Pension Drawdown

Pension Drawdown is a flexible way of taking money from your pension savings as and when you need to. You can usually access up to 25% cash tax-free from your pension savings, and leave the rest invested until you need it.

If you're comfortable keeping some of your pension pot invested and can manage your pension savings to make sure you have enough money in retirement, pension drawdown could be a good choice for you. To help you do this, you'll need to review your pension savings regularly, so you know how much income you can take and make your savings last as long as you need them to.