Pension Drawdown Calculator

Your Financial Plan

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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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

See Your Financial Future
Find > Organize > Simplify
We exist to improve your financial wellbeing

We use clever technology to bring your financial future to life

  • Find, organise and simplify your Pensions, ISAs and other investments.
  • Plan your financial future and put a strategy in place to achieve this.
  • Regularly review how you are doing to make sure you stay on track.

Contact Us

Head Office & Pensions and Investments
Senator House
85 Queen Victoria Street
London
EC4V 4AB
Personal Insurance & Accounts Payable
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
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If you are unhappy with our service, we have a complaints procedure, details of which are available upon request. If you are unhappy with how your complaint has been dealt with, you may be able to refer your complaint to the Financial Ombudsman Service (FOS). The FOS website is www.financial-ombudsman.org.uk.

Drewberry Ltd is registered in England and Wales. Companies House No. 06675912

Drewberry Ltd registered office: Telecom House, Preston Road, Brighton, England, BN1 6AF. Telephone 0208 432 7333

Drewberry Ltd (Financial Conduct Authority No. 505473) is an Appointed Representative of Quilter Wealth Limited and Quilter Mortgage Planning

Limited, which are authorised and regulated by the Financial Conduct Authority.

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