Why choose us for pension drawdown?
Our suite of drawdown options offer:
- More control: our wide range of options give your clients control over how income is taken in retirement and may help them maximise tax efficiency or death benefits
- Fast withdrawals: the money will normally be in your client's account within five working days
- Service to support: Throughout your client's retirement journey from adviser relationship to the money reaching their account
We offer a range of options on how income can be taken. Our Active Money Personal Pension (AMPP) and Active Money Self Invested Personal Pension (SIPP) products offer your clients a broad selection of drawdown flexibility to suit their retirement needs.
Your clients must meet the following requirements to access income drawdown with us:
- Their pension must be at least £25,000 for our AMPP and £30,000 for our SIPP (subject to change in the future). The FCA recommends a minimum of £100,000 so other sources of income should be considered.
- The minimum age before any benefits can be taken is normally 55 (rising to 57 on 6 April 2028) – there's no upper age limit
Income drawdown charges
There are no additional income drawdown charges with our AMPP or with Level 1 or 2 investments in our SIPP.
But if your client has a Level 3 investment through our SIPP, a yearly charge for pension fund withdrawal will apply if they're in drawdown.
This applies if tax-free lump sums or income have been taken, even if there's been no income paid in the past 12 months.
You can find out more about income drawdown charges in our SIPP choices and charges guide.
Flexible adviser payments
Your business needs the flexibility to charge clients in a way that suits you both. So our AMPP and SIPP products give you control over how you charge your clients.
You can find out more about our flexible adviser payments in our 'Terms and conditions for paying your adviser' guide.
Initial adviser charge
You may agree an 'initial adviser charge' for drawdown advice. This will be available each time your client takes benefits or when a single or transfer payment is paid into the pension plan.
Ongoing adviser charge
You may agree that your client will pay for ongoing specialist advice in relation to their pension plan. This amount can be taken once a month, every quarter, every six months or once a year.
Ad hoc adviser charge
You may agree to take a one-off payment for client servicing. This can be taken at any time and we can pay more than one ad hoc adviser charge during the lifetime of the pension plan.
Our literature library has all the useful information, forms and documents you need for our drawdown options.
Money invested is at risk. Tax may change in the future.