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Income Drawdown

Income Drawdown is an alternative to buying an annuity, where you leave your pension invested and draw an income from it.

Since April 2015 you don't have to use your pension pot to buy an annuity; there are alternative means of taking your retirement income. On reaching 55 you may now withdraw as much of the money as you wish to from the sum which you have saved into your pension.

You can use your pension pot to provide you with a regular retirement income by reinvesting it in funds specifically designed and managed for this purpose, though the income you get will depend on the fund's performance. It isn't guaranteed income for life.




How Income Drawdown Works

You can choose to take up to 25% (a quarter) of your pension pot as a tax-free lump sum. You then move the rest into one or more funds that allow you to take an income (which is subject to tax) at times to suit you. Most people use it to take a regular income. The income you receive may be adjusted periodically depending on the performance of your investments.




Risks of Income Drawdown

It's important to carefully plan your annual drawdowns to ensure you don't spend it too soon. If you don't manage your income you could very easily run out of money from your pension pot. If your pension pot is the basis for your main income in retirement, think carefully about taking too much too soon. Unlike with an annuity, drawdown doesn't guarantee you an income for life.




The value of investments and the income from them may go down. You may not get back the original amount invested.



Kennet Financial Services

Our aim is to offer clients Financial Peace of Mind and Real Value for Money

About us

Independednt Financial Advisers (IFAs) based in Devizes, Wiltshire

Our philosophy is simply to guide our clients through the various stages in their lives where expert financial guidance is required from an experienced and trustworthy adviser.

Our aim is to help our clients achieve their financial objectives in a tax efficient and easily maintained manner with clear, uncomplicated solutions.

The reward is being able to work at achieving a long and happy association with clients where trust and transparency are paramount in the relationship.

Advisers David Kinch and Ben Trow have many years experience working with Individuals and Businesses and have built a reputation based on trust and the ability to explain what can be complicated subjects in easy to understand ways both face to face and in writing.

We use our experience to cut through the jargon unfortunately plaguing our Industry to provide options and solutions tailored to your needs.


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We serve people best who:

  • have little time and/or expertise to manage their financial affairs
  • are seeking expert financial advice and/or investment review
  • want help to formulate and maintain a clear financial plan and strategy to make the most of their hard earned money
  • need a “sounding board”
  • want the discipline of a regular review of their finances
  • are seeking a sense of control, peace of mind and financial freedom
  • regard service and a trusted relationship as key to working with advisers of any sort

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Our Specialist Areas

The Financial Services Authority does not regulate Taxation & Trust advice or Will writing.

Kennet Financial Services provides services like financial planning and financial advice, tax, personal pension advice as well as business advice. We also provide many other types of advice and private investing in Devizes, Wiltshire.

We offer a comprehensive financial planning service to include tax planning opportunities. We also provide a bespoke investment management service with an emphasis on strategic asset allocation.



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