There are two main flexible pension withdrawal options, but which is right for you? In this video I answer what is pension drawdown, how does it work, and how is UFPLS different?
⏰ TIMESTAMPS ⏰
0:00 Start
1:45 What Is Pension Drawdown?
4:32 How Does Pension Drawdown Work?
6:03 What Is UFPLS And How Is It Different To Drawdown?
6:58 How Non-Pension Plans Can Save You Tax
🎬 WATCH - HOW TO MAXIMISE YOUR TAX FREE LUMP SUM 🎬
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🎬 WATCH - UK PESNION DRAWDOWN PLAYLIST 🎬
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**** ABOUT PENSION DRAWDOWN ****
Many people have heard of it, but what is pension drawdown? This video details the two different types of UK drawdown plans; flexi-access drawdown and capped drawdown and answers the question of how does pension drawdown work.
When you opt for pension drawdown as your withdrawal vehicle, your money remains invested, but taking the money out begs another question; what tax do I pay on pension drawdown? I explain this in this video before discussing alternatives to pension drawdown, the main one being UFPLS...
UFPLS stands for Uncrystallised Funds Pension Lump Sum, which is the vehicle that allows you to take all of your money out of your pension pot.
UFPLS can provide a more tax efficient way to take income from your pension pot by allowing you to take tax free lump sum alongside taxable withdrawals on a monthly basis.
I also explain how using non-pension assets for income in retirement first can help reduce income tax and inheritance tax.
**** DISCLAIMER ****
The content in this video is provided for information and entertainment purposes. It should not be construed as direct or indirect financial advice. You must throughly research any potential financial or investment decision and fully understand the risks before taking it. If in doubt, you should seek individual advice from a professional adviser.
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What Is Pension Drawdown And How Does It Differ To UFPLS?
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