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Question on flexible drawdown mechanism

GazzaBloom · 2021-01-10 08:08:03

Our current retirement plans are as follows and I have a question on the mechanics of how flexible drawdown works to see if it does what I want. We plan to retire in around 4-5 years, we will be mid-late 50s and hope to be in this position: * Debt and mortgage free * 6 months emergency fund held as cash - £12K * 2 years…

Comments

dunstonh Posts: 120,283 Forumite

10 January 2021 at 4:02PM

Which standard life product are you on?
Standard Life have four platforms and some products aimed at the DIY market that are cut down from the whole of market version. They also have legacy plans which offer some functionality but not full range.

On the first point , I do not think SL offer UFPLS payments ( 25% tax free/75% taxable ) .
They do on their main platforms. legacy plans vary.

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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