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  • What is pension drawdown? I have three pensions from different employers…I already started taking money from two of them when I turned 55 and am going to start the third soon when I take early retirement…I am 63 so will get state pension soon as well.

    Posted by Wildbill
    • Reply by Mike Mc

      Pensions are very individual and complicated. Have a look on pensionwise.

    • Reply by NickyB

      I believe drawdown is when you take lump sums out of the pot periodically rather than a regular monthly amount. This allows the pot to accumulate more interest( ha, ha). You do need to take advice from an expert but I’ve got friends that it suits very well and they would recommend it.

    • Reply by Philip from London

      Moneyfacts have a useful description and a link to a tool that helps you plan your retirement in less than ten minutes. https://moneyfacts.co.uk/retirement/how-does-pension-drawdown-work/