Understanding drawdown fees is crucial — even a 0.5% difference in annual charges can cost you thousands over retirement. Use the calculator on this page to compare total costs.
Twenty-one UK pension drawdown providers, with their published platform fee structures. The interactive calculator on this page applies these fees to your specific pot size to produce a like-for-like annual cost.
| Provider | Headline fee structure |
|---|---|
| Vanguard | 0.15% flat fee (capped at £375 annually) |
| Interactive Investor | Tiered flat monthly fee: Core £5.99/mo, Plus £14.99/mo, Premium £39.99/mo |
| AJ Bell Youinvest | 0.25% on first £250k, 0.10% on next £250k, 0% over £500k |
| Hargreaves Lansdown | 0.35% first £250k, 0.25% £250k–£1m, 0.10% £1m–£2m, 0% over £2m |
| Fidelity Personal Investing | 0.35% up to £250k, 0.20% over £250k |
| Bestinvest | 0.40% up to £250k, 0.20% £250k–£500k, 0.10% £500k–£1m, 0% over £1m |
| Charles Stanley Direct | 0.30% flat platform charge (minimum £60, capped at £600 a year) |
| PensionBee | 0.50%–0.95% (fees halved for pots over £100k) |
| Aegon | ARC SIPP: 0.60% to £30k, 0.55% to £50k, 0.50% to £100k, 0.45% to £250k, 0% above £250k, plus £75/year drawdown fee |
| Aviva | 0.35% a year on the first £500,000, with no charge above £500,000 (drawdown included) |
| Quilter | 0.35% first £50k, 0.25% £50k–£250k, 0.20% £250k–£750k, 0.15% over £750k |
| Standard Life | Tiered: £524 (<£100k), £328 (£100k–£250k), £197 (£250k–£500k), £0 (£500k+) plus £158 drawdown fee |
| Scottish Widows | 0.25% a year, capped at £16.50/month (£198/year) - Share Dealing SIPP |
| IG | £210 flat annual fee |
| Legal & General | 0.25% service charge a year (plus fund charges); direct drawdown uses investment pathway funds |
| Prudential | 0.40%–0.70% annual management charge (tiered) |
| St James's Place | Ongoing: 0.80% advice + 0.35% product (tiered to 0.25%) + fund 0.09-0.69%; initial advice 3%/2%/1% (from Aug 2025) |
| True Potential | 0.40% platform fee plus 0.50% ongoing advice (Central Advice Service) |
| J.P. Morgan Personal Investing (formerly Nutmeg) | Fully Managed: 0.75% on the first £100k then 0.35% above (Fixed Allocation: 0.45% then 0.25%) |
| Royal London | 0.35% annual management charge |
| Nucleus (formerly James Hay) | Nucleus platform: 0.27% to £500k, 0.175% £500k-£1m, 0.05% over £1m, plus £186 + VAT income drawdown charge |
Fund charges (Ongoing Charges Figure) sit on top of these platform fees and depend on the funds you choose — typically 0.10–0.20% for index trackers and 0.50–1.00% for active funds. Some providers also charge dealing fees or admin fees; check the full schedule before transferring.
The main annual charge for using the provider's platform. Usually a percentage of your pot (0.15%–0.45%) or a flat monthly fee. Percentage vs flat fee: percentage fees grow with your pot, while flat fees stay the same. Flat fees are usually better for larger pots (£100,000+).
Ongoing Charges Figure for the funds you invest in. Typically 0.1%–1% per year depending on fund type:
Even small fee differences compound significantly over retirement. The table below shows the cumulative cost on a £250,000 pot, before any investment growth.
| Annual fee | Cost over 10 years | Cost over 20 years |
|---|---|---|
| 0.25% | £6,250 | £12,500 |
| 0.50% | £12,500 | £25,000 |
| 0.75% | £18,750 | £37,500 |
| 1.00% | £25,000 | £50,000 |
Based on a £250,000 pot, excluding growth. With investment growth applied to the same balance, the actual impact is even higher because the fees you didn't pay would themselves have compounded.
SIPP providers typically charge platform fees (0.15%–0.45% annually or a flat monthly fee), fund charges (0.1%–0.5% for most funds), and sometimes dealing charges for share trades (£5–£12 per trade). Some also charge withdrawal or admin fees, though many providers have removed these.
It depends on your pot size. Percentage fees are usually better for smaller pots (under £100,000), while flat fees become more cost-effective as your pot grows. For a £250,000 pot, a flat fee like Interactive Investor's Plus plan at £14.99/month (£179.88/year) beats a 0.25% fee (£625/year) significantly.
Watch out for exit fees when transferring away, inactivity fees, FX conversion fees for international investments, paper statement fees, and higher dealing charges for phone orders. Always read the full fee schedule before choosing a provider.
A huge difference. On a £250,000 pot, paying 1% in fees vs 0.25% could cost you over £50,000 over 20 years (assuming 5% growth). Even a 0.25% fee reduction can save £15,000–£20,000 over a typical retirement. This is why comparing fees is so important.
No — fund fees vary significantly by provider. Some providers negotiate lower fund charges, offer their own low-cost funds, or waive fund fees entirely on certain products. Compare the total cost (platform plus fund fees) rather than just the platform fee.