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Best drawdown funds12/10/2023 ![]() A further platform charge reduction to 0.05% on the balance of fund holdings above £1m.A further platform charge reduction to 0.15% on the balance of fund holdings above £500,000.A platform charge reduction to 0.20% on the balance of fund holdings above £250,000.There is also a payroll charge for taking annual income from the Sipp of £60, or £30 for one withdrawal, and a Sipp admin charge of £120 if you've less than £30,000 in your Sipp.Ĭharles Stanley Direct's Sipp charges a percentage fee in tiers. When you move into drawdown you'll pay a Benefit Crystallisation Event fee of £180. The bigger the pension, the lower the fee charged on all the money you hold.Ĭharles Stanley Direct pension drawdown: fees and charges Bestinvest pension drawdown: fees and chargesīestinvest's Sipp charges a percentage fee in tiers. There is an annual Sipp fee of £150 (levied by AJ Bell) and drawdown fee of £120.īarclay Smart Investor's Sipp charges a single percentage fee on your entire pension pot. There are no charges for drawdown set-up and income withdrawals.Īviva's OIS product charges a percentage fee in tiers.īarclays Smart Investor pension drawdown: fees and charges Next £150,000 (£100,000 to £249,999.99) - 0.45%ĪJ Bell Youinvest pension drawdown: fees and chargesĪJ Bell Youinvest's Sipp charges a percentage fee in tiers.It works a bit like income tax bands - each percentage fee applies to different amounts held in the Sipp, rather than a single percentage fee applied your entire pension.Īegon has a £75 annual charge covering administration of drawdown, whether you take regular or ad hoc payments.Īegon's Retirement Choice drawdown plan charges a percentage fee in tiers. There is an annual Sipp admin fee of £75.Īdvance's Retirement Account charges a percentage fee in tiers. 'MT' a master trust and 'OPC' an online pensions company.Īdvance by Embark pension drawdown: fees and charges 'L&P' is a life and pensions company, 'wrap' a wrap platform. These figures are for core fees (Sipp admin, drawdown and platform charges) and were correct as of July 2023. The different types of company that offer drawdown.We've combed through the charges levied by 27 providers of pension drawdown - the most comprehensive analysis you can find. The alternative tiered structure works on a 'whole fund' basis, with a charge at one rate, which will vary depending on the plan's overall value. Some providers have an 'income tax band' system, where, say, the first £50,000 of your pot has a fee of 0.45%, with the next £150,000 incurring a charge of 0.4% and so on. Where percentage product or platform charges are levied in tiers according to the value of your fund, there are two different approaches. ![]() Some companies charge flat annual fees, while others charge a percentage fee based on the amount you have in your pension. You will also need to pay charges for the investments you select in your drawdown pension plan.
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