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Taking benefits

Suffolk Life offers a full suite of income withdrawal options on all our products, enabling you to choose the most suitable pension drawdown option for your client.

Many clients wish to defer or even avoid purchasing an annuity so choosing a SIPP with flexible options is important. Choosing a provider with a strong track record in administering drawdown is key, given the significance of this stage in your clients’ financial planning.

We aim to offer the flexibility to draw income in a way that suits your clients. Here are several examples of the flexibility we offer:

  • flexi-access drawdown (FAD) for full flexibility when choosing how to take income
  • capped drawdown for those investors who wish to retain the benefit of the higher annual allowance
  • conversion from capped drawdown to FAD for those investors who wish to start drawing more than their current limit
  • various income frequencies to suit the needs of your client
  • the option to change frequency of income payments
  • ad hoc payments on demand
  • the ability to start and stop income to suit investor needs
  • beneficiary drawdown plans offering the choice to continue investing with Suffolk Life down the generations

Your chosen investment partner may augment this by offering auto-sell-down options to ensure that your client’s income payments are maintained without manual intervention.

Suffolk Life will alert advisers if your client triggers the lower money purchase annual allowance within their SIPP, to further support the planning and advice provided to investors. 

For more information on the process see our Working together section. In addition, further information is available in the relevant literature library

Disclaimer

This information is intended for investment professionals and should not be relied upon by private customers or any other persons.