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

    Nominee and successor flexi-access drawdown The retirement freedoms introduced the concept of nominee and successor flexi-access drawdown.  We consider what they are, how they operate and their attraction. Key facts Since 6 April 2015 you no longer have to be a dependant to receive drawdown income...

  • 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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  • Death benefits - nominating beneficiaries - Royal London for advisers

    Death benefits - nominating beneficiaries Here are some of the more frequently asked questions we've been asked about nominee flexi-access drawdown and successor flexi-access drawdown. Q: The member wants the death benefits to be paid to their spouse (if the spouse is still alive) in the form...

  • What is flexi-access drawdown? - Royal London for advisers

    What is flexi-access drawdown? Flexi-access drawdown (FAD) replaced the capped and flexible drawdown options for individuals setting up a new drawdown plan from 6 April 2015. Any existing flexible drawdown plans automatically became FADs on 6 April 2015. Key facts Flexi-access drawdown is only...

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    Information and guidance

  • 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

  • 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

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  • 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

  • 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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  • Benefit options - Royal London for advisers

    FAQs 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

  • 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

  • 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

  • Frequently asked questions – death benefits - Royal London for advisers

    ...out, income tax will apply instead of the lifetime allowance tax charge. Why is it important to nominate beneficiaries for drawdown? The scheme administrator can only nominate a beneficiary to receive flexi-access drawdown where there’s no surviving dependant or nominated beneficiary. If there’s...

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  • 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...

  • 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

  • Death benefits - Royal London for advisers

    drawdown Major changes to the tax charges that apply to benefits paid on the death of a pension scheme member took effect from 6 April 2015.  This article explains how the funds were treated prior to then. Death benefits pre 6 April 2015 overview The Finance Act 2013 introduced a change which limits...

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    Information and guidance

  • 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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  • Death Benefits - frequently asked questions - Royal London for advisers

    ...they die the fund can be passed on completely tax-free to any beneficiary as a lump sum, drawdown pension or annuity, all will be paid tax-free.  Though a dependants scheme pension, irrespective of the age at death, is still liable for income tax. A lifetime allowance check will be made...

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    Frequently asked questions

  • Lifetime allowance explained - Royal London for advisers

    ...in drawdown funds. A full list of the different types of BCEs can be found in HMRC's Pensions Tax Manual. Valuation of pension benefits Defined Benefits Defined benefit schemes can only offer a scheme pension. A scheme pension involves paying a pension for life out of the scheme assets or buying an annuity...

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    Information and guidance

  • Autumn Statement 2014 - Royal London for advisers

    ...welcome the fact that no further significant changes have been made that affect the pensions industry. The abolition of tax on annuities paid on death brings them into line with flexi-access drawdown funds paid on death.    However there are various parts of the Statement that are worth commenting...

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    Information and guidance

  • How sustainable is your client’s cash flow? - Royal London for advisers

    How sustainable is your client’s cash flow? 28 May 2019 Share Share We look at some key facts and benefits of our drawdown governance service. We have over 26,000 customers registered for our drawdown governance service Every quarter, the system calculates and flags new sustainability scores...

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    Blog

  • Supporting your drawdown conversations - Royal London for advisers

    Supporting your drawdown conversations From useful articles to engaging webinars, we’ve designed this drawdown hub to help your client conversations hit all the right notes. These videos dig deeper into how advisers conduct their drawdown conversations, including choosing the right drawdown product...

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    Income Release

  • 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

  • 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

  • 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

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  • 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...

  • Money purchase annual allowance - Royal London for advisers

    ...are the main triggers for the MPAA: - taking an UFPLS - taking FAD income - taking more than maximum GAD income from a capped drawdown plan The MPAA does not apply to defined benefit accrual. Case study PTM056500: money purchase annual allowance On 6 April 2017 the money purchase annual allowance (MPAA...

  • 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

  • 2015 Budget Summary - Royal London for advisers

    . Alternatively, the pensioner will be allowed to swap their annuity for a flexi-access drawdown plan from which they can withdraw money without limit or a flexible annuity. Selling an annuity whether for a lump sum, flexi-access drawdown plan or flexible annuity will trigger the Money Purchase...

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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...

  • Transfers - frequently asked questions - Royal London for advisers

    ...allowance at date of transfer, except where the transfer is to an overseas scheme (QROPS). Crystallised benefits If the benefits have been designated to drawdown the whole of the drawdown pension fund or flexi-access drawdown fund under an arrangement must be transferred - a partial transfer...

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    Frequently asked questions

  • 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

  • FCA Retirement Outcomes Review final report and consultation - Royal London for advisers

    ...age 65. 55% of retirement savings accessed were fully withdrawn, albeit the bulk of these were below £30,000, the triviality limit prior to pension freedoms. Twice as many pots used to purchase drawdown as annuity. 32% of these drawdown plans were established without advice, compared to 5% before...

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    News

  • Business Support Unit [pensions] - Royal London for advisers

    ...switching reports Retirement modeller tool – drawdown scenarios Drawdown switching reports Provider comparison reports Model portfolio price comparisons Product filter templates Investment research Product research Create your bespoke investment templates Help you with risk mapping Create custom...

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    Business

    Online service

    Tools

  • Mobile App: Frequently asked questions - Royal London for advisers

    ...of the app is view only, so they won’t be able to make changes. Clients in drawdown Can my clients with an Income Release Plan use the app? If customers have an Income Release Plan and they’ve taken tax-free cash but never had a regular income, they’ll be able to use the app. If they are taking...

  • 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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  • Retirement Outcomes Review phase 2 – changes to drawdown key features illustrations - Royal London for advisers

    Retirement Outcomes Review phase 2 – changes to drawdown key features illustrations 2 April 2020 Share Share We’re introducing a new one-page summary and updated New Business drawdown key features illustration as a result of the FCA’s new rules on drawdown and UFPLS disclosure. The FCA published...

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  • New and improved annual statement for your Income Release clients - Royal London for advisers

    ...of their plan – and their outlook for the future.[1] Our Drawdown Governance Service can give you the tools to plan, track and manage a sustainable level of income for your clients. Find out more If you have any questions about the new statements, please speak to your usual Royal London contact. [1] Our...

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  • Managing a drawdown plan through volatile markets - Royal London for advisers

    Managing a drawdown plan through volatile markets 28 May 2020 Share Share Seeing negative investment performance due to market volatility is naturally an uncomfortable situation for clients to be in when they’re relying on that investment to provide an income in retirement. Since the shift from...

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    Blog

  • Governed range factsheets - Royal London for advisers

    ...solution Governed Portfolios Governed Retirement Income Portfolios Target Lifestyle Strategies Pick a strategy Factsheets Factsheets Targeting annuity Targeting cash Targeting drawdown Factsheets Risk Category Time Period   Long Medium Short Adventurous Governed Portfolio 7 Governed Portfolio 8...

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    Fund information

  • Our drawdown governance service turns three - Royal London for advisers

    Our drawdown governance service turns three 25 June 2019 Share Share As we celebrate the third birthday of our drawdown governance service (DGS), let’s take a look at the numbers so far. Over 26,000 customers are registered on DGS. 70% of these customers are taking an income. The average amount...

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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.