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Pension Drawdown Calculator

Pension drawdown offers a far more flexible way of drawing an income in retirement than an annuity. With drawdown, you can take as much or as little as you like from your pension, withdrawing what you need, when you need. This is opposed to an annuity, where you receive a regular, guaranteed income for the rest of your life.

Of course, with income drawdown you’re using a finite pot of money, which means it could run out if you take too much or withdraw funds too regularly.

You can use our Pension Drawdown Calculator to get a good idea of when your pension is likely to run out. The only detail you’ll need is an estimate of how much your pension is currently worth. Depending on your preference, the calculator can either show you:

  • How much you could withdraw each month from your pension if you want it to last to a certain age
  • The age your pension will run out if you withdraw a certain figure from it each month.
Pension Drawdown Calculator

When will your income drawdown pension run out? Enter the anticipated size of your pension pot at retirement and follow these easy steps to calculate how long your pension will last.

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Discuss your results with our experts
Receive Our Making Sense of Pension Income Drawdown guide

Will My Drawdown Pension Run Out?

There is a risk that your pension might not last long enough if you choose income drawdown. That’s because the pot is finite — every time you draw from it you reduce its total capital.

However, the main alternative to income drawdown is buying an annuity. Although this will offer you a guaranteed income for the rest of your life, annuity rates are currently very low due to a combination of economic factors, such as low interest rates and low yields on government bonds.

What’s more, there’s no inherent flexibility in this method of securing a retirement income when you compare buying an annuity with pension drawdown.

Income drawdown offers more control and flexibility than an annuity, as well as making it easier to leave a legacy to your loved ones after you’re gone.

You also don’t need to make an absolute choice between drawdown and an annuity. While an annuity is irreversible, so you can’t buy an annuity then cash it in to enter pension drawdown, you’re perfectly entitled to opt for drawdown at first and then use any remaining funds at a later point to purchase an annuity if that’s what you prefer.

Remember: Whether an annuity or drawdown is right for you will depend on your circumstances, so it’s best to discuss your situation and circumstances with an adviser before committing to either option.

Transferring a Final Salary Pension to Drawdown

If you’re considering a final salary pension transfer to switch to a defined contribution pension that allows income drawdown, then you can enter your cash equivalent transfer value or CETV into our drawdown calculator to get an idea of what you could withdraw.

If you don’t have a CETV yet, then you can get an estimate of what your final salary pension could be worth if you transferred out using our Final Salary Pension Transfer Calculator.

Your Financial Plan: Build A Better Future

A good financial plan can help you make the right decisions when it comes to your finances. Make the right decisions today to build a more prosperous future.

Good financial planning with clear goals can increase your retirement income by as much as 53%. Old Mutual Redefining Retirement Survey

Why Speak to Us…

We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as planning our finances. Below are just a few reasons why it makes sense to let us help.

  • See your financial future
    We use sophisticated financial modelling technology to visually show you your financial future. A living financial plan where you can clearly see what you can achieve depending on the decisions you make – read more
  • Achieve the retirement you deserve
    Can afford that dream round-the-world trip? Can you help your children onto the property ladder? We’ll model your goals and build your financial plan to help you achieve them.
  • Our expertise saves you time and provides peace of mind
    Organising your pensions, investing your assets, managing risk and making the most of your tax allowances is all taken care of as part of your financial plan.
  • We’ve got bargaining power on our side
    This allows us to negotiate better rates for you than dealing with providers yourself.
  • You’ll speak to a dedicated expert from start to finish
    You will speak to a named expert with a direct telephone and email. No more automated machines and no more being sent from pillar to post – you’ll have someone to speak to who knows you.
  • Benefit from our 5-star service
    We pride ourselves on providing a 5-star service, as can be seen from our 2386 and growing independent client reviews rating us at 4.92 / 5.
  • Gain the protection of regulated advice
    You are protected. Where we provide a regulated advice service we are responsible for the decisions we help you make. Doing it yourself or going direct to a provider won’t provide this protection, so you won’t benefit from these securities.
Our Services & Tools

Your Financial Plan

Who Are Drewberry?

Our purpose is simple: Improve your financial wellbeing. We use technology to bring your financial future to life and provide a visual plan of where you are today, where you want to go and what's necessary to achieve this.

📥 Financial Plan Brochure

Pension Pot Calculator

Pension Pot Calculator

How much will your pension be worth when you retire? Use our Pension Calculator to work it out and get a free copy of our Guide to a Richer Retirement.

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Discuss your results with our experts
Receive our Guide to a Richer Retirement

Pension Drawdown Calculator

Pension Drawdown Calculator

When will your income drawdown pension run out? Enter the anticipated size of your pension pot at retirement and follow these easy steps to calculate how long your pension will last.

  • £
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Discuss your results with our experts
Receive Our Making Sense of Pension Income Drawdown guide

Final Salary Calculator

Final Salary Pensions Transfer Calculator

Find out how much your final salary pension might be worth in today's money if you considered accepting a cash equivalent transfer value from your scheme.

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Discuss your results with our Pension Experts
Receive Our 2019 Guide to Final Salary Transfers

Book a Demo

Book Your Financial Planning Demo

Book a demonstration to see how our experts use advanced financial modelling software to maximise our clients financial wellbeing and keep them on track for the future they deserve 🤓

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Our Core Principles
  • 1You Come FirstWe are a client focused business who always aim to put you first.
  • 2We are ExpertsTo provide you with the best advice, we need to know our stuff!
  • 3We are HumanWe are real people with feelings who are here to help you.
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  • 5We are here to EducateWe don't believe in sales, we are here to educate so you can make informed decisions.