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Drawdown move from NDF Admin

NDF Administration is moving into the income-drawdown market with a six-year retirement income and growth plan for the post-retirement market.

The retirement income & growth plan allows investors to draw an income from their pension fund at a fixed rate for six years. After purchasing income of either 3 per cent, 5 per cent or 7 per cent, the balance of the fund can be invested for growth with no capital risk.

NDF is marketing the plan to clients wanting to delay their annuity purchase but who want income and the potential to benefit from higher equity returns.

Growth investors get 70 per cent in the growth of the FTSE 100 over six years with no upper limit. On death, early encashment values of both the income and growth elements will be paid out.

The plan closes for business on March 25. Minimum investment is £100,000. Commission is paid on the growth element at 3 per cent of the amount invested and 1.5 per cent on maturity. IFAs can also opt for 2.75 per cent up front, with 0.25 per cent trail commission a year.

Group managing director Antony Stack says: “The plan provides IFAs with unique features in this market. We are looking forward to an encouraging response from IFAs working in this specialist field.”

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