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SIPP Drawdown


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Hi.  I'm thinking about putting a SIPP into drawdown but understand I can opt for one of two types of drawdown.

What are the pros and cons of each and which one?

I want to crystallise my drawdown option now as I'm concerned the next government will, in addition to the age changes already announced, restrict things further.

In particular restricting the amount you can take out given the noise about people taking out too much.

I doubt I'll have much spare earnings anymore and anyway would rather use an ISA first.  Plus I can still put a little into my SIPP if I have the earnings, more than what I can with no earnings. 

I'm equating earnings with salary so maybe should check the other allowable sources in case I may get these in the future.

I'm not really interested in taking money out now, just locking in the option now.  I doubt I'd want to take out a large one-off sum to buy something, but you never know what might happen in life making this necessary.

Any thoughts?  Not advice obviously.  And I will be talking to my SIPP provider.  I just wanted to get some information and views.


PS:  Whoops!  Apologies if this should be merged with the existing, but very broad, thread.  Please merge as necessary!

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