SIPP Drawdown

[Ginge R]

Mr Trophy said:

BC, did your IFA give you anymore reason's for the move? Is he charging you a percentage to the move the fund value and changing the on-going rate?

What Mr Trophy said.

The old churning excuse about the number of funds available, is, frankly, boll0x. You'll only ever use (probably!) no more than 5% of them anyway. Aviva is cheaper and I don't particularly like Standard Life, but why didn't he highlight Aviva to you in July? I'd like to know what funds Aviva has that SL doesn't, that are now so vital for you..

[Ginge R]

bad company said:

No there is no charge to move the funds. The ongoing rate is slightly cheaper but Mrs BC and I have large pensions and offshore trusts (Standard Life WRAP) so that's probably why.

Does the drawing percentage seem reasonable?

Impossible to say if it is or isn't. Fund growth or loss isn't linear, but have you (or your IFA) done some basic cash flow modeling with various scenarios?

[Mr Trophy]

Ginge R said:

What Mr Trophy said.

The old churning excuse about the number of funds available, is, frankly, boll0x. You'll only ever use (probably!) no more than 5% of them anyway. Aviva is cheaper and I don't particularly like Standard Life, but why didn't he highlight Aviva to you in July? I'd like to know what funds Aviva has that SL doesn't, that are now so vital for you..

BC, as above.

Aviva's flat rate is 0.35% for the first 250K, they are the cheap, however, I am very interested to find out what funds he is going to be using!