The Board of Trustees of the Defined Contributions (DC) Scheme established an in-house Income Drawdown Fund in January 2020. The Fund became operational in the same month following approval from the Retirement Benefits Authority (RBA). Income drawdown is an arrangement that allows a member at retirement to draw their retirement benefits into regular instalments while their balance remains invested. Essentially, instead of buying an annuity at retirement, a member may opt to take their accumulated benefits and invest in an ‘income withdrawal plan’ within the Scheme.