Income Drawdown definition

Income Drawdown means providing an income from your SIPP other than by purchase of an annuity. The annual income payable is subject to a maximum limit unless the member qualifies for Flexible Drawdown.
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Income Drawdown means providing the ability to take a regular
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Income Drawdown means the facility to continue to keep retirement savings invested and take an income at a specified period rather than buy an annuity;
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Examples of Income Drawdown in a sentence

  • The study was done specifically at week end (Friday, Saturday and Sunday) since weekends are leisure time for most of civil servants.

  • Therefore there are two Default Arrangements as follows:1) A series of Target Date Funds which are considered to be appropriate for members who are expected to use Flexible Access Income Drawdown following their retirement.

  • Members have a choice of: - Taking 100% cash at retirement;- Taking Uncrystallised Funds Pension Lump Sums (“UFPLS”) for several years into retirement;- Using Flexible Access Income Drawdown (“FAD”) during their retirement; or- Buying an annuity at retirement or several years into their retirement.Currently cash and annuity purchase, together with one UFPLS payment (which can be accessed from age 55 or in the early years of retirement), are provided within the Plan.

  • The principal objectives of the Lifestyle Option are:• To manage the principal investment risks faced by an average member during their membership of the Plan;• To target the majority of members who are expected to either take cash at retirement or use Flexible Access Income Drawdown (“FAD”) during their retirement.Full details of the Lifestyle Option are provided in appendix 3.

  • Where your Income Drawdown was effected on or after 6 April 2006, please confirm the percentage of Standard Lifetime Allowance (SLA%) used.

  • The contributions of those members who do not make their own choice will be invested in the Scheme default investment option, which targets an asset strategy suitable for members taking income drawdown at retirement (Lifestyle Targeting Income Drawdown).

  • Members have a choice at retirement of one or more of the following: • Taking cash at retirement;• Taking Uncrystallised Funds Pension Lump Sums (“UFPLS”) for several years into retirement;• Using Flexible Access Income Drawdown (“FAD”) during their retirement; or• Buying an annuity at retirement or several years into their retirement.

  • When they reach 7 years from retirement age, the assets are then switched into funds suitable for how they would wish to access their pension savings (Income Drawdown (default), Secure Income or Cash).

  • If an individual has eligible care needs then it may be appropriate for them to draw down their pension fund rapidly to meet the costs of care.Therefore, Income Drawdown could clearly be very helpful in facilitating the funding of LTC costs as and when they arise.

  • Taxation Related to Income Drawdown FundsSince Income Drawdowns were introduced as an option for accessing retirement benefits there have been no formal rules relating to tax treatment.


More Definitions of Income Drawdown

Income Drawdown means the payment of income (including flexible drawdown) from an arrangement by a member, or a person entitled through a member.
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Income Drawdown means an arrangement that allows members of a scheme to access their accumulated retirement benefits as a regular income through reinvesting their benefits from an income drawdown fund registered by the Authority;
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Income Drawdown means the facility to continue to keep retirement savings invested in the scheme and take an income during a specified period rather than buy an annuity;
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Income Drawdown means providing the ability to take a regular income from your PMS SIPP other than by the purchase of an annuity, where this was set up prior to 6 April 2015 and is subject to a maximum withdrawal limit;
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Income Drawdown means an arrangement that allows a member
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Income Drawdown means receiving withdrawals (an income) from your SIPP.
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Related to Income Drawdown

  • Drawdown means a drawdown of a Facility.

  • Notice of Drawdown means a notice substantially in the form set out in Schedule 4 (Notice of Drawdown).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Second Draw Period is the period commencing on December 1, 2015 and ending on the earlier of (i) January 31, 2016 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on December 1, 2015, an Event of Default has occurred and is continuing.

  • Drawdown Period means the period commencing on the Execution Date and ending on the earlier of (i) 30 April 2012 and (ii) any date on which the Commitment is finally cancelled or fully drawn under the terms of this Agreement;

  • Loan Repayment Date means the date a Loan is scheduled to be repaid, as confirmed pursuant to Clause 5.3(c) of this Agreement, which shall in no event be later than the earlier of (i) the date falling six (6) Months from the relevant Utilisation Date and (ii) the Facility Repayment Date.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Equipment Advance is defined in Section 2.1.1.

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Drawdown Date means, in relation to an Advance, the date requested by the Borrower for the Advance to be made, or (as the context requires) the date on which the Advance is actually made;

  • Facility B means the term loan facility made available under this Agreement as described in paragraph (b) of Clause 2.1 (The Facilities).

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that such loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Facility Maturity Date means the earliest of (a) the Business Day designated by the Borrower to the Lender pursuant to Section 2.16(b) to terminate this Agreement, (b) the Stated Maturity or (c) the date on which the Facility Maturity Date is declared (or is deemed to have occurred automatically) pursuant to Section 7.01.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Payment/Advance Form is that certain form attached hereto as Exhibit B.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Credit Event Amount With respect to each Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.