Pension Scheme Does Not Offer Flexible Drawdown

Published / Last Updated on 23/08/2019

What if your pension scheme does not offer flexible pension drawdown i.e. it only offers lump sum and annuity?

What if the scheme does not want to change its scheme rules to allow flexible drawdown?

They can go for a “permissive statutory override”  by designating your funds into a drawdown in beneficiaries name and can then transfer to a flexible drawdown scheme of your or you adviser’s choice.

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