About Beverley
Beverley is retiring at 60 and has a pension pot of £133,333.
What are Alan’s objectives?
Beverley wants to withdraw £33,333 tax-free cash now. She’s happy to keep her retirement options open until her state pension starts. But she also thinks she’ll need £5,000 income and the certainty of a Guaranteed Maturity Value (GMV) at the end of the term.
What does Alan get?
Beverley's financial adviser recommends a Fixed Term Income Plan, giving her a fixed income of £5,000 per year for the next five years. At the end of the term, she’ll get a Guaranteed Maturity Value of £80,000. At this point she has the flexibility to reassess her options.
Flexibility in the future, certainty now.
What are the risks?
Just so you’re aware, your income isn’t guaranteed for life – it’s only for the term you select. We cannot predict how much income your Guaranteed Maturity value will provide at the end of the term. Your income will stop if you die before the end of your selected term, but we’ll pay a death benefit.
Any references to taxation are based on our current understanding of HMRC rules and regulations which are subject to change. We recommend speaking to a professional adviser who can assist you to weigh up the options available to you. Together, you can take a good look at your immediate goals and long-term expectations in retirement.
