Choose your drawdown method

Review and update your drawdown

You can choose which investment options your Flexi Pension payments and withdrawals come out of.

Log in to your account to check and update your drawdown method.

You should review and consider whether to switch your investments before setting or changing your drawdown method.

Drawdown methods

There are 3 options:

• Your choice (Choose your order)
• Pro-rata
• Default order

If your account is invested in more than one investment option and you don’t choose a drawdown method, the default drawdown order applies.

Your choice

You nominate the order of investment options which pension payments and lump-sum withdrawals are drawn from.

• Your payment is drawn from your first nominated investment option until the balance in this option runs out. Payments are then drawn from your next nominated investment option until that runs out, and so on.
• If the balance in a nominated option is lower than the payment amount, part of the payment will come out of that investment option and the rest from the next nominated investment option.
• Once all your nominated investment options have been exhausted, the default order applies.

Pro-rata

Your pension payments and withdrawals are drawn from your account in proportion to the balances held in each investment option at the time of payment.

Default order

Your pension payments and withdrawals are drawn from your investment options in the default order.

• Your payment is drawn from the highest investment option you have in the default order until the balance in this option runs out. Payments are then drawn from the next highest until that runs out, and so on.
• If the balance in an option is lower than your payment amount, part of the payment will come out of that investment option and the rest from the next highest in the default order.