Pension drawdown glossary
Drawdown taken from an inherited pension by someone who is not a dependant but was nominated by the pension holder or chosen by the scheme — for example an adult child. It lets them keep the money invested and take it over time.
Source: HMRC Pensions Tax Manual PTM072430: beneficiary's flexi-access drawdown · 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.