Retirement Calculator - Pension (Income) Drawdown

Income drawdown (or pension drawdown) is a type of pension product that lets you take an income from your pension fund while leaving it invested so you can continue to benefit from growth in the fund. By using income drawdown, you avoid or defer turning your fund into an annuity.

The income you can draw from the plan can be changed from year to year to suit your changing needs e.g. if you retire before your state pension begins you might need a higher income until then. Alternatively, if you are going to be working part time for a few years, you might need less pension income until you take full retirement.

You can take your full tax free lump sum at the outset, or in instalments as part of your retirement benefits which in many cases will be more tax efficient.

To check how much income you might be able to obtain at retirement using pension (income) drawdown and how sustainable that income will be, please try our calculator. This provides only a basic analysis and if you want a more detailed analysis contact us to arrange a free online consultation with one of our retirement analysts.


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