Drawdown flexible access to your pension
Take a variable income from your pension, whilst keeping it invested
Take a variable income from your pension, whilst keeping it invested.
If you're aged 55 or over and don't need secure income, drawdown can provide a flexible alternative with the potential to increase your fund value and income through investment growth. It allows you to take up to 25% of your pension as a tax-free lump sum up front and then a variable income from the rest, which stays invested. You choose where to invest and what income to take.
Drawdown offers more flexibility than a lifetime annuity, which provides a guaranteed income for life, but drawdown also carries considerable risks. You could run out of money if you take too much out, you live longer than expected or your investments perform poorly. 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 could affect your future income and how investment performance can change your fund value over time, all with no obligation to proceed.
*Hargreaves Lansdown is the largest non-advised drawdown provider by number of clients (source: Money Management survey September 2016, 38 providers surveyed).
Drawdown is an option that requires you to make an active investment choice and review investments regularly. Portfolio+ is not specifically designed for drawdown. Nonetheless our Portfolio+ range is available for drawdown investors who believe it meets their individual requirements.