What’s the Difference Between an Income Drawdown and an Annuity?

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What’s the Difference Between an Income Drawdown and an Annuity?

An income drawdown is an alternative method of utilising your pension funds to the more traditional Annuity method. The product has also, in the past, been referred to as an ‘unsecured’ pension. Unlike a traditional annuity where you purchase a lifetime income from your pension fund, with an income drawdown scheme, you retain the capital in investment form, drawing income from the capital.

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