I understand that if I have an ARF with a retirement age of 60 that I , as the owner must draw down 4% at the age of 60, otherwise 4% of the value of the ARF will be taxed in any case , so better to draw it even if a person would prefer it to continue to grow and could manage without it for a year or two.
If a person was hypothetically , born on say , 12/6/1962 , would that mean it would make sense to draw this 4% on 12/6/22 , on his her 60th birthday or can this be left until 31/12/22 ?
Thanks in advance for any replies
If a person was hypothetically , born on say , 12/6/1962 , would that mean it would make sense to draw this 4% on 12/6/22 , on his her 60th birthday or can this be left until 31/12/22 ?
Thanks in advance for any replies