Pension drawdown glossary
A percentage platform fee that falls on each slice of your pot above set thresholds — for example one rate on the first £250,000 and a lower rate on the rest. Some platforms instead apply one rate to the whole pot once it passes a threshold.
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.