Accessing your money
What is flexi-access drawdown?
Flexi-access drawdown allows you to use your pension pot to provide flexible withdrawals. Using flexi-access drawdown you can usually take …
How do I access my flexi-access drawdown account?
Once we’ve set up your flexi-access drawdown account, following your first withdrawal, you’ll be able to log in to your …
What tax will I pay if I use my pension savings for flexi-access drawdown?
Using flexi-access drawdown you usually take up to 25% tax-free cash up front either a bit at a time or …
Can I pay further contributions after taking a flexible lump sum?
Yes, however, the annual allowance is a limit to the total amount of money you can save into your pension …
Can I take some or all of my 25% tax-free cash up front and leave the rest invested?
If you want to take a tax-free sum but leave the remainder of your pension pot invested, you’ll need to …
Can I only access part of my pension pot?
If you’re age 55 or over (or earlier if you’re retiring due ill health), and you have more than £10,000 …
I’ve a protected pension commencement lump sum (PCLS) which means I can take more than 25% of my pot as tax-free cash. What happens if I take this as a flexible lump sum?
If you use your savings for a flexible lump sum payment (UFPLS) with us: You’d lose this higher entitlement as …
Can I take as many flexible lump sums as l like?
You can take one lump sum a tax month. For example, from 6 May to 5 June. We don’t charge …
What are the differences between FAD and UFPLS?
Both flexi-access drawdown (FAD) and uncrystallised funds pension lump sum (UFPLS) are ways of taking your pension pot a bit …
Are there charges for withdrawing my pension savings?
No. We don’t charge if you decide to access your pension pot. To get the most from your pension when …