Capped drawdown

A way to take an annual income from your personal pension fund, based on factors such as its value, your age, and rates set by the Government. The amount you may withdraw can be anything between zero and a set maximum, which is reviewed every three years until age 75, then once a year.

 

See also: Enhanced annuity, Open Market Option, Income drawdown, Flexible income drawdown, Hybrid pension schemes, Annuity

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