Pension drawdown glossary
An investment approach that automatically moves a pension into lower-risk assets as a set retirement date approaches. Many older strategies were designed for buying an annuity, so it is worth checking whether yours suits drawdown.
Source: MoneyHelper: why has my pension pot gone down in value? · 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.