Pros


  • You can keep your money invested and take a regular income
  • You have the flexibility to make changes to the amount of income you receive
  • You can leave any remaining money in your drawdown account to your next of kin (subject to tax)
  • You can take 25% tax free as a lump sum or on the income you receive

Cons


  • You could run out of money
  • If the value of your investment goes down, taking the same amount of income could erode the value of your investment
  • You need to regularly review your investments and the level of income withdrawn to make sure you are on track
  • After you have taken your 25% tax free the remaining 75% is liable to income tax
  • You may require a minimum fund value in order to qualify
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Contact

If you are a member of a pension plan administered by BlackRock, then please contact us at


0345 601 7720

blackrock.pensionsuk@blackrock.com