DC Pension Transfer

Albert0500

Lightsight will charge me .037 per thousand pounds per month, Royal London charge 0.33 per thousand, both for drawdown 

seems RL require me to take advice, given advice is about 1% of transfer value seems no point.

unless I've totally got the wrong end of this.

Albermarle

Albert0500 said:

Lightsight will charge me .037 per thousand pounds per month, Royal London charge 0.33 per thousand, both for drawdown 

seems RL require me to take advice, given advice is about 1% of transfer value seems no point.

unless I've totally got the wrong end of this.

No probably not.
Some pension providers only deal with financial advisors and some only deal with the public direct. ( some offer both services separately) . RL are a bit unusual, in that for certain things ( like 'big' decisions, like transfers) they seems to insist on a financial advisor being involved, but for day to day things they seem happy to deal directly with the clients.

With regard to charges some providers have two charges . One for pension/platform administration  and one for the investment funds. The latter charge is taken directly out of the fund so you do not see it clearly.
Some providers just charge one all in charge.

Somebody

I transferred 2 DC pots (1 was a contracted out scheme) to my RL workplace pension at the time via the IFA who set up the scheme for the company, and it cost me £250 for each transfer which were taken from the fund.  For me it was worth it for the savings in ongoing charges which were 0.747% and 1.579% vs 0.29% for RL.