What is Pension Drawdown?

Best Drawdown Pension Providers

1. Hargreaves Lansdown

• No setup or drawdown administration fees.
• Platform fee of up to 0.45% per annum.
• Fund fees vary based on investment choice (~0.15 - 0.30% per annum).

• Over 2,500 investment options including shares, investment trusts, and funds.
• Flexibility to fully manage investments with straightforward guidance.

• Dedicated drawdown specialist team.
• Virtual support available online and over the phone.
• In-person support at their nationwide offices.

• User-friendly website with a range of useful tools and resources.
• Comprehensive mobile app offering access to your pension account.
• Share research and regular market updates.

• High ratings on review platforms such as Trustpilot.
• Customers appreciate the responsive customer service and efficient platform.

2. AJ Bell Youinvest

• Drawdown setup fee of £75.
• Annual drawdown administration fee starting from £25.
• Platform fee of up to 0.25% per annum.
• Dealing charges vary depending on investment choice.

• Over 2,000 investment options including shares, investment trusts, funds, and ETFs.
• Portfolio and investment guidance available.

• Telephone and email support available.
• Online FAQ section for general queries.

• Straightforward online platform for monitoring investments.
• Mobile app with similar features to the online platform.
• Investment research, newsletters, articles, and videos available.

• Positive ratings on review platforms.
• Customers appreciate the low-cost platform and investment choice.

3. Fidelity International

• No setup or drawdown administration fees.
• Platform fee of up to 0.35% per annum.
• Fund fees vary based on investment choice (~0.15 - 0.30% per annum).

• More than 3,000 investment options including shares, investment trusts, and funds.
• Detailed guidance and investment tools offered.

• Telephone support available during extended business hours.
• Online support tools available.

• Intuitive online platform providing an overview of investments.
• Mobile app available, offering instant access to your pension account.
• Regular investment insights and market updates.

• Good ratings on review platforms.
• Customers appreciate the wide range of investment options and informative resources.

4. Interactive Investor

• No setup or drawdown administration fees for the core service.
• Monthly platform fee of £9.99.
• Flat rate of £7.99 per trade for investing in shares, ETFs, and investment trusts.

• Extensive range of over 40,000 investment options.
• Expert investment guidance and tools available.

• Telephone support available during trading hours and weekends.
• Interactive Investor community to discuss investments and connect with investors.

• Customizable dashboard for tracking your investments.
• Detailed research and data tools for analyzing your choices.
• Weekly investment newsletter available.

• Mixed reviews on customer service and platform ease-of-use.
• Users appreciate the wealth of investment options.

5. Vanguard

• No setup or drawdown administration fees.
• Platform fee of up to 0.15% per annum.
• Fund fees range between 0.20 - 0.80% per annum.

• Offers access to Vanguard's range of low-cost funds.
• Limited investment options compared to other providers.

• Telephone and email support available during business hours.
• Online FAQ section for general inquiries.

• Basic, clean interface for managing your investments.
• No Vanguard mobile app available for pensions.
• Insightful articles and resources accessible on their website.

• Positive reviews for customer service and investment options.
• Users enjoy the lower-cost platform and straightforward structure.

How to Choose the Best Drawdown Pension Provider

• Costs: Compare setup fees, annual drawdown fees, platform fees, and fund fees.
  
• Investment Choices: Evaluate the range of funds, shares, ETFs, and investment trusts available.
  
• Support: Look for dedicated drawdown teams, telephone support, and online resources.
  
• Online Functionality: Consider the usability of the provider's online platform and mobile app.
  
• Customer Feedback: Read reviews to gauge customer satisfaction and the provider's reputation.
  

Final Thoughts