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Pension withdrawal

Start your retirement the right way with Penfold.

Penfold app dashboard and fund performance screens highlighting pension withdrawal and drawdown payment notification

Pension withdrawal made easy

Penfold makes withdrawing your pension simple - so you can start your retirement the right way.

Access your savings online from age 55.

Combine all your pensions into one app and access your savings with a tap. We'll process the withdrawal for you and everything you need is available online. No paperwork required.

Our fees
Pension contribution type and payment type screens in the Penfold app

Online and on your terms

Plans change. So can your pension.

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.

Pension drawdown

How to withdraw with Penfold

Let us know

First step is to tell us you'd like to retire. Get in touch with us online or via our in-app chat and we'll start the withdrawal process.

Pick how you'll withdraw

Decide how you'd like to access your money. Get access to our expert withdrawal guides and resources to make the right decision for you.

Confirm your details

Your security is our priority. We'll need to verify you information and confirm where you'd like to receive your withdrawals..

Enjoy your retirement

Once we've processed all your information, you'll start to receive your pension payments into your chosen bank account. This normally takes a few weeks.

Penfold apps showing customer service chat and pension FAQs screens

Supporting your retirment

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

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

If you're interested in finding out more about pension withdrawals, please visit our Pension Withdrawal guides.

Pension withdrawals guides


A money bag with pension written on it

Pension withdrawal basics

The first article in our series of withdrawal basics guides looks at when you can start withdrawing your pension.

When can I withdraw my pension?
Professional man using a calculator on wooden table

Pension withdrawal tax

Our pension withdrawal tax article looks at what you need to know about paying tax when you start withdrawing your pension.

How much tax will I pay when I withdraw my pension?

Pension withdrawal rules

The first article in our series of withdrawal rules guides looks at scenarios that could affect your pension, and what to do about them.

Can a pension plan be taken away?

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