Flexi-access Drawdown

A drawdown income is one of the most flexible ways to access your pension. If you are 55 or over, you can normally take up to 25% of your pension as a tax-free lump sum up front by moving into drawdown.

Flexible investing

If you utilise the option to drawdown from your pension, you then have the freedom to select where the remainder of your pension is invested. It also allows you to make further withdrawals when you wish.

If you were in flexible drawdown before 6 April 2015 – or are in flexi-access drawdown after 6 April 2015 – and have taken any income, then your annual allowance is restricted to £4,000 for money purchase pension schemes. You will be unable to pay contributions in lieu of any additional unused relief from previous years.

How does Flexi-Access Drawdown Work?
It is vital you consider how you take your income, based on your personal circumstances. Consideration should also be given to how your income is taxed. Once you have taken your tax-free sum, you are not obliged to take any further income. Your plan can remain invested and you can either take a further income at a later date or leave it to be passed on to your loved ones when you die.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

Committed to your objectives

At Cooper Associates Wealth Management, we work with a number of employers, operating in a variety of sectors and of varying sizes.

Our financial consultants work closely with employers to ensure they are fully aware of the requirements presented by auto-enrolment, ensuring they comply with the latest legislation.
We will work with you to provide a thorough understanding of the process required, with the goal of making the process as smooth as possible, allowing you to focus on running your business.

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Cooper Associates Wealth Management have always put my best interests first by giving advice which is second to none. I would recommend their services to anyone as their knowledge, service and support is exceptional.

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Our Locations

Taunton (Head Office)

T. 01823 273 880

40 St. James Buildings,
St. James Street,
Taunton, Somerset TA1 1JR

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Aztec West,
Bristol BS32 4UB

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London,
EC3V 9BQ

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Theale,
Reading RG7 4TY