Pension drawdown glossary
A one-off payment from a drawdown pot, as opposed to a regular income. Most platforms pay these free, but some charge per withdrawal — our comparison shows the charge where it is published.
Source: MoneyHelper: flexi-access drawdown explained · Last reviewed 24 September 2026
See every term in the A–Z glossary. Definitions are general information for the 2026/27 tax year, not personal advice.
Important: The value of investments can fall as well as rise. You may get back less than you invest. Tax rules can change and benefits depend on individual circumstances. This is not financial advice.