Aviva launches drawdown aimed at death tax efficiency

The new plan, part of Aviva's revamped platform offering, allows investors to unitise their fund and crystalise each part when needed, rather than crystalising the entire fund. Under new tax rules death benefit lump sum tax is only paid on crystalised funds for people who die under the age of 75. Aviva's offering allows investors to alter the amount they draw down each month, and includes a facility to calculate the minimum proportion of the fund needed each month with a view to maximising death benefits. Anthony Rafferty, director of individual accumulation at Aviva said: "As the ...