Flexible Retirement

Annuity Plans usually offer a fixed level of income guaranteed for life (i.e. it will not increase with inflation unless you purchase an Index Linked Annuity). If you choose an Index Linked Annuity it will be many years before the income levels will reach the amount you would receive from a level annuity.

By choosing and Income Drawdown Plan with guarantees you get a guaranteed minimum income for the rest of your life, but still have the opportunity for rising income depending on how the underlying investment assets perform. Unlike a standard income drawdown plan, if the value of the underlying assets fall your income is still guaranteed at the highest previous level.