‘Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want. No caps. No drawdown limits … No one will have to buy an annuity.’

George Osborne1

For many people the value of their pension represents a significant element of their wealth and one that needs to be factored into a comprehensive wealth plan. In Chapter 12 we looked at the issues relating to taking regular withdrawals from an investment portfolio and the potential problems associated with funding a constant expenditure with volatile investment assets. Similar considerations apply to managing the investment strategy of your pension plan(s) and deciding how and when to take ...

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