Flexi-access drawdown is a type of pension product that allows you to access your pension savings when you need to, with the rest of your pot remaining invested in a pension fund.

You can withdraw up to 25% of your pension at the start as a tax-free lump sum. The taxable balance is then moved into a “drawdown” account.  You can also decide whether you want a regular income or drawdown cash as and when you need it. This could come in handy especially if you are only partially retiring. Flexi-access drawdown was introduced in 2015 as part of a suite of pension reforms.