Drawdown income payment calendar
Income amendment cut off
Final sale cut off date for most funds
Date you should receive payment
Managing your drawdown income payments
You can set up regular income to be paid monthly, quarterly (March, June, September and December), half-yearly (June and December), or as an annual lump sum (you choose the payment month). You can also choose one-off payments instead of, or alongside, a regular income.
All requested income payments should arrive in your bank account on the 28th day of the month (or the previous working day). To guarantee this, we need to receive your new instruction by the 17th of the month in which the changes should take effect.
Important information - What you do with your pension is an important decision that you might not be able to change. You should check you're making the right decision for your circumstances and that you understand all your options and their risks. The government's free and impartial Pension Wise service can help you and we can offer you advice if you’d like it. The information on our website isn’t personal advice. Pension and tax rules can change and any benefits will depend on your circumstances.
Make sure you've got enough cash to cover your payments
It's your responsibility to make sure there's enough settled cash in your account to meet your income payment. Download our helpful factsheet for guidance on:
- How long it takes for cash to settle after a trade
- The impact of fund switching on settled cash
- What happens if you don’t have enough cash
Drawdown calculator
See what level of income withdrawals might be sustainable, and when you might run out of money.
Income tax calculator
Calculate how much tax you might pay on your drawdown income payment. Tax rules change and benefits depend on your circumstances.