Despite this reduction in value, placing renewables where they work best has a profound effect on the amount of subsidy required; taken to be the gap between the revenue from energy sales from wind and solar (normalised per kW) and their annuitised
Even after retirement at 60, one can withdraw only up to 60 per cent the corpus; the rest has be annuitised
While the lock- in ensures the subscriber does not use the funds during his working life, annuity makes sure the money is paid in instalments over a long period.
Even after retirement at 60, one can withdraw only up to 60 per cent of the corpus; the rest has to be annuitised
The policy's impact on annuity rates means that someone with a pounds 26,000 pension pot retiring today would receive 22% less income than if they had annuitised
four years ago, making them pounds 440 a year worse off.