NEW Drawdown for pension freedom
Make flexible withdrawals from your pension, whilst keeping it invested
If you're retiring soon and don't need secure income, drawdown can provide flexibility. It allows you to take tax-free cash and then draw variable income directly from your pension, 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 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 will affect your 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 (41 drawdown providers surveyed). Money Management survey September 2015.