Don and Gillian are a married couple, both aged 57, with a fund size of £100,000 in Don’s name. After advice, their best option is to buy an Invested Annuity with 50% Spouse Beneﬁt. How does their income diﬀer with and without taking the maximum tax-free cash sum of £25,000? *
|Fund Size||Tax Free Cash||Annual Income|
* Based on £100k and taking the 25% Tax Free Cash of £25,000. With a 50% spouses beneﬁt for a 57 year old spouse.