Moneybox Expands Retirement Offering as It Launches New Pension Drawdown Service

Moneybox, the award-winning wealth management platform, has today announced the launch of pension drawdown for its Personal Pension customers, enabling them to take flexible withdrawals in retirement while keeping the remainder of their pension invested. 

Moneybox offers a full suite of saving, investing, homebuying and retirement products, including Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and a Self-Invested Personal Pension (SIPP). The business supports more than 1.8 million customers and administers over £22 billion in assets. 

The launch of pension drawdown introduces what has been the most requested feature among Moneybox pension customers and follows a landmark year for the business. In its recently published 2025 Annual Report, Moneybox revealed that assets under administration grew 62% year-on-year, while customer numbers increased by 31%, and annual net inflows reached £6.4 billion.

The launch forms part of Moneybox’s continued enhancement of its retirement offering over the last 12-months, including the introduction of its Moneybox-branded investment funds in partnership with Amundi. The launch of those funds helped create one of the most competitively priced personal pensions on the market, with fund charges capped at 0.29% and Moneybox’s service fee capped at £150 per year.

Pension drawdown allows customers to access their retirement savings through regular income payments or one-off lump sum withdrawals while leaving the remainder invested, providing the potential for continued growth throughout retirement.

Alongside drawdown, customers can now also manage their Personal Pension through Moneybox’s desktop experience as well as its award-winning mobile app.

Jay Swanston, Chief Platform Officer at Moneybox, said: “Drawdown has been the most requested feature from our pension customers, so we’re incredibly excited to launch it today.

“People increasingly want greater flexibility over how they access their retirement savings. Whether that’s taking a regular income, withdrawing money for a significant life event, or leaving more of their pension invested for longer, drawdown gives customers more control over the money they’ve spent decades building.

“This launch is another important step in our ambition to become a lifelong wealth partner for our customers. Following a record year for Moneybox and significant investment in our pension proposition, we’re now helping customers not only build and consolidate their retirement savings, but access them flexibly when the time comes.”

Key features

• Regular income withdrawals and one-off lump sum withdrawals.

• Remaining pension savings stay invested, with the potential for continued growth.

• A phased drawdown structure designed to preserve future tax-free cash entitlement.

• Available through both the Moneybox app and desktop platform.

• Integrated with Moneybox’s pension consolidation and retirement planning experience.

The launch builds on Moneybox’s long-term investment in retirement products. Since becoming the first investment platform in the UK to offer a pension via an app in 2019, the company has continued to expand its pension offering through pension consolidation, bringing trusteeship in-house, launching its own investment funds and now introducing flexible retirement income options.

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