Why go for drawdown?
Well, pension drawdown gives you access to your money whenever you want or need it. The rest of your fund stays invested so, it’s a bit like having a large, flexible savings account.
And remember, the first 25% of your pension fund that you drawdown is tax-free. Importantly, anything left in the fund can be inherited by your loved ones, unlike an annuity.
If you want a flexible income in retirement, pension drawdown could be right for you.