Where do I get Drawdown?

Drawdown is not available from all pension providers. If your pension provider does not offer a drawdown option then you would need to transfer your pension to a provider that does offer it.

Transferring a pension is relatively easy but it will involve costs. Your existing pension may have penalties if you transfer it away - obtain a transfer value and if there are any penalties find out when these might end. The new pension provider will also make a charge to accept the transfer in, this will include an allowance for paying commission to a financial adviser but this could work to your benefit...

If you choose the services of an Independent Financial Adviser then they should offer you the choice to pay by fee or take some of the commission available from the pension provider. AN IFA can choose to give up some of this commission and make it cheaper for you to transfer. At the same time, you benefit from advice and research which will help you choose the best home for your pension - this is very important, get it wrong and it could cost you much more than the cost to transfer.