![]() So our recommendations make up a fair proportion of our best pension providers, as well as the cheapest pension drawdown providers too. There’s not typically a drawdown fee, or anything like that. The great thing about the very best pension drawdown providers, is that the fees typically don’t change from when you were building up your pension savings in the first place. What’s the cheapest drawdown pension provider? Or, you can try the Government’s pension tracing service.Īfter that, your money should be moved across after a few weeks (or sometimes months). If you’re not sure, and you have an old workplace pension (a pension set up by your old employer), your old HR department should let you know. That’s all the paperwork, and all the communication with your existing provider.Īll you need to do is let them know who your old provider is. This couldn’t be easier too – if you pick one of our recommended options, your new pension provider will handle everything for you. Once you’re happy with your pension provider decision, and the pension plan you’d like (or if you’re making your own investments, simply the range of investment options on offer), all that’s left to do is to transfer your pension(s) across. ![]() ![]() You don’t have to pick any of the recommended investment options, you can still make your own investment decisions. Most drawdown pension providers should offer these options to you in order for you to pick the right pension plan for you (the pension fund investment).Įven self-invested personal pensions should offer this. Whereas ‘fixed income’ means loaning money to governments and large corporations in return for interest payments – these are often called bonds, and typically seen as more stable investments. If you’re not sure about the details, ‘equities’ means investments in stocks and shares, which typically grow much more over time, but the value of your pension can go 'up and down' along the way.
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