as of 25/02/2021 at 12:04 pm
We do not currently have sufficient feedback from investors on the drawdown experience to review the service for those in retirement. Please help us by leaving your review.
Nutmeg offer a personal pension account for balances as low as £500. They will assist customers who want to consolidate their pensions and transfer any existing pensions into one account, which can sit alongside an ISA which makes it easier to stay on top of everything.
The fees are the same for a pension as for an ISA and depend on what you choose to fill your pension with. The lowest cost option will be circa 0.7% a year – that’s £7 on a £1,000 pension pot. The highest cost option is nearer 1% all-in every year.
Nutmeg does support flexible drawdown but with a third-party provider. At this stage it all gets a bit more paper-based and you need to send 2 forms by snail mail, a bank statement and then also sign a risk warning letter. After this it can take 3-4 weeks for the funds to arrive in your account.
There are 4 core investment choices to make, from the lowest-cost ‘fixed allocation’ portfolios, to a socially responsible range and also a range of higher-cost portfolios which are more actively monitored and tweaked.
The largest UK robo-adviser, with over £1.5bn invested
|Minimum amounts:||£500 minimum
"I currently have my children's Stocks & Shares ISA's with H&L however I am not that savvy with investing so I am thinking of moving it over to Wealth Simple and allowing them to do it for me. Would you recommend this or are there other roboadvisors you would suggest? I am happy to leave the money in long term until they are about 18 so looking at an 'ambitious' risk. I also have the same account with H&L and will potentially swap also."
12/10/2020Read our reply
"Hi, I'm trying to choose an 80/20 low cost tracker fund to transfer my pension to, as I'm currently paying 1% fees to my provider which I want to save on. Does the performance of different tracker funds vary a lot (e.g. between PensionBee, Nutmeg, AJ Bell) and how do I compare their track records? Many thanks, Vivienne"
22/07/2020Read our reply
"I'm a 48 year old with minimal pensions. I would like to start a new pension to save for the next 12 years. I've already set up a Stocks & Shares ISA with Nutmeg, so would like to start my pension with another provider. I know little about investments so would like to use a company that has ready made funds based on risk assessment. Which would you recommend?"
30/05/2019Read our reply