Taking your Pension


After all the blood sweat and tears of getting a decent pension fund in place, you’d think the hardest part was behind you. Maybe it is, but now you face a plethora of additional questions. The list can seem impenetrable and daunting and may include:


- Should you buy an annuity or use drawdown?

- If you buy an annuity, can you afford the risk of a higher payment but no inflation proofing?

- If you use drawdown, what is the highest income you can take              without undue risk?

- What should you do with your tax free lump sum entitlement?

- How do you provide for dependents?

- Can you safeguard any of the fund for your children or grandchildren?

- Do you qualify for higher than standard annuity rates due to a health             condition?

- If you don’t buy an annuity, what happens if you change your mind?

- If you use drawdown, how should you invest the money?


Unless you are an expert in the fields of pension law and financial planning, you really should speak to someone who is.


After all, would you ask a financial adviser to design your house, or an architect?