Drawdown and withdraw

Pension drawdown made easy

Making pension drawdown simple so it’s easy to start retirement the right way.

Easy to manage

Access your savings with a few taps online or via our in-app chat.

We'll process the withdrawal for you and everything you need is available online or through the app. No paperwork required.

Withdrawing with Penfold is free - there are no hidden charges for transferring or accessing your money.

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Retirement the way you want it

Access your money however you like with Penfold.

Choose drawdown, an annuity or even taking a lump sum in one go.

Our service is completely flexible to your needs. Tweak your monthly withdrawals as often as you like, for free.

There are no minimum withdrawals or restrictions on how you spend your hard-earned savings.

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Support with your retirement

Accessing your pension shouldn’t fall solely on your shoulders.

Our expert support team are on-hand to help you make the right decisions for retirement. We'll guide you through the entire process, step by step.

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More benefits of our pension

Fund options

Hand-picked, diversified pension plans backed by BlackRock and HSBC that help grow wealth.

Discover our fund options

Charges & fees

We hate hidden charges. That’s why we have one fee that covers absolutely everything within our service.

Find out about our fees

Single savings view

Combine pensions into one account to see total pension savings and get a clear view of projected retirement lifestyle.

See the easy way to combine


Peace of mind that savings are FSCS protected and invested by some of the largest money managers in the world.

Learn how we protect savings

Pension withdrawal FAQs

Join Penfold and bring financial wellbeing to your team

Give your team a top pension and boost their financial wellbeing

Boost your benefits package to keep and tempt the best talent

Get industry-beating account management at no extra charge

Book a Demo