#BEST FUNDS FOR PENSION DRAWDOWN HOW TO#

What you need to know each week: Listen to the This is Money podcast.So here's our starters' guide to investing your pension - a checklist of what you need to think about and plan ahead for at the outset of your retirement. Those who are novices to the world of stocks, bonds and funds might find the whole business something of a challenge, and struggle to manage their investments successfully enough to enjoy a comfortable old age.įrequent bouts of market turmoil since 2015, most recently due to inflation and the subsequent run of interest rate hikes, could put off some retirees altogether.įinancial market volatility can leave people who entered drawdown facing losses, and also in a quandary because taking an income from shrinking investments early on can do disproportionate and irrecoverable damage to a portfolio. Nevertheless, they can still prove the best option for some savers.īut most people now opt to invest their pot in a drawdown scheme for income and hopefully a bit of growth. However, those still saving into such schemes can transfer to DC schemes, provided they get financial advice if their pot is worth £30,000-plus.Ī stream of research has shown that while savers heartily welcome pension freedoms, they often feel baffled and overwhelmed when dealing with the new choices opened up to them.Īnnuities offer the certainty of a guaranteed income for life but are widely considered poor value for money, even after recent rate hikes which we explain below. They don't apply to those with more generous gold-plated final salary or 'defined benefit' pensions which provide a guaranteed income after retirement.

#BEST FUNDS FOR PENSION DRAWDOWN HOW TO#

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Best funds for pension drawdown