Is 拢100,000 minimum fund for income-drawdown?

I agree with the previous answer but the reason that 拢100,000 tends to be seen as a starting fund is that most providers are quite expensive and so a smaller fund needs to work harder to make up the charges and the risk required is therefore often greater than the client is comfortable with.

Most of the charges under insurance company Drawdown arrangements form the commission that is paid and I find that this quite often makes the contract unattractive.

There is no official minimum for drawdown but some companies impose a 拢50k or 拢100k limit and, for most people, drawdown is not really a viable option if your pension fund is smaller than 拢100k - but it can be done. Go and see an INDEPENDENT financial adviser (IFA) and also look at the consumer section of the Financial Services Authority website at www.fsa.gov.uk

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