You are here: Home - Retirement - Retirement planning - News -

Vanguard launches pension drawdown option

0
Written by:
30/11/2020
Investment giant Vanguard has now launched a pension drawdown option allowing savers to take payments from their SIPP.

The Vanguard Self-Invested Personal Pension (SIPP) launched in February this year and at the time, was only available to those looking to build up their retirement pots.

It said it was looking to open up the product to those wishing to take payments from their pension in 2020/21.

Vanguard has now announced it is open to drawdown customers, and there are no additional charges for drawdown.

Vanguard, best known for pioneering cheap passive investing, applies a 0.15% account fee capped at £375 a year. It covers all accounts in an investor’s name, including a SIPP, ISA, and general account.

The SIPP offers access to 78 funds and Exchange Traded Funds (ETFs).

Just last week, YourMoney.com revealed how Vanguard is now allowing in-specie transfers so investors can move existing Vanguard funds directly into their Vanguard SIPP.

Sean Hagerty, head of Vanguard, Europe said: “An individual’s savings often represent a lifetime’s effort, yet too many retirees continue to lose out on their own hard work to high fees and charges. Fees can have a sizeable impact on investment returns, and consequently on quality of life in retirement.

“Particularly in a time when economic conditions might be difficult, investors are best served by focusing on what they can control. Nobody can control the markets, but they can control what they pay to invest.

“At Vanguard, we aim to make this as easy as possible, through a service that is convenient, effective, and competitively priced.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

PayPal closing down Money Pools

The ability to create new Money Pools will be disabled from 30 September, while existing Money Pools will be s...
PayPal closing down Money Pools

Nationwide launches regular saver paying 2%

The Flex Regular Saver is only available to Nationwide current account members and for a limited time only.
Nationwide launches regular saver paying 2%

SEISS grants deemed discriminatory against new mothers

Campaign group Pregnant Then Screwed has proved in a court of law that the government discriminated against ne...
SEISS grants deemed discriminatory against new mothers

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week