How can I take my Personal Pension/SIPP? Your Retirement Income Options and Planning for your Retirement!

In this video I give an overview of some of the key ways you can take your Personal Pension or SIPP.

I highlight three of the main ways that you can take an income from your Pension and give real quoted examples that have been sourced from the open market.

I give an idea of the income that can be obtained using either Flexi-Access Drawdown, purchasing an Annuity or a Fixed Term Annuity.

The basis of the Annuity is assumed as follows: -

*Standard rate (not enhanced, the client has no medical/lifestyle factors that increase the starting rate of the annuity)
*Level
*Payable monthly in arrears
*Single life basis (no spouses/dependents benefit has been built in)

⏰
0:00 - Introduction
1:22 - What to watch out for?
2:11 - Tax?
2:38 - Annuity
5:47 - Annuity or Drawdown?
7:09 - Increasing Annuity
8:42 - Fixed Term Annuity
10:10 - Flexi Access Drawdown
12:15 - Bye!

Link to the Money Advice Service website for more general information about pensions and the options available to you: -

https://www.moneyadviceservice.org.uk/en


Video on how to check your State Pension Age and Forecast:
   • UK STATE PENSION AGE & FORECAST - How...  

🗒 Please note:
The information provided is based on the current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.

All references to taxation are based on my understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances.

This channel is for information and education purposes only. Any information or guidance given does not act as financial advice. Please consult a financial adviser if you are unsure in anyway.

Keep in mind that the value of your investments can go down as well as up, so you could get back less than you invest.

⭐ My aim is to provide education and guidance to help individuals understand pensions, investments and protection.

#pensionplanning #retirementplanning #retire