Pension Income Drawdown
We deliver professional UK pension drawdown advice
Pension drawdown, otherwise known as income drawdown, allows you to access up to 25% of your pension tax-free; if you’re 55 years or older. Since Pension Freedoms were introduced in 2015, people now have more flexibility when it comes to accessing their private and old workplace pensions.
We can help you drawdown your UK private pension. We also provide a free assessment of your pensions, to find the most suitable policy for you and your individual needs, which includes checking if you’re paying excessive fees. To get started, fill in our enquiry form or call our friendly team on 0808 164 2664 today.
Pension Drawdown Information
What is Income Drawdown?
Pension Drawdown, also known as Income Drawdown is a way of accessing your private pension(s) while keeping the balance of your funds invested. Drawdown is a more flexible way of taking an income or a one-off tax-free lump sum from your pension pots.
What is Flexi-access drawdown?
Flexi-access drawdown allows you to take unlimited, but taxable withdrawals from your pension. It is combined with the option to pass funds on after death which makes flexi-access drawdown an appealing option when taking pension benefits from a money purchase arrangement.
Why use Pension Works for pension drawdown?
Our job as pension drawdown advisers means we will assess your current pension provisions and deliver a comprehensive report that will outline all of your options. The report will also explain how your current pension(s) are performing and whether there are better products for you on the market, and is entirely free and without obligation.
If your pension funds are valued over £30,000, and you’re looking at your options for pension drawdown, it’s recommended that you take professional advice to ensure you’re making the right decisions with your financial future.
Contact us today by calling 0808 164 2664, make an enquiry by filling in the form on this page, or simply start the drawdown process online.
Peace of mind
Pension Works are authorised and regulated by the Financial Conduct Authority. We work with all major UK pension providers to ensure your retirement is in experienced hands.
Could Pension Drawdown
be right for you?
There could be many benefits of drawdown for you and your pension.
25% Tax-free lump sum – if you’re 55 years or older, you could take a tax-free lump sum from your pension. For example the lump-sum could be used to pay off your mortgage or other debts while you’re still employed and keep the rest of your pension invested.
Investment growth – even after you have retired by using pension drawdown, your pension investments could continue to grow unlike if you purchase an annuity.
More flexibility – with flexible drawdown, you can take money out of your pension when you need it, leaving the rest invested.