Retirement Income - Schedule the future annuitisation of a drawdown pension

Default Crystallisation and Drawdown Income Schedule for Money Purchases

Unless set otherwise, money purchases are scheduled by default to crystallise in whole at the owner's Retirement event, with 25% of the funds being taken in lump sum as tax free cash. Drawdown income is also set to begin at the owner’s Retirement event and will be defaulted to the maximum income allowable within the GAD limit with annual checks for eligibility for flexible drawdown. These crystallised funds will continue in drawdown until either the drawdown is depleted or the owner dies, whichever happens first.

 

Schedule the Future Annuitisation of a Drawdown Pension

Drawdown pensions can scheduled to be annuitised, using an event or owner age, on the Drawdown Pension screen’s Drawdown & Annuity > Annuity panel. When scheduling an annuitisation be sure to tick the panel’s Annuitisation Applies check box.

 

Videos

Retirement Income (Webinar 2)