Flexi-Access Drawdown

The Taxation of Pensions Act 2014 allows pension savers who have reached pension age to draw from their pension funds without limit from 6 April 2015.

From 6 April 2015, the method of providing drawdown income for those not already in drawdown will be from a Flexi-Access Drawdown fund. It will not be possible to set up a new capped drawdown fund (other than for transfers of existing cases) or a new flexible drawdown fund from 6 April 2015.

This technical briefing details the rules regarding Flexi-Access Drawdown.

"There is no limit, other than availability of funds, on how much can be drawn out each year."