If you've taken the income drawdown route you will know that your pension fund remains invested and an income can be taken from it directly - and you should be happy with the risks involved in doing so.
What you may not realise is that you may be able to save thousands of pounds by transferring an existing income drawdown pension from your current provider to our HL Vantage SIPP.
It is highly likely that you have previously had advice. Do you still get that advice or have you taken responsibility yourself? Would you like to take responsibility for your own portfolio in the future? Our Vantage SIPP doesn't charge for advice, but that's not where your savings end.
Many traditional drawdown plans charge high fixed annual fees, often in the region of £500 plus numerous ad-hoc charges which can really add up. Many also fail to give you discounts on the underlying investments you buy within the drawdown plan.
The Vantage SIPP on the other hand offers:
- No transfer-in fee. (A GAD calculation fee of £75 may apply).
- No annual fee from HL for more than 1,700 funds or money held as cash.
- No annual fee for drawing an income.
- No advisory fees because the service is on a non-advisory basis.
Our discounts of up to 5.5% mean you can also save on the initial charges on the majority of funds available.
Find out more about transferring your income drawdown pension
