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 »

You have the option of going into income drawdown now, and from April take advantage of New Drawdown rules (also known as flexi access drawdown) allowing you to take whatever income you wish from your pension.

To find out how much income you could take in existing income drawdown, request your free personal income drawdown illustration which will show you how withdrawals and charges will affect your income and how investment performance can change your fund value over time, all with no obligation to proceed.

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Request your free guide to income drawdown


Compare the different drawdown options


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So far the customer service has been 100%. Even though they must have thousands of clients, the attention I have received makes it feel like a very select club where no one gets left out.

Mr Lloyd, Lanarkshire

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Thank you. Once again you have done what I asked when you said you would. I cannot fault the service. Regarding Vantage, it is greatly advantageous that I can see all my ISAs and SIPP in one place and click back and forth between investment charts, etc.

Mr Gray, Derbyshire

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Thank you for the speedy and exemplary manner in which Hargreaves Lansdown organised my transfer to a Vantage SIPP. Of all the parties involved, only Hargreaves Lansdown demonstrably understood the age 75 issues and flexible drawdown. Thank you again.

Mr Roberts, London

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Always most helpful providing information and making deals over the phone, appreciated as I am a dinosaur. Though most important information I can find on the internet is useful, human contact is better for placing deals until I can remove my L plates!

Mr Malin, West Sussex

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Your service is always first class but dealing with you on setting up my flexible drawdown SIPP has been excellent. The info provided and prompt and efficient setting up of the drawdown has been impressive. Why can't all companies be like this!?

Mr Smith, Surrey

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Excellent documentation. Once I instructed the drawdown and
re-investments, all was executed speedily, clearly and with good communication. Your helplines are excellent too.

Dr Helevuo, Oxfordshire

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HL made a relatively complicated procedure very easy to follow and completed all the necessary transactions quickly and efficiently. Expert information was on hand throughout. I would recommend the service to anyone.

Mr Mathews, Liverpool

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FAQs

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.