Properties
Alt label
- Pension drawdown
SES ID
- 13544
- 53017
Notation
- 13544
In scheme
Broader
Related
Definition
- Introduced April 2006. An alternative to buying an annuity. It allows the pensioner to draw an income from their pension fund while leaving their fund invested. An unsecured pension will stop at age 75, and must then secure an income from their pension funds, which generally means buying a lifetime annuity, or an alternatively secured pension.