Skip Header

Your pension drawdown guide

Important information - the value of investments and the income from them can go down as well as up, so you may not get back what you invest.

If you want to go into drawdown then you can choose to do it with our SIPP (Self-Invested Personal Pension). You can access your pension for free but normal SIPP fees apply such as ongoing fund charges. Our essential guide includes everything you need to know about drawdown, including:

  • How pension drawdown works
  • How you could take tax-free cash from your pension, and leave the rest invested
  • What the advantages and drawbacks of drawdown are
  • How drawdown compares with other income options
  • How to get the support you need before making a decision - everything from information and guidance to financial advice

Important information - the minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age. Tax treatment depends on individual circumstances and all tax rules may change in the future.

Want to receive similar drawdown guides and articles in the future? Simply complete the form below to sign up for regular updates to help with your retirement planning.