This area of expertise is again very complex and needs to be looked at very carefully.
Remaining invested as opposed to buying an annuity is not for everyone. There are certain risks involved but many clients feel the flexibility and control in the future is much more important.
The most common approach is to use a Personal Pension Plan or Self Invested Personal Pension Plan contract as a platform and switch to Income Drawdown mode on a total or Phased and layered basis.
Our lead Consultant has a lot of experience in this particular area having dealt with hundreds of clients of all shapes and sizes. Market opinion is somewhat divided some say you should have total retirement funds of at least £100,000 to consider this option but we have known cases down to £30,000 in appropriate circumstances.
The added attractions of this option are that you are not locking your funds away indefinitely, you can control the levels of pension and tax free cash payments to some degree, the death benefit options are greater and this can offer protection of capital. Annuity rates are very poor at present (due to low interest rates and ever increasing mortality rates largely due to improved living standards and new medical breakthroughs all the time).
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