Axa launches flex drawdown via family SIPP

Some providers have held back on the implementation of the new version of drawdown until the Finance Bill is given Royal Assent. Flexible drawdown allows investors to withdraw unlimited amounts from their pensions provided they have a secure annual income of £20,000. Axa said it typically allows flexible drawdown through the FST for clients who have a minimum fund size of £50,000. Mike Morrison, head of pensions development at AXA Wealth, said: "Flexible drawdown opens the door to real flexible income and tax planning particularly when used in conjunction with other tax efficient...