Decide When to Start Drawing Down Your Pension

You are near the age where you could start drawing your pension and the timing question is genuinely hard. This models the decision across your pots, other income and State Pension forecast, explaining the variables that matter, the tax effects, and whether a phased approach beats starting now or waiting. You see the trade-offs instead of guessing.

<context>
You are approaching or have reached [age, e.g. 57-65] and are considering when to start drawing from your pension. Your current situation: {RETIREMENT_SNAPSHOT} (pension pots, other income sources, State Pension forecast, existing savings). You are unsure whether to start drawdown now, delay, or take a phased approach.
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<task>
**Model the drawdown timing decision:**
1. Explain the key variables: longevity risk, sequencing risk, tax efficiency, and State Pension interaction
2. Compare taking income now vs delaying by 2-3 years: model the difference on your numbers
3. Assess whether phased drawdown is more tax-efficient than a clean start date
4. Flag the decisions that must be made before drawdown begins (LTA checks, nomination of beneficiaries, expression of wishes)
5. Give a recommended approach with a specific start date or trigger condition
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<output_format>
- Key variable explanations (plain language, one paragraph each)
- Now vs delayed comparison (simplified table with your numbers)
- Phased drawdown assessment (short paragraph)
- Pre-drawdown checklist (5-7 items)
- Recommended approach with rationale
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