![]() A living financial plan where you can clearly see what you can achieve depending on the decisions you make – read moreĬan afford that dream round-the-world trip? Can you help your children onto the property ladder? We’ll model your goals and build your financial plan to help you achieve them. We use sophisticated financial modelling technology to visually show you your financial future. Below are just a few reasons why it makes sense to let us help. We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as planning our finances. Old Mutual Redefining Retirement Survey Why Speak to Us… Good financial planning with clear goals can increase your retirement income by as much as 53%. Make the right decisions today to build a more prosperous future. Your Financial Plan: Build A Better FutureĪ good financial plan can help you make the right decisions when it comes to your finances. If you don’t have a CETV yet, then you can get an estimate of what your final salary pension could be worth if you transferred out using our Final Salary Pension Transfer Calculator. If you’re considering a final salary pension transfer to switch to a defined contribution pension that allows income drawdown, then you can enter your cash equivalent transfer value or CETV into our drawdown calculator to get an idea of what you could withdraw. ![]() Transferring a Final Salary Pension to Drawdown Remember: Whether an annuity or drawdown is right for you will depend on your circumstances, so it’s best to discuss your situation and circumstances with an adviser before committing to either option. While an annuity is irreversible, so you can’t buy an annuity then cash it in to enter pension drawdown, you’re perfectly entitled to opt for drawdown at first and then use any remaining funds at a later point to purchase an annuity if that’s what you prefer. You also don’t need to make an absolute choice between drawdown and an annuity. Income drawdown offers more control and flexibility than an annuity, as well as making it easier to leave a legacy to your loved ones after you’re gone. What’s more, there’s no inherent flexibility in this method of securing a retirement income when you compare buying an annuity with pension drawdown. Although this will offer you a guaranteed income for the rest of your life, annuity rates are currently very low due to a combination of economic factors, such as low interest rates and low yields on government bonds. However, the main alternative to income drawdown is buying an annuity. That’s because the pot is finite - every time you draw from it you reduce its total capital. The tax you pay depends on your individual circumstances and may change in the future.There is a risk that your pension might not last long enough if you choose income drawdown. The example shows the gross income before any tax is deducted. This will show how your plan is doing and when it's likely to run out. Once you set up your drawdown account, we'll send you a personalised illustration in your annual statement. The real rate of inflation could be lower or higher than this Inflation reduces the value of your savings. This gives an indication of what the future value of your pot would be worth today. ![]() An annual rate of inflation of 2% each year.The actual charge will depend on the objective you choose and may vary in the future. ![]()
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