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cost of requesting paper statements must not be more than £40 a yearįees can really cut into your investment returns, so make sure you understand what you are paying.

investment drawdown provider must also not charge more than £30 for a telephone trade, more than £25 for making a CHAPS payment.

no charge for transferring the pension to a competitor.

fee for buying an annuity must not be higher than £90.

the charge for taking your tax-free lump sum must be no more than £100.

provider must not charge more than £120 a year for setting up regular payments.

no additional costs for setting up drawdown.it must also pass a series of other tests, which look at one-off costs:.the cost of investing must be below the median average calculated in our scenario.If the provider only offers either funds or shares (not both), then we assume the full £100,000 is invested in that investment type.įor an income drawdown provider to receive five stars: We assume that investors have £100,000 in their account – with half invested in shares and half in investment funds. no high one-off charges, such as exit fees.lower than average dealing costs for retired investors that buy and sell funds and shares no more than twice a year.All providers are authorised and regulated by the Financial Conduct Authority.Ī top-rated self-invested income drawdown plan will have: The best “self-invested income drawdown”, which refers to taking cash out of a self-invested personal pension (SIPP) while keeping the rest of the money invested.īear in mind that ready-made personal pensions that allow a drawdown facility are not included in these ratings. They are based on in-depth research by the independent consumer group Fairer Finance and look at: 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. AJ 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.

Mutual fund compare tool max drawdown