The Big Question

Keith Boughton is director – insurance and payroll at Xafinity Paymaster The removal of the requirement to annuitise at age 75, and the ability to enter into flexible or capped drawdown will encourage greater use of drawdown vehicles such as SIPPs. There will also be an increase in individuals using part of their retirement fund to secure pension income up to the £20,000 per annum limit while leaving any balance of funds invested. The attraction of deferring retirement has also been increased by the improved post age 75 options relating to the ability to take cash from the fund, as well...