Flexible retirement income is becoming an increasingly popular way of ensuring your money works for you in your retirement.
This week’s Tony Talks Wealth episode takes you through how it works, and why it might be the financial answer you’ve been looking for.
Key Takeaways
Flexible retirement income involves reinvesting your pension funds, with the aim of giving you a regular taxable income throughout retirement.
Users set the income they want, although this may change on a regular basis depending on the performance of your investments. You must manage this carefully as it is not guaranteed for life. Always take advice.
Bear in mind that large withdrawals may take you into a higher tax band. If the value of your pension savings is above a certain threshold, then further tax charges might apply.
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