Pension drawdown glossary
An online service that puts your money into a ready-made portfolio based on your answers to questions about risk and goals. Most provide guidance or discretionary management rather than personal advice, and charge an all-in or management fee.
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.