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Income Drawdown

Have the flexibility to withdraw money as and when you need it

Lines open: 8.30am to 6pm Monday to Friday
Have a commitment free chat with a friendly adviser today0800 085 5283

So what is income drawdown?

Let's explain...

  • Income Drawdown gives you the flexibility to withdraw your money whilst keeping the rest invested to help your pension continue to grow.
  • It suits people who are prepared to take some investment risk in return for a potentially higher income, or people who want the flexibility to vary their income or dip into their savings from time to time.

drawdown important information

Here's what you need to know


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  • The income you take can vary; you can choose to receive this regularly, make occasional withdrawals or take nothing at all. It’s entirely up to you.
  • Any funds invested when you die can be passed on to your partner or spouse (or any other beneficiary).
  • Normally no income tax applies for beneficiaries if you die before the age of 75.


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  • Your income isn't guaranteed.
  • You could run out of money.
  • Remember, there's the potential for your investment to go down as well as up, so your money could be worth less in the future.
  • Income and investment options need to be reviewed on a regular basis to make sure they still meet your needs.


There are some things to consider about income drawdown

  • There are a number of options to consider with a drawdown arrangement from your pension. 
  • Income - You can take a regular income or make occasional withdrawals or you can take nothing at all. It's entirely up to you.
  • Annuities - You can use some or all of your money to buy an annuity at a later stage. It can make sense to consider buying an annuity as you get older.

Advice or guidance

What's the difference between advice and guidance

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Advice is given by professional advisers such as IFAs, financial planners, wealth managers and pension specialists. Advice is regulated by the FCA, protecting you from negligent advice and will give you tailored recommendations for your individual circumstances and ensure that the best option or combination of options for your circumstances is found, even if this goes against what you originally thought to be the best decision for you. Taking advice usually costs money.

Speak to one of our friendly advisers today and see how we can help you find the best income for your pension. We can:

  • Give advice on all types of pensions.
  • Maximise your pension income.
  • Help you make the best possible use of your hard-earned savings.

Guidance gives a general overview of the options available on the market for free by highly trained specialists. Guidance services won't tell you what to do with your money and you will need to research the market to find the right products and providers to suit your needs and preferences. There's no protection available, but taking guidance is a good place to start to help you understand the various choices available.

For guidance on your defined contribution pension, we recommend visiting Pension Wise, a free government service from MoneyHelper, offers impartial guidance on your pension options.

To book an appointment call 0800 138 3944, 9am to 5pm Monday to Friday, visit their website, or email at [email protected]

Pension Wise won't recommend any products or tell you what to do with your money.

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Need help?

Have a commitment free chat with one of our friendly advisers today. Start your conversation by giving us a little more detail.

Mon to Fri 9am-6pm

For TextDirect: First dial 18001

Calls will be recorded and/or monitored for training and audit purposes