Inshore Independent Financial Advisers   278 Lymington Road   Highcliffe   Christchurch   Dorset   BH23 5ET

Inshore Independent Financial Advisers Ltd is directly authorised and regulated by the Financial Services Authority







   Income drawdown Guide

What are my Retirement Options?

Having spent many years building up pension funds in one or often more arrangements the important decision of how best to take your benefits in retirement can be very confusing!

Originally the options available were limited to a Scheme Pension or Lifetime Annuity and latterly Income Drawdown, however over time many more flexible arrangements were introduced to enable benefits to be taken in the most appropriate way to meet each individuals specific requirements.

On the 6th April 2006 (A-day) the government introduced changes to pension legislations, commonly known as Pension Simplification and the various methods of drawing pension benefits became known as:

Secured Pension

• Lifetime Annuities
• Scheme Pensions
• Enhanced Annuities
• Impaired Life Annuities

Unsecured Pension

• Short Term Annuities
• Income Withdrawal

There are a wide variety of different types of annuity available, including those that increase over time or which will continue to be paid to a husband, wife, civil partner or dependant on death of the annuitant (the person that purchased the annuity). It is not possible to cash in an annuity at any time.

In addition to basic annuities there are specialist products that offer an alternative methods of providing an income from your pension fund:

• Enhanced Annuities



• Unsecured Income



• Phased Retirement Plans



• Alternatively Secured Income

At Inshore we have specialists who are qualified to assess your personal circumstances and enable you to make decisions tailored to your needs.

References to taxation are based on our understanding of current taxation law and practice and may be affected by changes in legislation or by an individual's particular circumstances.