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however many of my funds, particularly Global Equity funds, have done much better than expected (partially due to Brexit & the £) and as a result my pot now stands at £814K. As a result I increased my annual drawdown amount to £30K (£2,500/month) which again should be covered by the natural yield as stated by other posters and also keep me within basic rate tax limits.
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Just remember that good years need to be averaged out with the bad and the nothing. So, be prepared to lower the draw again and not to continuously eat up gains as those gains will be needed in the bad years. Regardless of the reason, there are usually events that create a bumper year or two in every economic cycle. So, your returns were not better than expected. They are part of an expectation of any given year in a period. You just dont know when it will happen.
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You need to be careful about following a strategy of only "drawing what you need to live on" as suggested by some posters as if the pension pot continues to grow you might find yourself with a tax liability when the pension pot is revalued at age 75.
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Note the comments did say "objectives and tax efficiency".
I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.