Golden age: Making the most of drawdown

The introduction of pensions freedom has heralded the golden age of drawdown and the industry has seen £90m more going into new drawdown plans than into new annuities since the reforms were introduced. A typical retiree will have income from multiple sources which can including gross interest from bank and building society accounts, dividend income from shares, property or offshore funds, and let's not forget the range of state benefits too. So targeting drawdown for income without taking account of other savings can lead to unnecessary income tax charges. Further reading: Income d...