![]() ![]() '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 August 2022. 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. dealing commission to trade funds and shares.You may incur five or six separate types of fee each year depending on the provider you choose. One of the major barriers to a straightforward comparison of costs is the fact that companies have very different charging structures. Your data will be processed in accordance with our Privacy policy How do pension drawdown charges work? This newsletter delivers free money-related content, along with other information about Which? Group products and services. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |