Drawdown not available

[RobertT]

It's more a case of the RMDCP being a product that doesn't offer drawdown – SW as a pension company do!
So it may be possible to transfer to a SW product that does offer it?
Otherwise, there's plenty of alternatives.

If you have a DC pension with a guaranteed annuity rate, that is classed as a 'safeguarded benefit', and you will often be required to take regulated advice if you want to transfer it.
https://www.reassure.co.uk/pensions/saf ... -benefits/

[yellowbelly]

Thanks for all the input

Hi rb, when you get a definitive answer whether RMDCP (SW) allow drawdown directly from them can you post it on here pls?

They don't offer drawdown but have been advised to speak to someone at Scottish widows be referred to the hub which I assume will be backed by scottish widows with a lot more choice. Have enquired through Hargreaves Lansdown, AJ Bell, L&G, LV and a few others. All seem to be fairly equal in quotes and offer drawdown for shorter periods which is ideal for me. Don't really want to incur advisory fees as I know exactly what I want to do. My problem is I have another pension with a guaranteed annuity which I know won't be using and just want to transfer them both and start drawdown. It seems they bias it towards taking advice so you do end up paying for their services.

Thanks for the info rb.