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Drawdown factsheet

Our free factsheet gives you more information about the benefits of income drawdown and our competitive pricing.

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Drawdown charges

How much does income drawdown cost?

We aim to give you exceptional value for money with some of the lowest income drawdown charges available on the UK pension market, along with annual service charges of just 0.3% or less for our multi-award winning Best SIPP. We know that your retirement is likely to last a number of decades regardless of how you take an income from your pension, so our lower fees mean you could have more money available to enjoy in later life.

Our low-cost SIPP service charges

If you take a flexible income through pension drawdown with the Best SIPP, you also get great value for money with tiered annual management charges.

From £0-£250,000 0.3% p.a.
£250,000-£1,000,000 0.2% p.a.
Over £1 million No charge
Cash on account No charge

More details of our Best SIPP fees and charges

New income drawdown charges

With no minimum income requirements, pension drawdown has now become a much more attractive option for many savers approaching retirement. We know that fees have the potential to eat away at your returns over the long term, which is why we have released new drawdown pricing for the Best SIPP.

Setup fees

Fee type

Fee (ex. VAT)
SIPPs valued at £100k or greater (after tax-free cash)**

Fee(ex. VAT)
SIPPs valued below £100k (after tax-free cash)**

Is VAT Payable?

When is fee due?

Set-up fee flexible drawdown

£0

£0

yes

When actioned

Initial calculation fee

£90

£100

yes

When actioned

Annual charge for income payments (after tax-free cash)

£0

£100

yes

When actioned

Ad hoc income payments

£25

£25

yes

When actioned

Alteration of payment amount or frequency

£25

£25

yes

When actioned

Annuity purchase through Bestinvest

£75

£75

yes

When actioned

Annuity purchase (external)

£150

£150

yes

When actioned

Arranging death benefit

At cost

At cost

yes

When actioned

Pension splitting on divorce

At cost

At cost

yes

When actioned

Refund of overpaid contributions

£75

£75

yes

When actioned

Drawdown Valuation

£0

£3 per line of stock

yes

When actioned

Closure fees

Closure fees*** Fee (ex. VAT)
SIPPs valued at £100k or greater (after tax-free cash)**
Fee (ex. VAT)
SIPPs valued below £100k (after tax-free cash)**
Is VAT Payable? When is fee due?
If closed within 1 year £290 £290 Yes When actioned
If closed within 2 years £175 £175 Yes When actioned
Thereafter Free Free Yes When actioned

Other charges may apply, including for transferring assets to another provider. See our Key Facts and Costs document for more information.

The decision to access your pension is an important one and will affect your income and possibly your standard of living for years to come. Therefore we recommend that before any decision is made you receive regulated financial advice or get free guidance from Pension Wise. Find out more about Pension Wise.

*We operate a tiered annual management fee structure. Other fees apply.

** Where clients have entered drawdown prior to 6 April 2015, the new drawdown charging structure will still apply from 6 April 2015 for accounts valued at £100k or greater (after tax-free cash) at the point of crystalisation.

*** Drawdown closure fees are only payable if your SIPP is closed due to withdrawing all of the funds whilst utilising drawdown.  Standard closure fees will apply if you transfer your SIPP to an alternative provider whilst in drawdown. Find out more in our Key Facts and Costs document.

OUR AWARDS

Past performance is not a reliable indicator of future returns

The value of your investment can go down as well as up, and you can get back less than you originally invested.

The Bestinvest Online Investment Service, including any account analysis and investment reports provided by our guidance services, is an online execution-only dealing service for investors who want to make their own investment decisions. It does not provide advice on the suitability of products and investments; if you are unsure about the suitability of any investment you should seek professional advice. Clients of our Investment Advisory Service and Managed Portfolio Service can use the website to obtain current valuations of their investments but cannot trade on these accounts online and should call their adviser if they wish to discuss changes to their investments.

Past performance or any yields quoted should not be considered reliable indicators of future returns. Restricted advice can be provided as part of other services offered by Bestinvest, upon request and on a fee basis. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

Issued by Bestinvest (Brokers) Limited (Reg. No. 2830297), which is authorised and regulated by the Financial Conduct Authority. Financial services are provided by Bestinvest (Brokers) Limited and other companies in the Tilney Bestinvest Group, further details of which are available here. This site is for UK investors only.
© Tilney Bestinvest Group Ltd 2016.

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