Pension drawdown glossary
Drawdown taken by someone who inherits a pension that was already inherited — for example a grandchild receiving what was left in a parent's nominee drawdown. It lets pension money pass down more than one generation.
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.