This is available if you have more than £10,000 in your pension pot.
With us, there are 2 options for taking your pension pot as a flexible lump sum. With both, usually you’ll get 25% of your pension pot tax free, and you’ll pay tax on the remaining 75% of it at the marginal rate you pay.
With the first option, you take your tax-free lump sum up front in chunks or in one go. You might hear this called flexi-access drawdown.
The second option lets you spread your tax-free lump sum across all withdrawals. You might hear this called uncrystallised funds pension lump sum (or UFPLS).
More about your different options for taking your pension savings »