Comparison website/tool for drawdown costs ?

NoMore

Does anybody know of a site/tool that gives you a comparison of sipp providers drawdown costs?

There's plenty for the accumulation phase but none that I can find that compare the costs for when you decide to move to drawdown.

xylophone

https://www.which.co.uk/money/pensions-and-retirement/options-for-cashing-in-your-pensions/income-drawdown/compare-pension-drawdown-plans-and-charges-ax1628r13rdk

Any help?

Reluctantpensioner

Here: https://forums.moneysavingexpert.com/discussion/5583030/coolly-comparing-investment-platform-charges-snowmans-spreadsheet&highlight=
it's in the "flexible" tab.
Your going to be disappointed how much some of the "cheap" providers charge you to get your money back out.

dunstonh

Does anybody know of a site/tool that gives you a comparison of sipp providers drawdown costs?

No. If there was a free one, advisers would be using it. We have to pay to get it.

Although Snowmans spreadsheet does a pretty good job of many of DIY only providers. It doesnt include any intermediary providers though.

shinytop

xylophone wrote: »

https://www.which.co.uk/money/pensions-and-retirement/options-for-cashing-in-your-pensions/income-drawdown/compare-pension-drawdown-plans-and-charges-ax1628r13rdk

Any help?

I was looking at this last night and it looks helpful. One thing that surprised (shocked?) me was the total amount of the charges (most of which look like fund rather than platform charges). The difference between platforms is significant but a lot less than the totals. One point to note is that in their example scenario, the headline % charge is not the best indicator of the total charge. So for example, HL's 0.45% is the highest but their total isn't.

squirrelpie

The Which comparison is very limited though, since it assumes all the investments are funds. Things are different if some or all are shares or other exchange-traded investments. It also only compares one withdrawal rate. Is the investment rate of return an industry standard one or have they chosen something else?