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Guide to Drawdown

GUIDE TO DRAWDOWN

Drawdown can be a great choice for your retirement. But with the flexibility of drawdown comes extra complexity - and risk. This guide is not personal advice, but you'll learn:

  • How you could take 25% of your pension tax-free, and leave the rest invested
  • The different ways to take an income from your pension
  • Why it's crucial to understand the risks of drawdown
  • How you could pass pension wealth to your loved ones free from inheritance tax
  • How to get started with drawdown

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    The guide you will receive is not personal advice. Drawdown is a higher risk option than an annuity, if you are at all uncertain about its suitability for your circumstances please seek advice. Remember the value of your investments can go down as well as up so you could get back less than you invest. Pension and tax rules can change, and their benefits depend on your circumstances.

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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.

    One of the most flexible ways to access your pension

    Drawdown can be a great choice for your retirement. But with the flexibility of drawdown comes extra complexity - and risk. In this guide you’ll learn:

    • How you could take 25% of your pension tax-free, and leave the rest invested
    • The different ways to take an income from your pension
    • Why it's crucial to understand the risks of drawdown
    • How you could pass pension wealth to your loved ones free from inheritance tax
    • How to get started with drawdown

    We wrote this guide to give you useful information about drawdown, but it’s not personal advice. Drawdown is a higher risk option than an annuity, if you are at all uncertain about its suitability for your circumstances please seek advice. If you choose to invest, just remember that investments can go down as well as up in value, so you could get back less than you put in. Pension and tax rules can change, and their benefits depend on your circumstances.

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