AXA Wealth has launched a drip feed element to its income drawdown products which it says gives advisers and clients more flexibility.
The use of income drawdown in retirement is expected increase in the following pensions freedom and choice which gave retirees over 50 complete access to their defined contribution pension schemes. It said the option allows people to take income from a pension at the desired level as regularly as needed in the most tax-efficient way. Drip feeding means advisers can manage their clients' level of taxable income. Advisers can use it as a mix of part tax-free/part taxable income or fully tax-free income, Axa Wealth said. Automated income payments can we set up from the pension. The o...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes