To cap it all ......SIPPS.

SallyG

http://www.professionaladviser.com/professional-adviser/opinion/2383735/why-labour-is-right-to-threaten-a-cap-on-drawdown-fees

"But there remain dark pools where the light of reform has not shone, and the management of much of the money currently being drawn from self-invested personal pensions (SIPPs) is the darkest.
It is quite common to find layers of fees being charged to member accounts that reduce the capital reservoir by 4% a year.
The maximum Government Actuary's Department (GAD) limit for a 65 year old is around 5.5%. Even taking into account the charges built into GAD numbers, many SIPPs are creaming off in charges well over half the income that can be safely be paid to SIPP holders...."

"charges built into GAD numbers," - what does this mean?

jamesd

It's worth noting that this is not about DIY SIPPS: "advised drawdown where over half the income is dissipated in charges, people are choosing to pay the tax and be done with us. SIPPs sit in the last chance saloon, some are well managed at a proper price - many aren't."

Thrugelmir

Henry Tapper seems to do pretty well through First Acturial.

Record profits with turnover up from £12.5m to £14m

Interesting spin of the original article as well. Headline is at the very least misleading.

http://henrytapper.com/2014/11/24/labours-drawdown-cap-right-idea-wrong-execution/