Pension drawdown glossary
The dividends and interest your investments pay out. Taking only the natural yield as income leaves the capital invested, although the amount paid can go down as well as up.
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.