Key pension facts

Drawing benefits

Withdrawing from a pension

This simply means withdrawing money from your pension pot, which can normally happen as early as your 55th birthday. You can draw benefits as an annuity or as income drawdown, and you can normally take a quarter of the pot as a tax-free lump sum (see Pension Commencement Lump Sum (PCLS)).

See also our retirement planning blog post.

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