M18CTID
Well-Known Member
Yeah but you only draw what you need and if you are retiring next year then you’d have moved 50% minimum into bond funds anyway.
You’d then draw off them (and they are all up as they always are during periods of volatility) and leave the remainder invested.
No one (should) buy(s) an annuity any more anyway as I state above.
So to recap, if you were about to retire then you shouldn’t and wouldn’t be remotely affected now any more than someone retiring in ten or fifteen years.
Yeah, annuities are shit mate and as you say since pensions freedom came in I can't see how they can be a preferred choice for anyone really. I was thinking more of the 25% tax-free lump sum for anyone who has a private pension and was planning on drawing it down now and had budgeted for a specific time to get that 25% - if the markets today were where they were a couple of weeks ago their 25% on a pot of £500,000 would probably be worth £6000-£7000 more than where the markets are now.