Drawdown Pension. who would you recommend?

artyboy

mot2024 said:

dunstonh said:

my thought was to move both policies into a new one with aviva which would be a drawdown pension. 

I don't particularly like Aviva's software.   They are also not the best value (there are other providers that use the same software as Aviva but have better configuration and better front ends and have lower charges).     But software and configuration may not matter to you in the same way it does me.

I have a personal view that if you are going to DIY you are better off using a provider focused on the DIY market.  Not one that predominantly deals with intermediaries.

which ones are focused on DIY?

The ones I referenced in my post, for starters. I have use or am using all of those right now. Can't comment on relative drawdown ease of use though as I'm not yet at that point...

Albermarle

mot2024 said:

dunstonh said:

my thought was to move both policies into a new one with aviva which would be a drawdown pension. 

I don't particularly like Aviva's software.   They are also not the best value (there are other providers that use the same software as Aviva but have better configuration and better front ends and have lower charges).     But software and configuration may not matter to you in the same way it does me.

I have a personal view that if you are going to DIY you are better off using a provider focused on the DIY market.  Not one that predominantly deals with intermediaries.

which ones are focused on DIY?

The ones already mentioned plus you could also look at Fidelity and Vanguard.

However none of them offer 'with profits' funds. So you would have to decide how to invest the cash when it was transferred.
You could try speaking To Aviva to see what withdrawal options would be possible for your current pension.
The problem is Aviva have taken over other pension companies in the past and so they have lots of different rules for different pensions.

mot2024

Albermarle said:

mot2024 said:

dunstonh said:

my thought was to move both policies into a new one with aviva which would be a drawdown pension. 

I don't particularly like Aviva's software.   They are also not the best value (there are other providers that use the same software as Aviva but have better configuration and better front ends and have lower charges).     But software and configuration may not matter to you in the same way it does me.

I have a personal view that if you are going to DIY you are better off using a provider focused on the DIY market.  Not one that predominantly deals with intermediaries.

which ones are focused on DIY?

The ones already mentioned plus you could also look at Fidelity and Vanguard.

However none of them offer 'with profits' funds. So you would have to decide how to invest the cash when it was transferred.
You could try speaking To Aviva to see what withdrawal options would be possible for your current pension.
The problem is Aviva have taken over other pension companies in the past and so they have lots of different rules for different pensions.

Yes i realise with profits is a thing of the past which is why i want to move them to one place

BoxerfanUK

My OH opened a SIPP with Interactive Investor(ii) in February and transferred in 2x workplace DC pensions (one with profits).  All told the process was fairly smooth and she qualified for £1500 cashback which is paid after 12 months.  Have to say quite impressed with ii, customer service very good, they always respond to telephone calls and secure messages quickly.  They have a phone app as well as desktop access.  Don't charge for drawdown (monthly FAD or UFPLS)  Platform fee fixed at £12.99 per month and based on our limited experience would recommend them.

sgx2000

Possibly a better original question would have been....
'Are you currently in drawdown,  with who,  and what was the process like?''
Possibly also..
'What is your providers software like.... how easy to use or make changes?'

stulaunch

I had an old Scottish Widows with profits pension. It had a GAR attached to it at just under 10%. Have you checked yours?

mot2024

stulaunch said:

I had an old Scottish Widows with profits pension. It had a GAR attached to it at just under 10%. Have you checked yours?

what is GAR

xylophone

what is GAR

Guaranteed Annuity Rate.

https://www.moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/guaranteed-annuity-rates#:~:text=A guaranteed annuity rate is,higher than rates available today.