SIPPS and Drawdown v Annuity..my view

TRUSt_NO_1_2

SIPPs are transparent.

With a SIPP I make the investment decisions. I can see all the fees. If I make a bad investment ..it's down to me. If I make a good investment decision I win...and just me.

If the SIPP fees go up unreasonably, I can move the SIPP to another provider immediately...easily.

I can, at the click of a mouse, see exactly how much my fund is worth.

My strategy is to try to remove as many 'middle men' as possible..so I also invest in shares only. When the derivatives market go belly up funds etc (like Northern Rock) will be fried.
Personally I am investing on the Canadian TSX.I was going to use Sippdeal (which would have been the cheapest), but the market maker (middle man) was absolutely screwing me on the exchange rates each time I traded.
So I moved to TD Waterhouse, whose trading website is fantastic and have the best exchange rates going...but that is more suited to my specific needs.
If I was trading on FTSE I would probably have stayed with Sippdeal.

Drawdown v Annuity

Annuity=I give all my money to someone and he gives it me back in dribs and drabs.
If I die after 1 year, my family would probably not see much of it.

Drawdown= I keep nearly all of my money and carry on investing but take some of it in dribs and drabs.
If I die after 1 year my family get all of it as a lump sum less 33% tax.

For me it is that simple.