Alternatively Secured Pension (ASP)
If you have selected a drawdown this must end at age 75, or perhaps you are only now retiring. The ASP is a more tightly defined version of the drawdown plan. You must now take at least a defined minimum level of income, and the maximum is set by a different formula.
But the funds can remain invested with exactly the same choices as for the drawdown plan.
On death with dependents then the plan can continue for the dependents.
But on their eventual death or on your death without dependent your remaining family beneficiaries will see little of any remaining funds – they will be extortionately taxed. But no tax will be levied if you specify that a charity is to be the beneficiary.