When the time comes to access your pension pot the Prudential Retirement Account gives you the freedom to choose how you take your money.
You can take a single lump sum or series of small lump sums from the Pension Savings Account without the need to transfer into a drawdown product. The first 25% of your lump sum, whether a single lump sum or a series of smaller ones, is usually tax free, the remainder is taxed along with any other income you might have.
If you want a flexible regular income you can move your pension pot to the Pension Income Account. Here you can set a regular income and keep the option to take lump sums as and when you need.
You can usually take up to 25% as a tax-free lump sum, but you need to do this at the start. The remainder is taxed along with any other income you might have.