Flexi-access drawdown allows you to use your pension pot to provide flexible withdrawals. Using flexi-access drawdown you can usually take up to 25% tax-free cash up front either a bit at a time or in one lump sum. Under HMRC rules, for every £1 you take as tax-free cash, £3 is moved to a flexi-access drawdown account that we set up for you. Then each time you take money out of that account you may pay tax on the full amount of each lump sum.

Find out more about taking your tax-free cash up front with flexi-access drawdown