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7 traps for drawdown and tips to avoid them

7 traps for drawdown and tips to avoid them

Drawdown mistakes can be very costly. We strongly recommend you discover all the potential pitfalls as well as our easy-to-follow tips to make the most of the pension you’ve worked hard to build up. This factsheet is not personal advice but reveals:

  • The traps that can cost thousands for unsuspecting drawdown investors
  • Tips for picking the best drawdown provider
  • How to avoid paying more tax than you need to

Download our factsheet

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    The factsheet isn’t personal advice. Remember the value of your investments can go down as well as up, so your income isn’t secure and you could get back less than you invest.

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    The information on our website is not personal advice but we can offer advice if specifically requested. What you do with your pension is an important decision, which could be irreversible. Drawdown is a more complex option than an annuity. Make sure you understand your options and check they are suitable for your circumstances: take appropriate advice or guidance if you are unsure. The Government's free Pension Wise service can help. It provides impartial guidance face-to-face, online or by phone - more on Pension Wise.

    A must-read for anyone thinking about drawdown

    When it comes to your money and savings, mistakes can be costly. Deciding what to do with your pension is an especially important decision, and one that shouldn’t be made lightly.

    Though drawdown might be a tempting option, we strongly recommend you understand all the potential pitfalls as well as the steps you can take to avoid them. That way mistakes might be less likely.

    Our easy-to-follow factsheet explains:

    • The traps that can cost thousands for unsuspecting drawdown investors
    • Tips for picking the best drawdown provider
    • How to avoid paying more tax than you need to

    Plus, we’ll point you in the direction of more specific tools which you might find helpful.

    The factsheet isn’t personal advice. Remember the value of your investments can go down as well as up, so your income isn’t secure and you could get back less than you invest.

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