TOP 3 DRAWDOWN Providers
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- čas přidán 30. 06. 2024
- Here we take a look at top 3 drawdown providers according to research by The Times. This includes Vanguard, Aviva and Interactive Investor.
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Here we look at the best drawdown providers in the UK - an important decision when it comes to drawing your pension
Very helpful. Thank you!!! :)
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It strikes me that charges are not the main concern of selecting drawdown providers - but rather the performance rate of the underlying investments.
Not sure that quoting charges, particularly with the biased view of the Sunday Times is totally helpful. I don't care what my pension provider charges as long as the value of the plan returns are good after charges. I have one draw down pension from one of these so called "top three", and the plan has performed poor to average at best despite the low charges. My other provider (one which Sunday Times appears to have a feud with) is slagged off for having high charges. Despite this, in percentage terms, my other provider has over the last five years, returned a rate double what my "Top 3" has, even after the charges.
I have a Vanguard SIPP. Looks to be working well. I have heavily weighted into the S&P 500. I wonder if you can make a video on the best way to withdraw and drawdown on an ISA in retirement. Trying to figure out what the best way is to withdraw when the time comes. Should you drawdown you annual amount at the beginning of the year or do it monthly. Also how you decide which parts of the portfolio to withdraw. Having a number of investments including index funds and single stocks, trying to decide how to do it could be difficult. I was thinking of withdrawing from the investments performing better and rebalancing.
Great video. I'm interested in the Vanguard SIPP, but curious why there's this focus on de-risking as you approach retirement age. I'm currently with Scottish Widows (workplace pension) and they are the same, automatically switching from equities to "low risk bonds" as I get nearer to my chosen retirement age (later this year). Since majority of people no longer take annuities but opt for draw-down these days, what's the point in shifting everything into low risk / low growth funds, when people will be hopefully living off their pension pot for 20 or 30+ years? I can see the point in having some in low risk funds, so you don't draw down if the stock market crashes, but surely no more than 3 years worth. Interested to know your thoughts. Thanks.
Interactive investor can for many people cheaper than vanguard and allow thousands of stocks, ETFs, and funds !
Trying to open a vanguard pension account is expensive! £500 minimum by debit card even before you transfer your pension!
I was expecting an emphasis on the drawdown costs
What about ufpls? I’ve heard it’s cheaper?
Helen I'm looking to retire 62 have vanguard life stragegy drawdown
Going to use drawdown and savings to retire ill have no other income till 67 state pension
If I draw 12000 a yr will I be able to claim back tax taken at scource
You will need to do a self assessment tax return , you can do it the day after the new tax year (most people wait until the following January) and claim your tax back then.
Helen, can I get a drawdown pension which I can take from the age of 50?
Under current pension rules, you generally cannot draw your pension until you are 55.
There are some exceptions such as if you have certain health conditions (e.g having been diagnosed with a terminal illness).
Some pensions (typically those you might have joined before 6 April 2006) have a protected pension age lower than 55. If you think this might apply to you, ask your scheme administrator
Otherwise, 55 is the earliest you can draw your pension. This will be increasing to 57 in 2028 which will likely affect those born after April 1973.
Hello Helena, I have 3 separate private pension that I will be combining into a drawdown pension next year when I am 55yrs old and able to retire early, my question if you could shine any light on it is....will my drawdown pension with all my pension combined only be protected by the FSCS of up to 85k? my pot will be 200k at least so how can I protect myself and my pension if something goes wrong with the company I have invested in?
You are correct that the FSCS will cover you for only £85K.
If rather than combining all 3 pension policies into one, you transferred them to two or three pensions all of or most of your funds would be protected - but the FCA requires that all all pension providers hold clients' pension pots in a ring fenced client account (ringfenced from the pension provider's working capital).
@@mikeroyce8926 Thankyou
Another useful and informative video. Thanks Helena! 😊
You’re welcome 😊
Opted for life stragegy 60% s2 at 56 took 25%4yrs later have more than got that back excellent product
Thanks Robert for the info gud to know it works.
These videos should be dated