Start taking or amend your income from a capped drawdown SIPP
Capped drawdown is only available if you have already moved funds into capped drawdown. Since 6 April 2015, the option to enter capped drawdown has been unavailable to new retirees.
If you have already moved some or all of your SIPP into capped drawdown, you can start taking a taxable regular income or take a single taxable payment from those funds. You can also amend your existing capped drawdown regular income payments.
To start taking or amend your capped drawdown income:
- You need to complete and return a starting / amending income payments for capped drawdown form. The easiest way to return your form is via secure message using your online account.
- Please note this usually takes around 10 days to process.
How can Pension Wise help?
If you have a defined contribution pension scheme and are 50 or over, then you can access free, impartial guidance on your pension options by booking a face to face or telephone appointment with Pension Wise, a service from MoneyHelper.
If you are under 50, you can still access free, impartial help and information about your pensions from MoneyHelper.