Drawdown

Take it a bit at a time with Drawdown

0800 032 8324

Lines open 8:30am to 6pm Monday to Friday

Try our pension drawdown calculator

So what is income drawdown?

Let's explain...

Income drawdown gives you the flexibility to withdraw money from your pension whilst keeping the rest invested. Its aim is to help your pension continue to grow throughout your retirement.
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.

Important Information about drawdown

You can leave your pension savings invested, while taking what you need when you need it

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.

Your income isn't guaranteed.
You could take too much out of your pension too early and run out of savings too soon. It's important to think about life expectancy so you can control the amount of money you withdraw to try and ensure that your money lasts as long as you need it to.
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.

IMPORTANT INFORMATION

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.

Calculators

Use our tools to dig deeper into how you can use your pension savings

Annuity Calculator

Using today's rates our calculator can give you a snapshot of the income your savings could buy you in retirement. You can also choose to add your health details to personalise your quote even more!

Calculate your income today

Fixed Term Annuity Calculator

Our fixed term annuity calculator gives up to date results based on current rates. We shop around the whole of the market to get you the best quote for your specified income and/or guaranteed maturity value.

Calculate your annuity today