IG vs Hargreaves Lansdown for drawdown: fees and features compared (2026)
A side-by-side comparison of what IG and Hargreaves Lansdown charge for pension drawdown, and what you get for it. Neither provider is cheaper across the board — which one costs less depends on the size of your pot. The table below shows where each one wins.
Platform charges only.
What each one charges
Provider
Published fee structure
What it covers
Fees checked
IG
£210/year SIPP admin fee plus a yearly drawdown income fee of £240 (monthly), £180 (quarterly) or £150 (twice-yearly or yearly), both via Options UK; £300 per crystallisation; no IG custody fee (removed January 2026). Our cost assumes quarterly income
Platform charge only; fund charges extra
23 Sept 2026
Hargreaves Lansdown
0.35% first £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, 0% over £2m (£150 annual cap for shares)
Platform charge only; fund charges extra
23 Sept 2026
Annual cost by pot size
Pot size
IG
Hargreaves Lansdown
Cheaper
£100,000 pot
£390
£350
Hargreaves Lansdown is cheaper
£250,000 pot
£390
£875
IG is cheaper
£500,000 pot
£390
£1,500
IG is cheaper
Hargreaves Lansdown is cheaper up to about £110k; above that, IG is cheaper (modelled between £10k and £1m).
Fund charges, dealing and withdrawal fees are extra. Platform charges assume you hold funds. Some platforms cap charges on shares, ETFs and investment trusts, which can be much lower. See how we compare.
Features compared
Feature
IG
Hargreaves Lansdown
What the charge covers
Platform charge only; fund charges extra
Platform charge only; fund charges extra
Investment range
13,000+
14,000+
Ready-made portfolios
No
Yes
Regular income payments
No extra charge
No extra charge
One-off withdrawals
£120 each
No charge
UFPLS lump sums
£300 each
No charge
Minimum pot to start drawdown
Not confirmed
Not confirmed
FSCS protected
Yes
Yes
Fees checked
23 Sept 2026
23 Sept 2026
“Not confirmed” means the provider does not publish the figure or we have not yet checked it; it does not mean the charge is zero.
Which suits you?
Choose IG if you…
want the lower platform charge on a £250,000 or £500,000 pot
Choose Hargreaves Lansdown if you…
want the lower platform charge on a £100,000 pot
want ready-made portfolios, which IG does not offer
expect to take one-off withdrawals (Hargreaves Lansdown charges nothing; IG charges £120 each)
plan to take UFPLS lump sums (Hargreaves Lansdown charges nothing; IG charges £300 each)
This is comparison information, not advice.
Free, impartial guidance:Pension Wise offers free appointments to people aged 50 or over with a defined contribution pension, and MoneyHelper’s investment pathways comparison tool compares drawdown providers’ ready-made options. Both are backed by the government.
Pros and cons
IG
Pro: Flat £210 SIPP admin fee
Pro: Exceptional value for large pots
Pro: Wide investment range
Pro: Strong trading platform
Pro: Good mobile experience
Con: Less well-known for pensions
Con: Platform geared towards traders
Con: Options UK charges £150–£240 a year for regular drawdown income, plus £300 each time you crystallise
Con: Less educational content
Con: Better suited to experienced investors
Hargreaves Lansdown
Pro: Best-in-class research and analysis
Pro: Excellent mobile app experience
Pro: Market-leading customer service
Pro: Extensive fund research
Pro: Strong brand trusted by millions
Con: Higher fees than competitors
Con: Expensive for smaller pots
Con: Share dealing charges higher
Con: Can be overwhelming for beginners
Frequently asked questions
Which is cheaper for drawdown, IG or Hargreaves Lansdown?
Neither is cheaper at every pot size we model. Yearly platform charges for IG and Hargreaves Lansdown are £390 and £350 on a £100,000 pot; £390 and £875 on £250,000; and £390 and £1,500 on £500,000. Hargreaves Lansdown is cheaper up to about £110k; above that, IG is cheaper (modelled between £10k and £1m). Fund charges, dealing and withdrawal fees are extra.
What does IG charge for drawdown?
£210/year SIPP admin fee plus a yearly drawdown income fee of £240 (monthly), £180 (quarterly) or £150 (twice-yearly or yearly), both via Options UK; £300 per crystallisation; no IG custody fee (removed January 2026). Our cost assumes quarterly income. Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: £120 each. UFPLS lump sums: £300 each. We last checked these fees on 23 September 2026.
What does Hargreaves Lansdown charge for drawdown?
0.35% first £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, 0% over £2m (£150 annual cap for shares). Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: no charge. UFPLS lump sums: no charge. We last checked these fees on 23 September 2026.
What can I invest in with IG and Hargreaves Lansdown?
IG: 13,000+, with no ready-made portfolios. Hargreaves Lansdown: 14,000+, including ready-made portfolios.
How do customers rate IG and Hargreaves Lansdown?
IG has a Trustpilot score of 3.8 out of 5 (checked 8 September 2026). Hargreaves Lansdown has a Trustpilot score of 4.4 out of 5 (checked 8 September 2026). Scores change over time, and they do not affect our cost comparison.
How do I choose between IG and Hargreaves Lansdown?
Start with the yearly cost at your own pot size, then check what you want to hold, how you plan to take income and whether you want ready-made portfolios. This page is comparison information, not advice. Free, impartial guidance on your options is available from MoneyHelper's Pension Wise service.