Just a reminder .......Generating a retirement income has now become even more flexible. From 6 April last year, new rules were introduced to replace the previous pension drawdown arrangement which have now provided investors with greater flexibility and control over their pension options when they retire.

Qualifying for this option
Flexible drawdown is more flexible than the previous income drawdown, and if you qualify for this option it removes the cap on the income you could take. This will not be available to everyone and there are certain criteria that must be met before you can opt for it.
Flexible drawdown gives some individuals the opportunity to withdraw as little or as much income from their pension fund, as and when they need it. To qualify, you have to declare that you are already receiving a secure pension income of at least £20,000 a year and have finished saving into pensions. The same rules apply to dependants who elect flexible drawdown.
More information available from Mark @ Moneyology.co.uk
Flexibility and control over your pension
These new rules, with the exception of the increased tax on death payouts, could benefit those who do not want to buy an annuity by age 75 or who want more flexibility and control over their pension.
However, the majority of people may still want to purchase an annuity in retirement, because it enables them to secure a guaranteed income in retirement.
The fund value of a flexible drawdown arrangement may fluctuate and can go down as well as up. You may not get back your original investment. Past performance is not an indication of future performance. Tax benefits may vary as a result of statutory change and their value will depend on individual circumstances. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts.