Standard Life vs Aviva for drawdown: fees and features compared (2026)
A side-by-side comparison of what Standard Life and Aviva charge for pension drawdown, and what you get for it. On published charges alone, Aviva works out cheaper at all three pot sizes modelled below.
Platform charges only.
What each one charges
Provider
Published fee structure
What it covers
Fees checked
Standard Life
0.45% annual charge (Standard Life Personal Pension; plus ~0.10% fund charge), no dealing, switching or exit fees
Platform charge only; fund charges extra
23 Sept 2026
Aviva
0.35% a year on the first £500,000, with no charge above £500,000 (drawdown included)
Platform charge only; fund charges extra
23 Sept 2026
Annual cost by pot size
Pot size
Standard Life
Aviva
Cheaper
£100,000 pot
£450
£350
Aviva is cheaper
£250,000 pot
£1,125
£875
Aviva is cheaper
£500,000 pot
£2,250
£1,750
Aviva is cheaper
Aviva is cheaper than Standard Life at every pot size 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
Standard Life
Aviva
What the charge covers
Platform charge only; fund charges extra
Platform charge only; fund charges extra
Investment range
1,000+
2,000+
Ready-made portfolios
Yes
Yes
Regular income payments
No extra charge
No extra charge
One-off withdrawals
No charge
No charge
UFPLS lump sums
No charge
Not confirmed
Minimum pot to start drawdown
Not confirmed
£5,000
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 Standard Life if you…
On the facts we hold, nothing stands out in Standard Life’s favour; check the tables above against what matters to you.
Choose Aviva if you…
want the lower platform charge at every pot size we model (£100,000 to £500,000)
want a wider choice of investments (2,000+ against 1,000+)
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
Standard Life
Pro: Simple, transparent 0.45% charge
Pro: No dealing, exit or switching fees
Pro: Strong brand heritage (since 1825)
Pro: Backed by Standard Life plc
Pro: Established drawdown provider
Con: 0.45% pricier than the cheapest platforms for large pots
Con: Fund choice narrower than a full SIPP
Con: Primarily fund-based investing
Con: Better-value rivals exist for big pots
Con: Often arranged through an adviser
Aviva
Pro: Major UK provider
Pro: No setup, switch or exit charges
Pro: Charge capped at £1,750 a year
Pro: Wide fund range plus shares and ETFs
Pro: Available direct from £25/month
Con: Pricier than the cheapest platforms for small pots
Con: Fund range narrower than whole-of-market brokers
Con: Platform less slick than specialist DIY brokers
Con: Better known for insurance than investing
Con: 0% tier only applies above £500,000
Frequently asked questions
Which is cheaper for drawdown, Standard Life or Aviva?
Aviva is cheaper at all three pot sizes we model. Yearly platform charges for Standard Life and Aviva are £450 and £350 on a £100,000 pot; £1,125 and £875 on £250,000; and £2,250 and £1,750 on £500,000. Aviva is cheaper than Standard Life at every pot size between £10k and £1m. Fund charges, dealing and withdrawal fees are extra.
What does Standard Life charge for drawdown?
0.45% annual charge (Standard Life Personal Pension; plus ~0.10% fund charge), no dealing, switching or exit fees. 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 does Aviva charge for drawdown?
0.35% a year on the first £500,000, with no charge above £500,000 (drawdown included). Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: no charge. UFPLS lump sums: not confirmed. We last checked these fees on 23 September 2026.
What can I invest in with Standard Life and Aviva?
Standard Life: 1,000+, including ready-made portfolios. Aviva: 2,000+, including ready-made portfolios.
How do customers rate Standard Life and Aviva?
Standard Life has a Trustpilot score of 3.2 out of 5 (checked 8 September 2026). Aviva has a Trustpilot score of 4.3 out of 5 (checked 8 September 2026). Scores change over time, and they do not affect our cost comparison.
How do I choose between Standard Life and Aviva?
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.