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  • Income Drawdown - frequently asked questions - Royal London for advisers

    Income Drawdown - frequently asked questions Q Guy is considering transferring his capped drawdown plan to a new provider. Can he do this and keep his plan as a capped drawdown plan or will it convert to a flexi-access drawdown plan? A Yes he can. Although it has not been possible to start a new...

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    Frequently asked questions

  • Governed Range for drawdown - Royal London for advisers

    Governed Retirement Income Portfolios (GRIPs) An investment proposition specifically for income drawdown. Our Governed Retirement Income Portfolios (GRIPs) are designed for customers who are looking to take a regular income. They come with the same expert governance and automatic updates...

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    Investment options

  • Income drawdown - Royal London for advisers

    Integrated drawdown facility Pension Portfolio lets you move your clients seamlessly into drawdown – from within the same plan. We call this Income Release. Available to clients aged 55+ with at least  £15,000 in their Core Investments. We’ll typically pay tax-free cash into your client’s bank...

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    Personal

    Income Release

  • Capped income drawdown and review dates - Royal London for advisers

    Capped income drawdown and review dates Capped income drawdown involves taking a pension directly from a fund instead of buying an annuity. There is, however, a limit on the maximum amount of income that can be withdrawn during a year and this limit is reviewed on a frequent basis. Key facts Since...

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    Information and guidance

  • Income drawdown from Royal London - Royal London for advisers

    Income drawdown from Royal London At Royal London, we’re committed to supporting you and your clients. That’s why we’ve composed a drawdown proposition that will be music to your ears. From carefully crafted investments, to flexible retirement options, we’ve fine-tuned things to create an overall...

  • Income drawdown – changing the conversation - Royal London for advisers

    Income drawdown – changing the conversation Lorna Blyth 26 November 2018 Pension freedoms gives savers significant flexibility in deciding how much to take out of their pension each year. This is driving dialogue about income requirements, where and how to invest in order to meet...

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    News

    Blog

  • New Defaqto drawdown guide - ‘Using drawdown to provide a sustainable income’ - Royal London for advisers

    New Defaqto drawdown guide - ‘Using drawdown to provide a sustainable income’ 1 October 2020 Share Share We’re proud to sponsor this year’s Defaqto drawdown guide – ‘Using drawdown to provide a sustainable income’. What’s in the guide? We’ve worked closely with Defaqto and our own Royal London...

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    News

    Blog

  • Will your drawdown clients’ income last? - Royal London for advisers

    Will your drawdown clients’ income last? 29 November 2018 Share Share We consider income sustainability and how our drawdown governance service can help you look after your drawdown clients. Recent figures from our drawdown governance service have shown that just under half of Royal London drawdown...

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    News

    Blog

  • Remuneration - Royal London for advisers

    ...contribution into your client’s plan before cancelling units to pay the adviser charge. We'll always deduct the charge from your client's plan before making a payment to you. Self Investments and income drawdown If your client uses our Self Investment and/or our income drawdown facility – Income...

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    Personal

    Pension Portfolio

  • Benefit options - Royal London for advisers

    ...on pensions technical topics. Reaching age 75: our top five frequently asked questions Income drawdown One of the most popular options is income drawdown. There are two types: capped and flexi-access drawdown. Flexi-access drawdown Since 6 April 2015 any new drawdown plans must be a flexi-access...

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    Information and guidance

  • Sustainable income levels can safeguard portfolio strength during volatile markets - Royal London for advisers

    How sustainable income levels can protect portfolio strength 15 February 2019 Share Share Taking a sustainable level of income is important in helping drawdown customers maintain a resilient portfolio during periods of investment volatility. ×Close Customers in income drawdown should think about...

  • Why there’s no such thing as a typical drawdown customer - Royal London for advisers

    Why there’s no such thing as a typical drawdown customer 25 July 2019 Share Share Find out what our data tells us about the ‘average’ client in drawdown. Before pension freedoms, the majority of retirees were choosing an annuity over income drawdown. However, with more retirees looking to take...

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    News

    Blog

  • Death benefits pre 6 April 2015 overview - Royal London for advisers

    ...allowed the payment of a capital sum triggered by the dependant's death, apart from annuity protection, and not have been capable of being assigned or surrendered, unless there was a pension sharing order Dependant's capped drawdown pension Dependant's income could have been paid in two ways. Either...

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    Information and guidance

  • Taking benefits - Royal London for advisers

    ...on the type of plan, to phase benefits. Income from a pension is taxed as earned income. Income can be paid in one or a combination of ways: Secured pension Income drawdown Partial Uncrystallised Funds Pension Lump Sum The options on how the benefits can be provided depends on the type of pension plan...

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    Information and guidance

  • Retirement options follow-up mailing - Royal London for advisers

    ) 2TLT1337/1 Individual Personal Pensions Individual Talisman Phased Retirement Plan 2TLT1334 Individual Personal Pensions Individual Talisman 98 Income Drawdown 2TLT1334 Individual Personal Pensions Individual Talisman 98 Phased Income Drawdown 2TLT1334 Individual Personal Pensions Individual Talisman 98...

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    News

  • Frequently asked questions - Royal London for advisers

    Eligibility Income drawdown Investments, property and borrowing Lifetime Allowance Overseas Pension ages Pensions and divorce Protection - primary, enhanced, fixed and individual protection Qualifying recognised overseas pension schemes (link to HMRC website) Retirement benefits Safeguarded rights Salary exchange Scheme sanction charges (link to HMRC website) Transfers Triviality and small pots...

  • Drawdown trends and safe withdrawal rates - Royal London for advisers

    Drawdown trends and safe withdrawal rates Lorna Blyth 30 April 2018 We consider the emerging drawdown trends two years since the launch of our Drawdown Governance Service. Our Drawdown Governance Service tracks clients’ plans against an income sustainability score and provides advisers...

  • Keeping your clients on track - Royal London for advisers

    Are your clients still on track? 21 February 2019 Share Share Our drawdown governance service (DGS) has been designed to help you monitor the sustainability of your clients’ income and see when things are heading off track. Every quarter, our drawdown governance service calculates a new income...

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    News

    Blog

  • Income sustainability scores updated - are your clients still on track? - Royal London for advisers

    Income sustainability scores updated - are your clients still on track? 14 November 2019 Share Share Our drawdown governance service has been designed to help you monitor the sustainability of your clients' income and see when things are heading off track. Every quarter, our drawdown governance...

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    Income Release

    Tools

    Tools and support

    ...

  • Pensions A to Z - Royal London for advisers

    ...schemes (DWP) Automatic enrolment - our top five questions  B Bankruptcy and pensions Basic State Pension Benefit crystallisation events and the lifetime allowance charge C Capped income drawdown and review dates Carry forward Carry forward in the 2015-16 transitional year Carry forward of unused annual...

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    Pension freedom

    Auto enrolment

    Information and guidance

    ...

  • HMRC Inheritance Tax Manual - Royal London for advisers

    IHTM17091 Excepted group life policies IHTM17100 Other provisions IHTM17101 Pensions: other provisions: Tax Bulletin IHTM17102 Pensions: other provisions: income drawdown IHTM17103 Pensions: other provisions: ABI guidance note IHTM17104 Pensions: other provisions: lifetime transfers IHTM17106 Pensions...

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    Pension freedom

    Auto enrolment

    Information and guidance

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  • Latest pension news with Viewpoint - Royal London for advisers

    Skip to content Contact us Search Login / Register FOR ADVISERS ONLY Toggle navigation Home Pensions Protection Investment Technical Central Literature library Tools About us Personal pensions Workplace pensions Investment Income drawdown Tools Why us? Welcome to Viewpoint Viewpoint is designed...

  • Lifetime allowance explained - Royal London for advisers

    ) used to secure either: Income Drawdown (whether capped* or flexi-access drawdown), or Short-term annuities * It's not been possible to set up a new capped drawdown plan since 6 April 2015 Secured Pension - The valuation basis used depends on the option chosen when benefits are crystallised...

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    Information and guidance

  • Now is the time to review your drawdown advice process - Royal London for advisers

    Now is the time to review your drawdown advice process Ryan Medlock 14 May 2020 Share Share The first quarter of 2020 has been one of the most volatile periods that financial markets have ever experienced and for many clients taking regular income in drawdown this has been the first real episode...

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    News

    Blog

  • Trivial lump sums - Royal London for advisers

    ...to the above value. Money purchase scheme The total market value of the funds/assets held. Cash balance plan The value of the benefits as calculated in line with the scheme rules. Annuity in payment before 6 April 2006 Multiply the member's annual annuity at 5 April 2006 by 25. Income drawdown...

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    Information and guidance

  • Money purchase annual allowance - Royal London for advisers

    ...are the main triggers for the money purchase annual allowance: - taking an uncrystallised funds pension lump sum - taking flexi-access drawdown income - taking more than maximum Government Actuary's Department income from a capped drawdown plan The money purchase annual allowance does not apply to defined...

  • Lifetime allowance - how benefits are tested - Royal London for advisers

    ...the death benefits received. The lifetime allowance excess tax charge is 55% (£59,720.66) if taken as a lump sum or 25% (£27,145.76) if used to provide pension income such as drawdown or an annuity. As he died before age 75 any income or lump sum will be income tax free.3 It would therefore make sense...

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    Information and guidance

    Case studies

  • Drawdown governance service - Royal London for advisers

    Drawdown governance service Coronavirus has had a significant impact on financial markets – that’s why it’s more important than ever to review your clients’ pension plans - especially if they’re relying on this to provide them with a regular income. Supporting you and your pensions clients Find out...

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    Tools and support

  • Nominee and successor flexi-access drawdown - Royal London for advisers

    ...to be a dependant to receive drawdown income on the death of a member. Nominees are individuals nominated by the plan member. Successors are individuals nominated by the nominee. Scheme administrators can only nominate a beneficiary for flexi-access drawdown if there are no surviving dependants or nominees...

  • Use our tools for pensions and retirement - Royal London for advisers

    ...change over time. Client review service Use as part of your regular review process to show clients how their plan is doing and what their future looks like. Drawdown governance service Helps you monitor the income your drawdown clients are taking and see when things are heading off track. Risk...

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    Tools

  • Autumn Statement 2013 - Royal London for advisers

    (GAD) was commissioned to review the income drawdown tables and the underlying assumptions used to provide drawdown rates to make sure they continue to reflect the annuity market. As a result of its findings, there will be no change in the basis on which the GAD tables are formulated. State pensions...

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    Information and guidance

  • Our tools assumptions for Q3 2020 are now updated - Royal London for advisers

    Income sustainability scores now updated - Q3 2020 25 November 2020 Every quarter, our drawdown governance service calculates a new income sustainability score for your clients, based on what's happening in the market. The income sustainability scores for Q3 2020 have now gone live. Here’s...

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    News

    Blog

  • Retirement - frequently asked questions - Royal London for advisers

    drawdown income, will his Pension Credit remain unaffected? A: DWP will assume he's receiving a ‘notional’ income from his drawdown plan and calculate his Pension Credit (and any other means-tested benefits he receives) accordingly, regardless of the amount of drawdown income he actually takes...

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    Frequently asked questions

  • Lifetime allowance charge - Royal London for advisers

    ) entitlement of 25% and he wanted to take the income element by drawdown and the excess benefits over the LA as cash.  The tax charge would have been as follows:  *TFC is the lesser of: 25% of the benefits value at crystallisation (£2,500,000 x 25% = £625,000), and 25% of the LA at crystallisation...

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    Information and guidance

  • Our summary and thoughts on the FCA’s recent feedback statement 19/5: Effective competition in non-workplace pensions - Royal London for advisers

    ...to Individual Personal Pensions, Stakeholder pensions, SIPPs, FSAVCs, S32s and RACs.  You’ll have noticed decumulation products such as income drawdown aren’t included in this list of “non-workplace pensions”. That’s because they’re covered as part of the Retirement Outcomes Review - you can read...

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    Opinion

    Workplace pensions

  • Why transfers in drawdown (TIDs) will be a key theme for advisers and the industry - Royal London for advisers

    ...retirement due to no longer having sufficient funds or be concerned about the sustainability of their income. Others may be looking to tap into their pension and drawdown plans to help them make ends meet in the short term. It's clear there's a strong demand for financial advice as people look...

  • Covid-19 and the money purchase annual allowance (MPAA) - Royal London for advisers

    ...of which are: taking income from a flexi access drawdown plan taking income greater than the max GAD from a capped drawdown plan taking an uncrystallised funds pension lump sum (UFPLS). Of course, many people are under financial strain during the current COVID-19 crisis and may be tempted to access...

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    Pension freedom

  • Lifetime allowance - All you need to know - Royal London for advisers

    ...lump sum) and the charge is 55%. Alternatively, the excess can be used to provide an income, by either a pension annuity or income drawdown. The charge is then 25% but of course any pension instalments or withdrawals made will be taxed at the individual’s marginal rate of income tax...

  • Sophisticated tools - Royal London for advisers

    ...into the year on year performance of their plan - and how the future might look for them.   Drawdown governance service For clients who are taking a regular income, you can use our drawdown governance service to create branded reports to help you track, discuss and manage the ongoing sustainability...

  • De(CIP)hering CRPs - Royal London for advisers

    ...the products you recommend match the needs and objectives of your target clients. Putting into practice Let’s use an example of sub-segmenting drawdown clients by their income needs. You may have clients requiring high, regular levels of income and/or some who require very little or ad-hoc levels...

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    Investment governance

    News

    Blog

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The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.