New Drawdown - low-cost, flexible, accessible
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.
Benefits and risks of drawdown
Why choose drawdown with us?
There is no drawdown set up fee, no transfer in fee and no charges for one-off or regular withdrawals, or for changing your income instructions. In fact, the only addition to our normal pension charges is an early closure fee for people who open and then close their account within a year. View our low charges, including annual management and dealing charges »
One of the UK's most trusted drawdown providers
More investors choose Hargreaves Lansdown to manage their drawdown plan themselves (without advice) than any other provider, making us one of the UK's most trusted drawdown providers.*
Awarded the Gold Standard for Retirement in 2014 and voted Best SIPP Provider by readers of What Investment for the past eight years running. In 2014 alone we won eight industry awards for our pension service.
Support if and when you need it
Our drawdown specialists are on hand to answer any questions. No automated service, just friendly, professional support. We also offer a national team of 94 Independent Financial Advisers if you ever need advice.
*Hargreaves Lansdown is the largest non-advised drawdown provider by number of clients (47 drawdown providers surveyed). Money Management survey September 2014.