New TDDI SIPP (coming soon)

  • A new simple, annual flat fee
  • A vast choice of investments and currencies available
  • Provided in association with specialist pensions administrator Barnett Waddingham

Income Drawdown

The SIPP gives you flexibility to decide how and when (from age 55, 57 from 2028) 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.

  • Continue to keep your pension fund invested during retirement.

Receiving Advice on Your Retirement Options

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

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.

You need to consider the investment returns that you may be able to achieve and the level of income that you wish to take.

How can Pension Wise help?

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.

Visit Pension Wise

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