Leeds, Otley -- (SBWIRE) -- 11/06/2015 -- Myretirementoptions.com, an independent financial advice website has recently offered a forecast of income drawdown and provisions in the year 2015 on their website. As per the website, "The pension reforms that came into effect in April 2015 have made income drawdown a more accessible option than ever before. Restrictions have been lifted on the amount of cash you can withdraw, the ways in which you access it and conditions of eligibility."
It also mentions that, "The need for capped drawdown, flexible drawdown is set to become a more commonplace income option." It was told that the site had conducted a vigorous market survey in order to reveal the predictions and come up with these new findings.
Besides, the website also disclosed some benefits of income drawdown. This includes the ability to access pension fund as and when required. Moreover, income drawdown allows leaving one's savings invested for an opportunity of growth in the future. Income drawdown, according to the site enables individuals to pass their pension pot to their family members after their death.
A representative of the website stated, "Taking the income drawdown route involves some serious considerations as unlike an annuity it does not guarantee lifetime income." Hence, he continued to emphasize on seeking the help of professional financial advisors to explore every options of income drawdown. He added, "It is essential that all retirees seek professional, personally tailored advice before making a decision."
As per the representative, myretirementoptions.com has pledged to provide free guidance to all retirees hoping to convert their private pension into an income as directed by the UK government. "This guidance", he repeats, "will be very general and cannot take into account your personal circumstances. You will have the options explained to you, but no specific recommendations will be made, no long term support will be offered and you will have no recourse if you make a decision that you later come to regret."
For more details go to https://www.myretirementoptions.com/drawdown/
Myretirementoptions.com is a free service website offering access to professional, independent financial advices for retirees throughout the UK. The website has partnered with several financial advisors recommended by the Financial Conduct Authority (FCA) to deliver the best personally tailored retirement advice.