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Are there low cost providers who accept SIPPs in drawdown?

11 October 2021

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Question by Greg

I am 72 but apart from the tax free content have not yet drawn down on my SIPP. My current adviser charges 2% per annum which will be a noticeable chunk of my future income so I am thinking of transferring to a lower cost provider. It seems the robo-investors don't accept SIPPs in drawdown and I don't want to advise myself. Are there low cost providers who accept SIPPs in drawdown?


Answered by James Greenly

Hi Greg

Firstly, 2% a year is very high, so you're doing the right thing by shopping around.

I am aware that PensionBee does (or at least used to) accept SIPP transfers in, even those that are in drawdown. Boring Money have done some research into them so that would be a good place to start.

Best

James

Answered by

James Greenly

Chartered Financial Planner

I am a Chartered Financial Planner at Capital Asset Management, a boutique financial planning and wealth management firm based in the City of London.