Looking For Ideas.....

[ToraToraTora]

For our pension pot up to now we have no alternative to buying an annuity (ok some draw down/limp some) is allowed. Now I hate the whole annuity idea but I must grudgingly accept it's merits. As far as anything can be guaranteed it is a safe option all be it with current interest rates (...and thus gilt rates) it provides a derisory income rate, needing a huge pot to get anything like a sensible income. Anyway I digress, with the new rules comming in I suppose myself and others are looking for creative ways to maximise income in retirement. I imagine financial firms will produce various "products" for the market but does anyone have any ideas for creating an income beyond the annuity or is it really still the best bet?

[ToraToraTora]

ok thanks all some interesting stuff.

[dancecaller]

Be careful how much you take out of your pension pot.
The government are letting you take it all out but only a certain amount is taxfree.
So if you take it out and it pushes you into high rate tax for that year there won't be so much left to invest.
If the fund it is in is doing OK for you, and the charges are reasonable just take out what you need. Or a bit more if tax-free and you know a better investment.

[buildersmate]

No new advice here, but good to note you agree with the advice already given by others.