Benefits of Income Release

Defaqto 5 Star rated
We offer one of the highest quality drawdown products in the market.

Flexible saving
Continue to save into your plan after taking any tax-free cash and/or income.

Value for money
We’ll only apply an initial one-off charge in certain circumstances.

Fast payment
We’ll typically pay tax-free cash into your bank account within 5 working days.

Money for loved ones
Leave your retirement savings to your loved ones when you die.
Working with advisers
We choose to distribute our personal pension products and services through financial advisers. Simply because we believe that’s the right thing to do.
The world of pensions can be a complex place. And we think quality impartial advice is the best way of making sure you find the right products to suit your needs.
Advisers may charge for their services – though they should agree any fees with you upfront.
How Income Release works
With Income Release, you’re in control. You decide how much tax-free cash and income you need, and when you need it.
Once you’ve decided how much tax-free cash and income you’d like to take, we’ll split your retirement savings into two separate accounts: an Income Release Account and a Savings Account.
Income Release Account
This part of your plan pays out the tax-free cash and any regular income payments you've selected.
With flexible access, your income isn't guaranteed to last forever. So if you take out too much money, live longer than expected or if your investments don't perform as well as you'd hoped, you could run out of money before you die.
Savings Account
Any retirement savings you don’t use to provide tax-free cash and income will stay in your Savings Account.
You can continue to save for your future by making contributions into your Savings Account. Of course, while your retirement savings could grow, their value can also go down. This means you could get back less than you started with.
An initial one-off charge of £208 may apply when you first use Income Release, which covers our costs in setting up and administering your Income Release Account.
We’ll only apply a charge to start using Income Release if your plan has been with Royal London Intermediary for less than 12 months.