Pension drawdown glossary
A platform charge set in pounds rather than as a percentage of your pot, so it does not grow as your pot does. Flat fees tend to work out cheaper on larger pots and dearer on small ones.
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.