Aviva Sipp and drawdown

Durban

Does anyone know what the Aviva Sipp and drawdown is like please? Its charges appear lower than HL.


Many thanks

dunstonh

Does anyone know what the Aviva Sipp and drawdown is like please

Since they moved to FNZ, it is actually very good. Not unexpected as the FNZ software is mature and reliable. Aviva only have to control the front end. And their front end is coded better than many of the FNZ based platforms. It has its quirks, like all platforms, and it had issues during the conversion which are largely over now.

It supports all drawdown options.

Its charges appear lower than HL.

I think you have missed a big factor though. Yes, Aviva typically comes in cheaper in the 0.2x% range. However, it is an intermediary provider. i.e. you would need an IFA. The IFA will have their charges. HL is a DIY provider. You are not comparing like for like.

zagfles

dunstonh wrote: »

Since they moved to FNZ, it is actually very good. Not unexpected as the FNZ software is mature and reliable. Aviva only have to control the front end. And their front end is coded better than many of the FNZ based platforms. It has its quirks, like all platforms, and it had issues during the conversion which are largely over now.

It supports all drawdown options.



I think you have missed a big factor though. Yes, Aviva typically comes in cheaper in the 0.2x% range. However, it is an intermediary provider. i.e. you would need an IFA. The IFA will have their charges. HL is a DIY provider. You are not comparing like for like.

That's what I thought, but this page would appear to imply they don't require an adviser https://www.direct.aviva.co.uk/myfuture/Product/Transfer/Drawdown

DrHyde

Aviva like others are _selling_ their products through advisers or employers but of course you can ditch an ifa or employer and remain with the SIPP.
IMO, HL is far too expensive for what they offer (no wonder their shareholders are happy) and there's better options out there. Don't know enough about Aviva but it is true that low costs are important for your success

Durban

Thank you for the replies.

My husband already has a stakeholder pension with them , and, when the time is right , in the next year or is going to move it into a Sipp.

From reading , it appears that he doesn’t neeed to have an IFA to do this, and so would make the charges and ease of moving fairly competitive ?

Albermarle

I think the issue with Aviva is that they do not sell personal/stakeholder pensions direct to the public anymore .
However you can open a sipp with them and have access to drawdown.
Platform charge is around 0.4% - no charges for drawdown ( needs double checking ) , not sure about fund choice /cost

dunstonh

zagfles wrote: »

That's what I thought, but this page would appear to imply they don't require an adviser https://www.direct.aviva.co.uk/myfuture/Product/Transfer/Drawdown

That is strange. Especially as we have also had recent posters say Aviva wont do it non-advised.

The charges on that particular Aviva option are more expensive than the adviser version and for DIY investors, there are cheaper DIY pensions.