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Income Drawdown

TD SIPP retirement options

The TD SIPP gives you flexibility to decide how and when (from age 55) you want to start drawing your retirement benefits. When considering your options you should first consider whether you need the security of income provided by an annuity. If this is not your main priority, then you could consider Income Drawdown.

With income drawdown you can:

Take a tax-free lump sum at retirement

Choose the level of income you want to take from your pension

Continue to keep your pension fund invested during retirement

Take a combination of tax-free cash and income as a one-off payment

If you are considering taking Income Drawdown rather than purchasing an annuity at retirement it is important that you understand the benefits and risks of Income Drawdown. To find out more read our Retirement Options Guide.

How can Pension Wise help?

Introducing Pension Wise

Everyone with a Defined Contribution pension scheme is entitled to access free, impartial guidance on their pension options, including a face-to-face or telephone appointment, provided by Pension Wise, a guidance service backed by government.

Find out more

Find out more about Pension Wise. TD talks to Michelle Cracknell CEO Pension Advisory Service

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Receiving Advice on Your Retirement Options

Prior to making any decision about your retirement options we also recommend that you seek guidance from Pension Wise or advice from a suitably qualified financial adviser.

Please note that AJ Bell Management and SIPPdeal Trustees Limited are not able to offer advice. TD Direct Investing is not able to offer advice on your retirement options.

Your retirement options

Options at retirement

Read our guide to understanding your retirement options.

New customer

If you haven't got an account with us you'll need to apply.


  • You also need to download and read our Retirement Benefits Guide making sure you are aware of the risks as well as the benefits.
  • Download and complete our Drawdown and Lump Sum Benefits Form.
  • You need to consider the investment returns that you may be able to achieve and the level of income that you wish to take.

Understanding the risks


The investments made within a pension can fall as well as rise and you may end up with a fund at retirement that’s worth less than you invested. You can normally only access the money from age 55. Prior to making any decision about the suitability of a pension to meet your retirement needs, we recommend that you seek the advice of a suitably qualified financial adviser. TD Direct Investing does not provide advice on your retirement options. The tax treatment of this product depends on your individual circumstances and may change in the future. Taking income direct from your SIPP instead of buying an annuity from an insurance company can be complex. You need to consider the investment returns that you may be able to achieve and the level of income that you wish to take.

Open a TD SIPP


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The TD SIPP is administered by AJ Bell Management Limited. AJ Bell Management Limited is Incorporated in England and Wales under registration number 3948391. Registered Office: Trafford House, Chester Road, Manchester, M32 0RS. Authorised and regulated by the Financial Conduct Authority (Financial Services Register Firm Reference Number 211468). Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, Incorporated in England and Wales under registration number 4050222. Registered Office: Trafford House, Chester Road, Manchester, M32 0RS. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated.

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