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Do you have charges for going into drawdown?

Unlike some of our competitors, Fidelity does not have any specific charges for moving pension savings into drawdown or for taking withdrawals from a drawdown account.

However, if you decide to take advice on moving into drawdown, you may have to pay for this advice. With a Fidelity SIPP, advice is available through Fidelity’s retirement service. Call 0800 368 6882 for a free initial chat, to find out how the service works and what the charges will be.

While your money is in a drawdown account with us, you will have to pay the same ongoing charges that apply to other types of account:

  • Our Service Fee – this is typically 0.35% of the value of your investments each year, with a minimum payment of £45 a year. If you have more than £250,000 invested with us, it goes down to 0.2%, and it is 0% for investments above £1 million.
  • Transaction fees for dealing in certain types of investments, such as company shares, investment trusts and exchange traded funds (ETFs). The standard charge for selling or buying one of these investments online is £10.
  • The investment charges levied by the companies managing any funds you invest in.

You can find more information about drawdown here.