So you want to wind down your workload gradually?
Take an income from your pension fund bit by bit
If you're
planning to wind down your workload gradually you may want to discuss
a Phased Retirement plan with a Financial Adviser.
Phased Retirement at a glance
- Take some income each year in a tax-efficient way (your income will be made up of a tax-free cash sum and an annuity or income drawdown)
- Keep the rest of your plan value invested until you buy your final annuity
- Provide your spouse* or dependant with an income or cash sum if you die before you buy your final annuity
- Make extra payments into your plan (minimum £10,000, subject to acceptance by Scottish Widows and HM Revenue & Customs (HMRC) limits)
* includes husband, wife or registered civil partner
To find out more about Phased Retirement plans call us on 08457 678910* and choose option 2.
