Mwavuli Income Drawdown
Mwavuli Income Drawdown is suitable for retirees since it allows a member to make regular withdrawals after making an initial transfer into the income drawdown fund.
Pensioners may opt to transfer their benefits to the drawdown fund and receive monthly payments as their balances remain invested in the fund. Income drawdown acts as an alternative to an annuity.
Benefits of joining Mwavuli Income Drawdown include:
- Tax benefits accrue to a member.
- The benefits are portable to another arrangement.
- Regular withdrawals can be monthly, quarterly or annually ( up to 15% of fund balance per annum).
- Friendly and knowledgeable members of staff.
- Education on the conversion of the income drawdown to an annuity at the end of the income drawdown period.
- Appropriate education on the income drawdown structure that would best meet their risk profile requirements.
- Flexible/various options of making withdrawals
Who can join Mwavuli Income Drawdown?
- Any individuals who would like to enjoy superior investment returns and some flexibility in their retirement plan.
- Any individual comfortable with retaining some element of investment and longevity risks.
- An individual from any benefits scheme who wishes to transfer benefits into a drawdown arrangement.
