![]() Our star ratings are designed to help you choose a cost-efficient SIPP for setting up and using income drawdown. £90 charge for customers adding pension funds to their drawdown account How we rate them The SIPP allows trading in shares, funds, investment trusts and ETFs It also charges a £180 fee for buying an annuity. The provider misses out on five stars because of it charges a £90 fee for adding pension funds to your drawdown account. Top-rated pension drawdown providersĪJ Bell’s self-invested pension plan has been awarded a five-star rating from Times Money mentor, but it gets four stars for its drawdown product. We go into lots more detail in our guide on pension drawdown. But you need to be clued up and disciplined to ensure you don’t withdraw too much, or invest it badly, and run out of money in retirement. Pension drawdown offers more flexibility and control over your pension savings. Pension freedom rules introduced in April 2015 allow people aged 55 and over to take money from their pension, rather than buying an annuity, which provides you with a guaranteed income for life. ![]() Read more: How do I use pension drawdown to access tax-free cash? What is pension drawdown? This article may contain affiliate links that can earn us revenue* Drawdown is a way of taking money from your pension pot. How do we rate pension drawdown providers?.Who are the top pension drawdown providers?.We explain how pension drawdown works and outline our top pick of providers below. Pension drawdown lets you take a regular income from your pension pot while the rest of your fund continues to grow.
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