How Penfold published pension drawdown fees compare against the UK providers we track. Enter your pot size above to see costs for your own pot. Comparison information, not advice.
Ranked 20 of 20 on cost at a £250,000 pot: £1,350 a year (includes fund charges).
Penfold: Default Plan single all-in fee: 0.75% a year on the first £100k and 0.40% on the amount above; no benefits withdrawal fees
The interactive calculator on this page shows yearly costs for your pension pot size and how far each provider sits from the lowest charge. Platform charges assume you hold funds. Some platforms cap charges on shares, ETFs and investment trusts, which can be much lower.
| Rank | Provider | Yearly cost | Fee structure | Fees checked |
|---|---|---|---|---|
| 1 | InvestEngine | £0 | £0 SIPP account fee and £0 dealing; ETF ongoing charges apply | Fees checked 3 Sept 2026 |
| 2 | CMC Invest | £132 | Premium plan £10.99 a month (£131.88 a year) for SIPP access; £0 dealing commission | Fees checked 3 Sept 2026 |
| 3 | Moneybox | £150 | Moneybox funds: 0.15% service fee capped at £150 a year (plus 0.29% fund fee). Other providers’ funds: 0.45% service fee on the first £100k, then 0.15% above (no cap) | Fees checked 23 Sept 2026 |
| 4 | Interactive Investor | £180 | SIPP: Core £5.99/mo (£71.88/yr, pots up to £100k); Plus £14.99/mo (£179.88/yr); Premium £39.99/mo (£479.88/yr). Each price already includes the pension admin fee (£2.50/mo on Core, £6/mo on Plus and Premium) | Fees checked 23 Sept 2026 |
| 5 | Scottish Widows | £198 | 0.25% a year, capped at £16.50/month (£198/year) - Share Dealing SIPP | Fees checked 24 Jun 2026 |
| 6 | Barclays Direct Investing (formerly Smart Investor) | £270 | £0 customer fee; SIPP administration £125 + VAT a year (£150); flexi-access drawdown £100 + VAT a year (£120) plus £75 + VAT set-up | Fees checked 3 Sept 2026 |
| 7 | Vanguard | £375 | 0.15% flat fee (capped at £375 annually; minimum £48 a year, £4 a month, below £32,000) | Fees checked 23 Sept 2026 |
| 8 | IG | £390 | £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 | Fees checked 23 Sept 2026 |
| 9 | EQi | £431 | EQi subscription £4.99/mo under £50k or £10.99/mo at £50k+; SIPP administration £118.80 a year (Platform One); flexi-access drawdown £180 a year (£150 + VAT) | Fees checked 23 Sept 2026 |
| 10 | Fidelity Personal Investing | £500 | 0.35% up to £250k, 0.20% over £250k (minimum £90 a year) | Fees checked 23 Sept 2026 |
| =11 | AJ Bell Youinvest | £625 | 0.25% to £250k, 0.10% £250k–£500k, 0% over £500k (shares & ETFs capped at £10/month) | Fees checked 23 Sept 2026 |
| =11 | Legal & General | £625 | 0.25% service charge a year plus fund charge 0.14%–0.31% (four investment pathway funds; Personal Pension drawdown, not a full SIPP) | Fees checked 23 Sept 2026 |
| 13 | Charles Stanley Direct | £660 | 0.30% flat platform charge (minimum £60, capped at £600 a year); SIPP admin £100+VAT (waived over £30k); drawdown payroll £50+VAT a year; £25+VAT per ad-hoc withdrawal | Fees checked 23 Sept 2026 |
| =14 | Aviva | £875 | 0.35% a year on the first £500,000, with no charge above £500,000 (drawdown included) | Fees checked 23 Sept 2026 |
| =14 | Hargreaves Lansdown | £875 | 0.35% first £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, 0% over £2m (£150 annual cap for shares) | Fees checked 23 Sept 2026 |
| 16 | Bestinvest | £1,000 | 0.40% up to £250k, 0.20% £250k-£500k, 0.10% £500k-£1m, 0% over £1m (minimum £120 a year, £10 a month) | Fees checked 23 Sept 2026 |
| 17 | Standard Life | £1,125 | 0.45% annual charge (Standard Life Personal Pension; plus ~0.10% fund charge), no dealing, switching or exit fees | Fees checked 23 Sept 2026 |
| 18 | PensionBee Includes fund charges |
£1,225 | 0.50%–0.95% depending on plan, halved on the portion over £100k (≈0.70% on a typical plan) | Fees checked 23 Sept 2026 |
| 19 | J.P. Morgan Personal Investing (formerly Nutmeg) Includes investment management |
£1,275 | Fully Managed: 0.75% on the first £100k then 0.35% above (Fixed Allocation: 0.45% then 0.25%) | Fees checked 23 Sept 2026 |
| 20 | Penfold Includes fund charges |
£1,350 | Default Plan single all-in fee: 0.75% a year on the first £100k and 0.40% on the amount above; no benefits withdrawal fees | Fees checked 23 Sept 2026 |
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.