How long does it take for drawdown payments to reach a clients' bank account after instructing a withdrawal?

Regular Flexi Access Drawdown (FAD) and Uncrystallised Funds Pension Lump Sums (UFPLS) payments require at least 6 working days between the date of submission and the selected payment date for it to be processed in the same month. For example, if a payment is set up for the 7th July on the 3rd July, the first payment will be on 7th August because the 7th July date is within 6 working days.

Single FAD and UFPLS payments will be processed 6 working days following submission on the platform. If there is sufficient cash available, payment will be made at the next available payment date (1st, 7th, 14th, 21st or 28th) via BACs and will be with the client within 5 working days. If investment sales are required to generate cash, the trades will be requested once the single FAD payment request is submitted. Once the trades have settled and cash is available, payment will be made following the same process.

Pension Commencement Lump Sum requests will be processed once submitted on the platform. If there is sufficient cash available, payment will be made immediately via BACs and will be with the client within 5 working days. If investment sales are required to generate cash, the trades will be requested once submitted. Once they have settled, the BACs payment will be made.