Retirement Income

Retirement Account

Help your clients manage their retirement with our flexible income options.

At A Glance

  • Available up to age 99.
  • Comprehensive range of investment solutions including our Retirement Portfolio Funds (RPF) that are designed specifically to increase the likelihood of sustaining an income.
  • We also offer 4 investment pathways designed to target various options at retirement.
  • From age 55 (expected to be age 57 from 2028) designate into Retirement Income, or use Drip Feed Drawdown (automated phased drawdown) up to age 75 to to take tax-free cash gradually.
  • No minimum income withdrawal amount.
  • Can be paid monthly, quarterly, half-yearly, yearly, or ad-hoc – change at any time.
  • Takes capped drawdown transfers - switch to flexible drawdown at any time.

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Want to get a Retirement Account plan for your client?

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Key details  


  • Minimum age 55 (expected to be age 57 from 2028). This may be lower in certain circumstances.
  • Must be a UK resident.
  • For Drip Feed Drawdown see our Adviser Guide (PDF, 4MB)
  • Find details of the RA target market here (PDF, 163KB)

Minimum payments

  • The Account must hold at least £10,000 (before tax-free cash) to move into Retirement Income. If the Account is being opened with a drawdown to drawdown transfer, this must be at least £7,500.
  • There’s no minimum for Drip Feed Drawdown.

The amounts shown above can change.

Choices from age 55  (expected to be age 57 from 2028)

  • Moving into Retirement Income by designation, immediate vesting or Drip Feed Drawdown (PDF, 4MB) can allow your client to take up to 25% (more if your client has a protected lump sum entitlement - please note drip-feed drawdown is not available to clients with a protected lump sum entitlement) of the value as a tax-free lump sum from each crystallisation amount.
  • No minimum income withdrawal amount.
  • Transfers in on a capped drawdown basis can continue on that basis if required but can switch to flexible drawdown at any time.
  • Income can be paid monthly, quarterly, half-yearly or yearly.
  • Ad-hoc payments available.
  • Amount and frequency can be changed at any time.
  • Income payments made by BACS, net of tax using PAYE.
  • Buy an annuity or transfer to another provider at any time.

Death benefits

On death, the value of the Account is available to provide benefits for beneficiaries with us or another provider.

Find out more about death benefits (PDF, 260KB)

It's quick and easy to nominate beneficiaries - complete the nomination form (PDF, 510KB) and email to this mailbox.  No signature is required, we just need a confirmation E-mail from your client.

Key documents

Adviser Technical Guide (PDF, 3MB)

Retirement Account Customer Guide (PDF, 2MB)

Key Features of Retirement Income (PDF, 609KB)

Drip Feed Drawdown Adviser Guide (PDF, 4MB)

Due Diligence (PDF, 882KB)

See all our documents in one place, including forms, guides and brochures.

Literature library

Smart ways of managing retirement income

  • Our Retirement Portfolio Funds help you address the challenges of investing for retirement income. These are innovative, low cost at 0.2% Total Annual Fund Charge, multi-asset funds designed to manage significant volatility to help a pension pot last longer. As they balance the need for growth and manage the risks of volatility, they are a good option for clients who use income drawdown.

    Learn more about our Retirement Portfolio Funds

    Our investment pathways have been carefully designed to offer four pathways in which your client can invest the remainder of their pension pot. These are aligned to how your clients might want to use their pension pots in the next five years.

    For more details, please see – 

    Retirement Outcomes Review Investment Pathways (PDF, 499KB)

  • Our automated phased drawdown option, allowing your clients to draw regular amounts up to age 75, using just tax-free cash or a combination of tax-free cash and taxable income to help control the level of taxable income they receive in retirement.

    • Helps your clients to manage their tax affairs efficiently.
    • Taking money gradually means their retirement pot has more potential to grow.  
    • Opportunity for further tax-free cash to be accumulated.

    For more details, please see -

    Drip Feed Drawdown Adviser Guide (PDF, 4MB)

  • As the market settles after pension freedoms, should you complement the Centralised Investment Propositions you use for clients accumulating wealth with a Centralised Retirement Proposition (CRP) for clients needing income?

    Our in-depth CRP Adviser Guide (PDF, 49KB) takes you through the steps involved.

    Centralised retirement infographic
    • Retirement income may be liable to personal income tax.
    • Tax treatment depends on the individual circumstances of your client. Tax rules and your client’s circumstances may change in the future.
    • Tax charges will normally apply if the Government’s ‘Annual Allowance’, ‘Tapered Annual Allowance’, ‘Money Purchase Annual Allowance’ or ‘Lifetime Allowance’ are exceeded.
    • The value of your client’s Account can go down as well as up, and could fall below the amount(s) paid in.
    • If any income and the charges deducted from your client’s Account are more than any investment growth, the value of their Account will go down. This could reduce the amount of income that they can take in the future and the income from any annuity bought later.
    • High levels of income may not be sustainable and in some cases could reduce the value to zero. You should consider the impact this might have on your client’s income in retirement.
    • The income from your client’s Account and any annuity bought later may be less than they could have received if they had bought an annuity at the start.
    • Some investments, such as property, can take longer to buy and sell than others. This may delay switching between investments and when benefits or any transfer payments can be taken.

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