Guidance on Flexi-Access Drawdown

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No matter how old you are, it is never too early to plan for your retirement Here at Opal Wealth Management. our friendly. knowledgeable learn of pension advisers can help save you time. money and hassle by helping you plan your retirement now. We feel that as retirement approaches, you deserve to be able to concentrate on planning how to spend your time rather than on saving your hard-earned assets.


Once you retire, without an income built to support you for the rest of your life, those bills can mount up. leading to unnecessary stress and worry. With our industry knowledge and personal approach, we work with you to build a tailored financial plan, with the aim of giving you financial security in your retirement


Many savvy savers are torn between valuable final salary pensions and investing their hard-earned cash in the financial markets, which, if not guided by those in the know, can lead to losing money.

Naturally, there is no one-size-fits-all solution. What may be the right route for one client is unlikely to be the same for the next. At Opal Wealth Management, we fully assess your individual circumstances, your needs and your preferences. Being aware of your current situation helps us to help you work towards more profitable outcomes in a way that is right for you.    

A Pension is a Long term investment, the fund value may fluctuate and can go down.
Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax Legislation.

The Financial Conduct Authority does not regulate occupational pensions.

Flexible access to your pension funds

1) More financial control
With flexi-access drawdown, you can access your pension savings whenever you need to, while leaving the remainder of your pension funds invested.

2) 25% tax free
A flexi-access drawdown pension means you can take 25% of your pension tax free, regardless of whether you take it as a lump sum, or in smaller chunks.

3) Nominated beneficiary
You can choose to pass your pension to a nominated beneficiary after your death; such as a spouse, child, or a charity.

Your funds – there when you need them

Flexi-access drawdown is a good option for those who want access to their pension savings. It also provides you with the opportunity to invest the remainder of your pension pot, and potentially increase your funds for the future.

As wealth management advisors in Wolverhampton, we help clients across the Midlands to get more from their pension pot. We’re here to provide you with advice on the various pension schemes on offer, with a view to finding the right products to match your unique requirements.

What is a flexi-access drawdown?

This type of pension product appeals to those who want to maintain access to their pension funds.

As from April 2015, all drawdown pension products now offer flexi-access, which provides a lot more financial freedom.

With flexi-access drawdown, you can take out as much or as little money as you want. You’re then free to invest the rest of your funds in the manner you choose. At our initial consultation, we’ll explain how this works, then present you with a range of products, which will be selected based on your specific circumstances.

We’ll also discuss your attitude to risk, to ensure that your chosen pension scheme reflects this. If you’ve got any questions along the way, we’ll encourage you to ask them, as it’s our job to ensure you understand your investments, and get the most from them.

Tailor your retirement funds to your needs

Opal Wealth Management are based in Wolverhampton, and have clients across the Midlands. When you work with us, we’ll examine your finances, discuss your plans for retirement, then identify the most suitable pension products to meet your needs.

Flexi-access drawdown might be the right option if you need to release an income regularly, or if you want to continue investing the rest of your pension savings. Our team will work with you to develop a solid financial plan for your retirement, and are always on hand to offer advice or answer your questions.

We take pride in the fact that we’re appointed representatives of of Quilter Wealth Limited and Quilter Mortgage Planning Limited, and are also Financial Conduct Authority-regulated. If you’d like to find out more about how we can help you manage your wealth more effectively, get in touch with our team today.


Is there a limit to how much money I can take out?

There isn’t a limit – however, be aware that after drawing out your first 25%, further funds will be regarded as earnings and taxed accordingly. A large withdrawal of cash could put you into the higher tax band.

Is flexi-access drawdown better than investing in an annuity?

Annuities are ideal for those who want a regular income in retirement (either for the rest of their life or for a set period). However, flexi-access drawdown gives you the option to invest your remaining funds, which might boost your pension pot further in the future.

What can I use my drawdown for?

You have complete freedom to choose what you use your drawdown funds for. They can be used to provide an income, or to invest in an annuity.

In fact, you can choose to invest them in any other pension product if you want to. Get in touch with us to find out more about your options.

What’s the difference between flexi-access drawdown and flexible drawdown?

Flexi-access drawdown is essentially the successor to flexible drawdown. With flexi-access, however, you don’t need to have a minimum income from additional sources.

Find out about your options

Opal Wealth Management are flexi-access drawdown specialists. If you’d like to learn more about this type of pension product, and whether or not it’s a viable option for you, get in touch with our team. We’ll give you all the details you need to make an informed decision, and will answer any questions you might have along the way.

To get started, get in contact today.

Tax treatment varies according to individual circumstances and is subject to change.

Contact our pensions adviser for further information and advice on pension and retirement planning

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