The decision as to how to secure income in retirement is vitally important, particularly as most clients will have spent many years saving for retirement.

It is crucial that you are fully equipped with the necessary facts in order to help your clients make the right choice.

The advent of income withdrawal means that  purchasing an annuity in order to secure retirement income is not the only option available . Broadly, there will be a choice of one or more of the following options:

• Purchase a pension annuity plan at retirement. There are a range of options available and the level of income you receive will be dependant on which options are included.

• Draw payments from the accumulated fund and defer the annuity purchase decision - a facility known as drawdown or income withdrawal.

• Take retirement benefits over a period of time by using a combination of tax-free cash and either annuities or income withdrawal - known as phased retirement.

The right choice for you will depend on a number of factors including:

• The combination of benefits you want
• The level of investment risk you are prepared to accept
• Your views on future interest rates
• Your health and that of your spouse or any dependants you would like to provide for in the event of your death.

For independent advice with relation to your options at retirement click here. Alternatively call us now on 01364 643003 or email us at info@claydenassociates.co.uk

Speak to Clayden Associates ... For the good of your wealth.