One of the two ways in which a member of a defined contribution arrangement under a registered pension scheme can take drawdown pension (the other being a short-term annuity). Income withdrawal allows the member to draw an annual income while leaving the remainder of their fund invested. The member must have reached normal minimum pension age or meet the ill-health condition. From 6 April 2015, the member may either designate funds to a flexi-access drawdown fund or to an existing capped drawdown fund established before 6 April 2015. (Paragraph 7, Schedule 28, Finance Act 2004.)