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Before the “Pension Freedom” changes, capped drawdown was the predecessor to flexi-access drawdown. Capped drawdown has limits on the amount of income you can take out. Whereas flexi-access drawdown gives people more flexibility when drawing an income, with no limit on how much income you can choose to take from your drawdown funds.
The value of pensions can fall as well as rise, you may get back less than you invested.
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