Managing your drawdown income payments
If you’ve set up an income payment, it should arrive in your bank account on the 28th day of the month (or the previous working day). If you want to request a new income payment or change an existing one, we’ll need your instruction by the 17th day of the month it should start.
Important information- What you do with your pension is an important decision that you might not be able to change. You should check you're making the right decision for your circumstances and that you understand all your options and their risks. The government's free and impartial Pension Wise service can help you and we can offer you advice if you’d like it. The information on our website isn’t personal advice. Pension and tax rules can change and any benefits will depend on your circumstances.
Make sure you’ve got enough cash to cover your payments
It’s your responsibility to make sure there’s enough settled cash in your account to meet your income payment. Download our helpful factsheet for guidance on:
- How long it takes for cash to settle after a trade
- The impact of fund switching on settled cash
- What happens if you don’t have enough cash
See what level of income withdrawals might be sustainable, and when you might run out of money.
Income tax calculator
Calculate how much tax you might pay on your drawdown income payment. Tax rules change and benefits depend on your circumstances.