A Pension Drawdown (sometimes known as Income Drawdown) is a personal pension plan from which you can draw an income.
A Pension Drawdown plan allows you to unlock the tax-free cash from your pension plans without taking out an annuity.
You retain ownership of the funds and the funds continue to be invested. A pension drawdown is an alternative to an annuity which gives greater flexibility.
For more information about what a pension drawdown is and how we may be able to help, speak to one of our professional advisers.