![]() The lower the fee, the more money for you. If you are planning to make lots of small withdrawals, then the fees could quickly add up. Your pension provider will have charged a management fee as you held a personal pension with them, and once you retire it they could charge you to withdraw! Different providers charge different amounts for pension withdrawal, and this can add up to a significant chunk of your investment funds. Pension fees are probably the most frustrating part when looking at drawdown and flexi-access drawdown. Here are three key questions to consider, to help you decide whether your current pension provider is best for you. However, your current pension provider may not be offering you the best drawdown deal – and this could be costing you money. Once you approach retirement age, a key decision to make is how to make use of your pension income drawdown. You may be able to take cash directly from your pension pot.Shop around before you drawdown: your current pension provider might not be your best option. This limit will be reviewed every 3 years until you turn 75, then every year after that. Your pension provider sets a maximum amount you can take out every year. If you have a ‘capped drawdown’ fund and want to keep it, your money will stay invested.
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