New Drawdown - low-cost, flexible, accessible
New rules from 6 April gave investors greater freedom and control over how they access their pension from age 55. They can now withdraw as much or as little as they like, when they like.
For most people looking for a regular income this means choosing between an annuity or drawdown, or a combination of the two.
Annuities offer a secure income for life. Drawdown, by contrast, allows you to draw a variable income directly from your pension which stays invested. You choose where to invest and what income to take.
Drawdown offers more flexibility but also carries considerable risks. You could run out of money if you take too much out, you get the investment choices wrong, markets perform badly, or you live longer than expected, and if you invest without advice, the responsibility for these decisions rests with you. Find out more about drawdown and how it works »
To find out how much income you could take in drawdown, request your free personal drawdown illustration which will show you how withdrawals will affect your income and how investment performance can change your fund value over time, all with no obligation to proceed.
Why our New Drawdown plan?
*Hargreaves Lansdown is the largest non-advised drawdown provider by number of clients (47 drawdown providers surveyed). Money Management survey September 2014.