Are there low cost providers who accept SIPPs in drawdown?
11 October 2021
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
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.