Pension drawdown glossary
The share of your pot you take out each year. Higher rates raise the chance of running out of money; rules of thumb such as 3–4% are only a starting point, not a guarantee.
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.