Any UK resident under 75 can open one, irrespective of whether they also have a workplace or other private pension scheme.

Pension schemes which allow members to designate defined contribution (DC) funds for drawdown may need to amend their scheme rules, following an update to HMRC’s Pensions Tax Manual. On 26 March 2025, ...

Capital at risk. The value of your investments can go up and down, and you may get back less than you invest. Income drawdown is a flexible way for those aged 55 and over to access the money in a ...