Hargreaves Lansdown
Income Drawdown

Income drawdown

Give your pension the potential to grow while still
drawing an income

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Important information - Please note income drawdown is a more complex option, if you are at all uncertain about its suitability for your circumstances we strongly suggest you seek advice. Your income is not secure. You control and must review where your pension is invested, and how much income you draw. Poor investment performance and excessive income withdrawals can deplete the fund leaving you short of income. From April 2015, new rules and restrictions on future pension contributions apply to investors in income drawdown: you should check how this affects you before making any decisions.

Why consider income drawdown?

A flexible alternative if you don't need a secure income

Income drawdown is the main alternative to a secure annuity income. It allows you to draw a variable income directly from your pension pot, within limits set by the government - you choose where to invest and your income will rise and fall depending on your investment performance. Find out more about how income drawdown works »

To find out how your fund value could grow in income drawdown, request your free personal income drawdown illustration today. The illustration will show the possible effect of your chosen income withdrawals, assumed investment growth and charges on your pension fund value over time, all with no obligation to proceed.

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Request your free guide to New Drawdown

Compare the different drawdown options


What you do with your pension is an important decision. Therefore, we strongly recommend that you fully understand your options. We offer a range of information to help you and independent financial advice if you are still unsure. Alternatively, Pension Wise, the Government’s new pension guidance service, is due to launch shortly providing a free impartial service to help you understand your options at retirement. You will be able to access the service online, over the telephone and face to face. Further details are now available at www.gov.uk/pensionwise.


Why income drawdown in the Vantage SIPP?

  • The UK's most trusted income drawdown plan
    The Vantage SIPP is designed for investors who are happy making their own investment decisions. More investors already choose our income drawdown plan to manage their pension themselves, than any other UK plan. By that measure alone we are the UK’s most trusted income drawdown provider.*
  • NEW lower charges for income drawdown
    We have reduced the cost of income drawdown. There are no fees from us to transfer-in, no fee for drawing a regular income or one off withdrawals (previously we charged £25 for one-off withdrawals and £10 for changing income withdrawals) and no fee to switch from an existing income drawdown plan held with Hargreaves Lansdown to New Drawdown.
  • Benefit from our award-winning helpdesk
    We've been voted Best SIPP Provider for the past eight years running. Our income drawdown specialists are always on hand to answer any questions you may have. There is no automated service, just friendly professional support.
  • Financial advice
    Income drawdown in the Vantage SIPP is offered without advice as standard. Income drawdown is a more complicated option, and if you are at all uncertain about its suitability, we strongly recommend you seek financial advice.

    Our advisory team would be happy to help you, for more information about their services please contact them on 0117 317 1690 or visit the advisory services section of our website.

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*Hargreaves Lansdown is the largest non-advised income drawdown provider by number of clients (47 drawdown providers surveyed). Money Management survey September 2014.