You have the option to combine an annuity and drawdown: a mix of guaranteed and sustainable lifetime income with the flexibility that drawdown brings.


Combining income options could help you to find the right balance to match your specific needs in retirement. While drawdown offers flexibility to access your funds as you wish, you must ensure that your fund continues to perform and accept the risk that it could run out before the end of your retirement. An annuity offers security that your income will last for the rest of your life but doesn’t come with the same access to capital as drawdown.

For some, initially a full drawdown solution may be appropriate, with a shift towards an annuity as time progresses; this option combines the security of an annuity with the flexibility of drawdown. In some circumstances, this may provide a valuable solution to difficult problems, but a mix of secure and flexible income can be both complex and expensive. It’s highly recommended that you seek professional financial advice before making a decision.

If you would like to discuss the suitability of a mixed income option for your retirement plan, please contact us to speak to an independent financial adviser, who can help to find the best solution for you.

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