Pension drawdown glossary
A fee each time you buy or sell an investment on a platform. Many platforms deal in funds free but charge for shares, ETFs and investment trusts.
Source: MoneyHelper: pensions glossary · Last reviewed 24 September 2026
See every term in the A–Z glossary. Definitions are general information for the 2026/27 tax year, not personal advice.
Important: The value of investments can fall as well as rise. You may get back less than you invest. Tax rules can change and benefits depend on individual circumstances. This is not financial advice.