Pension drawdown glossary
A pension where you build up a pot from contributions and investment growth, such as a SIPP, personal pension or most modern workplace pensions. What you get depends on how much goes in, how the investments perform and the charges. These are the pensions that can be used for drawdown.
Source: MoneyHelper: pensions glossary · 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.