Pension drawdown and you

The flexible way to make the most of your retirement savings.

We are authorised and regulated by
the Financial Conduct Authority

Be pension flexible: 5 key facts

Pension drawdown means from 55 you can take money from your pot whenever you like
The first 25% is tax free; after that each withdrawal is subject to income tax
You can set up a regular income payment, or take your money as and when you need it
The money left in your pot remains invested, with the aim of growing these investments as much as possible
Nominate who will receive any remaining funds in your pot when you die

Man laughing with friends | Pension drawdown

Releasing pension money early isn’t right for everyone as it will leave you worse off in retirement. That’s why it makes sense to talk to a financial adviser, such as Pension Access. Tax treatment depends on your individual circumstances and may be subject to change.

Get started for free

We can check to see if pension drawdown is right for you. Our initial investigation into your pension is free. And in most cases we can continue to provide full advice with no obligation. At any stage you can choose to walk away, better informed and with nothing to pay.

Get started

How it works in 3 easy steps

With our no obligation pension check discover if pension drawdown is right for you.

Your permission

Complete and return a simple form giving us your permission to check your pension.

We analyse

Our team gathers and analyses all the information we need about you and your pension.

Your decision

We’ll send you a report, clearly stating what we think you should do. The choice is then yours.

If you decide to enter pension drawdown and release some of your savings, we can take care of everything. This includes managing your pension for you. We would let you know in writing what the fee would be. Or, you can choose to walk away with nothing to pay.

Is pension drawdown right
for you?

While there’s a lot to like about pension drawdown, the flexibility on offer can create a number of challenges.

You could end up with a large tax bill
You could run out of retirement savings too soon
Your pension investments need regular management

That's why it makes sense to speak with a regulated financial adviser before making any final decisions.

Middle aged lady holding tablet | Is pension drawdown the right thing to do?

Protection for you and your
pension

Through Pension Access, your pension savings are protected by the Financial Services Compensation Scheme up to £85,000 in the event your scheme provider fails. You also have access to the Financial Ombudsman Service.

Pension drawdown and you

Be pension flexible: 5 key facts

Get started for free