Royal London pension drawdown hub: published fees, investment options and features. Updated for 2026. Guidance, not advice.
Estimated yearly cost at £250,000: £1,125 a year (monthly income, no share deals; Includes fund charges).
Position on cost: Not in our DIY ranking: you need an adviser, so it is compared on advised drawdown. Compare advised drawdown platforms
| Drawdown admin fee | None Included in the yearly cost above |
|---|---|
| Regular income payments | Free |
| One-off (ad-hoc) withdrawal | Free |
| UFPLS payment | Not confirmed |
| Transfer out (exit fee) | Not confirmed |
| Minimum pot | Not confirmed |
| Cash in the pension | Not confirmed |
Fees checked 23 Sept 2026. “Not confirmed” means the charge is not published or we have not verified it; it is never counted as free.
Sources: Pension drawdown · Costs and charges · Pensions and investments charges guide
Capital at risk. Comparison information only, not advice. Confirm charges on the provider’s own pages before you act.
You need a financial adviser to use Royal London for drawdown. Its real cost includes the adviser’s fee, so we compare it with other advised drawdown platforms rather than in our DIY ranking.
Platform fees: Tiered whole-pot AMC after loyalty discount: 0.75% to £48,300, 0.50% to £96,700, 0.45% to £290,000, 0.40% to £967,000, 0.35% above; breakpoints rise with RPI each April; advice normally required to set up drawdown
Fund charges (Ongoing Charges Figure) apply on top of platform fees and depend on your chosen investments. Use our calculator above to see the total annual cost for your specific pot size.
Eligible claims may be covered by the Financial Services Compensation Scheme (FSCS). If a SIPP operator or investment firm fails, the limit is £85,000 per person per firm; a pension provided by an insurer is normally covered in full. FSCS pension protection
Source: FCA warning about clones of Royal London (lists the genuine firm's details), checked 23 Sept 2026.
No new verified updates this month. We only list items we can cite from an official RNS, company newsroom or official blog.
14 Oct 2026
On 14 October 2026 Royal London said it had completed a £40 million bulk purchase annuity with the trustees of the Metallus UK Pension Scheme. The buy-in secures the benefits of 493 members.
22 Sept 2026
On 22 September 2026 Royal London launched an estate and inheritance planning framework to help adviser firms prepare for unused pension funds and pension death benefits coming within inheritance tax from April 2027. The same release says the firm looked after 8.4 million life and pension policies and £212 billion of assets under management, with those figures quoted as at 30 June 2026.
6 Mar 2026
Royal London’s 6 March 2026 newsroom release said group adjusted operating profit grew 18% to £327 million and that it would share £199 million with eligible customers through ProfitShare. Assets under management were £199 billion at 31 December 2025.
Last verified: 2 Nov 2026.
Also compare: Vanguard, Interactive Investor, AJ Bell Youinvest, Hargreaves Lansdown, Fidelity Personal Investing, and all UK providers we track.
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.