7 tips to compare drawdown providers
By Kirsten Hastings, 19 Feb 18
The number of providers offering drawdown has gone up since the pension vehicle was first introduced in the UK in 1995, but differences in quality of service and charges can be substantial, warns Hargreaves Lansdown, which has offered seven tips to compare providers.
2. Be clear on charges
Charges will vary from one provider to the next, not only in range but also in number. Some might apply fees for setting up drawdown, others for buying and selling investments, taking money out or even changing how much income you want to take.
Charges will reduce your pension’s value over time. So, make sure you check all costs applied.
Tags: Drawdown | Hargreaves Lansdown
