are classed as secured pensions...
by hollyelaine | Apr 2, 2020 | Archive
Uncrystallised Funds Pension Lump Sum (UFPLS) UFPLS is another option available which allows the investor to avoid going into pension drawdown or buying an annuity. An UFPLS can be paid from uncrystallised money purchase funds as a lump sum – there will be a 25%...
by hollyelaine | Apr 2, 2020 | Archive
Alternatively Secured Pensions This no longer exists as a pension vehicle, and was replaced with Capped Drawdown and Flexible Drawdown from 6 April 2011. Please contact us if you are currently in an Alternatively Secured Pensions (ASP), and wish to know your...
by hollyelaine | Apr 2, 2020 | Archive
Death Benefits in Income Drawdown Both of the new structures have a new tax treatment on death. If death occurs before age 75, the fund passes to the clients estate in the form of a tax free lump sum, or the beneficiary has the option to stay invested in drawdown, and...
by hollyelaine | Apr 2, 2020 | Archive
Advantages and Disadvantages of Drawdown Advantages The following are a number of advantages of pension drawdown that highlight the benefits of deferring taking a pension annuity until later: N An individual will be able to take a tax free cash lump sum...
