Fees of 13%...

[steveal]

Folks,


I'm new here. I'm 68 years old and happily retired with my wife.


I have a pension in drawdown with Carey Pensions. It is not a giant part of our retirement income, but the charges being levied seem excessive.


I get just £257 per month paid from the pension.
Carey Pensions make a £480 withdrawal every year for "Scheme Fees".
Total withdrawn from the account each year is £3564, and Careys portion is 13.4%!


Is this normal? Reasonable? Can anyone suggest an alternative idea?


Regards,


Stephen

[minniemouse]

Have you thought of going to the Pension Ombudsman? It's free, they give advice and settle disputes etc., You'll find their website on Google.

Welcome to the forum