Elevate PIA drawdown
We offer a number of flexible options for clients taking withdrawals from their pension fund.
Risk warning
The value of investments can go down as well as up, and the investor could get back less than was paid in. Laws and tax rules may change in the future. Personal circumstances and where the investor lives in the UK will also have an impact on tax treatment.
Pension Investment Account drawdown
That's why the Elevate platform offers a broad range of investment choices including an extensive collection of discounted share classes.
Elevate can help you meet the investments needs of your clients with:
- Access to over 4,000 funds from over 150 fund managers and over 400 discounted share classes, Sterling denominated stocks and shares, investment trusts, and Exchanged Traded Funds
- A range of multi-asset fund solutions, some with discounted share classes, including MyFolio
- Risk assessment tools and model portfolio functionality, supported by independent asset allocations provided by EValue
- Separately managed accounts (SMA) managed on your client’s behalf by investment professionals
Elevate’s retirement income options
Flexible access drawdown
- Move all or part of your client's pension into drawdown
- Make one-off withdrawals or set-up a regular income
Regular drawdown
- An option for clients looking to take their retirement benefits on a regular basis
- regCreate a tax efficient income for your clients where all or part of each withdrawal is tax-free cashular drawdown List
Uncrystallised funds pension lump sum
- Flexibility for your clients to take one-off withdrawals direct from their pension fund without setting up drawdown
- Each payment is made up of 25% tax free cash and 75% taxable income
- There are no minimum amounts and no withdrawal fees
Capped drawdown
- Transfer-in any existing capped drawdown pension pots your clients have and manage these alongside their other pension assets
- If they require a greater income, you can convert these arrangements to Flexi-access drawdown with our automated, on-platform functionality
Elevate’s regular drawdown
Elevate regular drawdown allows you to:
- Select the investments to be used to provide income or moved into drawdown
- Choose the right payment date and frequency – income can be paid on any date your client wants between the 1st and 28th of each month
- Receive alerts should the regular drawdown instruction need amending
- Laws and tax rules may change over time and tax treatment will depend on your client’s individual circumstances
Eligibility
- The minimum age before any benefits can be taken is normally 55 (subject to change in the future) – there is no upper age limit (subject to change in the future)
- Applicants must be UK residents
Charges
There is no charge for moving to drawdown or for being in drawdown. However, your fund will still be subject to investment charges. Compared with a lifetime annuity, the charges for drawdown pensions are usually higher.
See the Elevate charges guide (PDF) for more information.
Flexible adviser payments
Initial adviser charge
You may agree a charge with your client for advice for drawdown. We call this the initial adviser charge.
Ongoing adviser charge
Payment be taken once a year or split across a different time period (every month, quarter, half-year or year).
Ad hoc adviser charge
You may agree to take a one-off payment for client servicing, which is known as an ad hoc adviser charge.
Literature
Financial Services Compensation Scheme
More resources for advisers
Elevate help centre
Navigate your way around our help articles and support information.
Techzone
Support on the pensions, taxation and wealth transfer issues that matter to you, compiled by our expert team.
Adviser Insights
Articles that examine the trends, risks, and opportunities facing the advice industry.
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If you'd like more information about Elevate's charges, speak to your usual abrdn contact. If you don't currently have an abrdn contact, please email: