- Free, no-obligation conversation
- FCA-regulated advisers only
- Takes around 60 seconds to enquire
Understand Your Options Before You Decide
Secure Data Protection · Data Compliant — we never charge for putting you in touch with an adviser, and your details are passed to one FCA-regulated firm only.
What Happens Next
- You tell us the basics. Approximate pot size, your age, and when you plan to start taking money. Around 60 seconds.
- We match you to a regulated firm. One FCA-regulated adviser who specialises in retirement income.
- They call you. Usually the same working day, to talk through your options.
Drawdown In Plain English
From age 55 (rising to 57 in April 2028) you can normally take up to 25 per cent of your pension as tax-free cash. With drawdown, the rest stays invested and you take income from it as and when you need it.
The appeal is obvious. You keep control, your money stays invested with the potential to grow, and anything left when you die can usually be passed on.
The risk is equally obvious once someone spells it out: your pot is not guaranteed to last. Take too much too early, or hit a bad run of markets in the first few years, and the money runs down faster than you can recover from.
The four things that decide whether drawdown works for you
- How much you take. Sustainable withdrawal rates are lower than most people assume. A regulated adviser will model it against your actual pot.
- How it is invested. The investment strategy that built your pot is rarely the right one for drawing from it.
- Tax. Only the first 25 per cent is tax-free. The rest is taxed as income, and a large withdrawal in one tax year can push you into a higher band unnecessarily.
- Emergency tax. First withdrawals are frequently taxed on an emergency code and overpaid. It is reclaimable, but only if you know to reclaim it.
Drawdown is not the only option
You can take an annuity, use drawdown, take lump sums, or combine them. Many people are better served by a mix. A regulated adviser will tell you which applies to your circumstances – including if the answer is to leave it alone for now.
Common Questions
At what age can I start drawdown?
Normally 55. This rises to 57 in April 2028. Some older schemes have different protected ages.
How much can I take tax-free?
Usually up to 25 per cent of your pot, subject to an overall limit. Anything above that is taxed as income at your marginal rate.
Will my money run out?
It can. Unlike an annuity, drawdown carries no guarantee. How long it lasts depends on how much you take, how it is invested, and how markets perform. This is precisely what regulated advice is for.
Can I still work while taking drawdown?
Yes. But taking taxable income from a pension can trigger the Money Purchase Annual Allowance, which sharply reduces how much you can pay into pensions afterwards. Worth understanding before you draw, not after.
Can I move my pension to get drawdown?
Often yes, though not every scheme offers it and transferring is not always the right move. An adviser will check what your existing scheme allows and whether transferring is in your interest.
What does this cost me?
Nothing to enquire, and nothing to be introduced. The adviser explains their own charges before you agree to anything.
Understand Your Options Before You Decide
Free, no obligation, no pressure. Enter your details and a regulated adviser will call you back.