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Your options at retirement

Download our free guide to find out more about drawdown, annuities, lump sum withdrawals and how we can help you make the right choice.

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Our fees and charges

Exceptional value for drawdown with the Best SIPP

Regardless of how you take an income from your pension, your retirement is likely to last a number of decades – over which you could lose a significant amount of money if your provider’s fees are too high. At Bestinvest we aim to give you exceptional value for money by offering a comprehensive range of retirement solutions with some of the lowest charges available on the UK market, including annual management charges of 0.3% or less* for our award-winning Best SIPP.

Our low-cost SIPP service charges

For people who are staying invested or taking an income through drawdown when they reach retirement, our award-winning Best SIPP gives you great value for money with tiered annual management fees.

Ongoing SIPP service fees

From £0-£250,000

0.30% pa

£250,000-£1,000,000

0.20% pa

Over £1m

No charge

Cash on account

No charge

More information on the Best SIPP charges

Drawdown fees and charges

Many people choose drawdown for the freedom that it gives you when taking an income in retirement. If you want to take advantage of this flexibility, you could benefit from our low costs for setting up drawdown and making changes to your payments.

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

Trivial payment charge*

N/A

£150

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

*Triviality can apply if your SIPP is valued at less than £30,000. Please contact us on 020 7189 9999 if this could apply to you.

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.

How much could you pay? Call us on 020 7129 9999 or

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Important 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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