Choosing the right ingredients and blending them at the right time to bake a retirement income cooked to perfection is a tricky dish to get right
15 April 2015
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As people approach
retirement, selecting the most appropriate mix
of income options to their displosal is a
daunting prospect. Understanding one's
options is an education in its own right. |
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With questions over what to do with one of
the most important decisions someone has to
make, is one of the biggest challenges you can
be faced with. |
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+ What is my ideal
retirement age?
+ Should I withdraw money from my fund
in one go or take small amounts each year?
+ How much of my pension fund is it advisable to
withdraw straight away?
+ If I don’t purchase
an annuity what are the other options to
generate an income?
+ How much of my pension
fund should I take as a tax-free lump sum?
+ How much of my pension fund will I have left
after tax?
+ How much tax will I pay on my
pension fund?
Choosing what is right
and works best is one challenge. Blending them
together so that they support each other to
create the best desired outcome is work of art!
Dunstan Thomas have created
Imago Self Direct
to help consumers and advisers alike to
understand choices available in saving and
planning for retirement.
Tools,
such as
Imago Self Direct, play a significant part in helping to
educate and build up a consumer’s understanding
of some of the choices and consequences of the
flexibility with pensions and other income to
ensure better outcomes in retirement.
Imago Self Direct
users will be able to input total
retirement income targets
and explore decumulation options including
taking of Tax Free Cash, cash lump sums,
Drawdown or buying an annuity. They can set
planned dates for starting drawdown or
purchasing an annuity. They can also explore
hybrid decumulation options in which several
choices are explored alongside each other.
Imago Self Direct
is deployed using the tried and tested
Imago Self Direct
calculation engine that is widely used
throughout the market providing illustrations
across many product providers and platforms.
Products that
Imago Self Direct
illustrates are configured with the
Imago Self DirectAdministration
Tool to provide charging and fee structures that
meet the unique and personalised needs of
product providers, platforms and advisers for
the pensions and savings market.
Click here to request a call back or telephone 02392 822 254