Pension drawdown glossary
Four ready-made investment options that drawdown providers must offer to people who move into drawdown without advice, each linked to a plan for the money — for example, taking it all within five years or using it for a long-term income.
Source: FCA: strategic priorities for the pensions sector (investment pathways) · 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.