“The pension industry and its regulators have always adopted a safety-first approach, with the mantra that a pension fund must be accessed sustainably to maintain its value. Greg Kingston, head of communications, product and insight for Suffolk Life, comments: “Flexi-access drawdown should be suitable for any size pension fund for clients prepared to take an element of risk with their retirement savings into their retirement. Once this checklist has been ticked off, there are other factors to consider, such as the client’s overall wealth, risk appetite, tax situation and the client’s ultimate wishes - do they want to drawdown all the money eventually, leave some for their dependents, or retain a portion to pay for any long-term care further down the line? Online digital access and ‘what if’ tools to help keep track of the value of the potĬompetitive charges - not just at the outset, but ongoing Option to choose guarantees for an exra charge What to look for when picking a flexible drawdown product He has a list of eight top tips for clients thinking of picking a flexible drawdown product: “But it is not straightforward to choose and Aegon recommends individuals seek the support of a professional adviser.” He says: “Increasingly, since the freedoms became available, more people are preferring the flexibility that a flexi-access drawdown plan offers. It is also a product that might work best when used as part of a blended approach
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |