IDD OVERVIEW
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.
The Fund's Investment Objectives
Comply with the retirement benefits regulations regarding investments, in particular the restrictions on the investments set out in table G of the Retirement Benefits Act and reproduced in the appendix C of this document.
Maintain a relatively diversified portfolio that will generate income and preserve capital to meet the drawdown members’ reasonable expectations
Control the long-term investment performance of the drawdown fund by maximizing the return on the assets while having regard to the risks inherent in the investment.
Maintain appropriate liquidity to ensure benefits and other liabilities are paid as and when they fall due.
The Fund's Investment Objectives
Comply with the retirement benefits regulations regarding investments, in particular the restrictions on the investments set out in table G of the Retirement Benefits Act and reproduced in the appendix C of this document.
Maintain a relatively diversified portfolio that will generate income and preserve capital to meet the drawdown members’ reasonable expectations
Control the long-term investment performance of the drawdown fund by maximizing the return on the assets while having regard to the risks inherent in the investment.
Maintain appropriate liquidity to ensure benefits and other liabilities are paid as and when they fall due.