Annuities

Annuities

Compare Pension Services

Compare UK Pension Services

Compare pension services for self invested pensions (SIPPs)  where you can pull your existing pension plans into one place.
Lost track of old pension plans? Service for tracking down plans from previous employments.
Annuity service if you are looking to buy a guaranteed income from your pension pot.
Fair Investment

FREE Guide – Retiring Early!

8 tips for an earlier, wealthier retirement

Transforming that dream into a reality doesn’t come cheap, how could you afford it? Once you have paid off debts, like it or not, the answer is likely to depend on your pension.

Straightforward guide provides eight tips that could help you to retire earlier than you thought, including:

  • The simple formula for how much you should consider investing each month
  • How to boost existing pensions
  • Understanding the options available at retirement (including the new rules)

This guide is not personal advice. Please remember tax rules can change and the value of the tax benefits will depend on your circumstances. The value of investments can fall as well as rise so you could get back less than you invest. Pensions cannot usually be withdrawn until age 55 (increasing to 57 in 2028).

FREE Guide – 8 Tips To Retire At 55 »

Self Invested Pension

Take Control of your pension!

self-invested personal pension (SIPP) is different to a traditional pension. Instead of limiting your investment options, a SIPP opens the doors, giving you more choice in how you invest your money. Like other pensions, the government will still give you up to 46% tax relief on the amount you pay in. Once your money is in a SIPP, you won’t have to pay tax on any gains or income your investments make.
  • Security – Hargreaves Lansdown are a FTSE 100 company and the UK’s biggest SIPP provider
  • Control – Check your pension whenever you like, online and with the HL app
  • Support – Pensions Helpdesk is on hand to answer your questions six days a week
  • Expertise – Research, ideas, and updates to help you with your investment decisions
Low Cost Self Invested Pension »
Self Invested Pension – FREE Guide

Compare Self Invested Pension Providers

Invest From:
£25 pm
Investment Options:

 

Over 11,000 investments to choose from including funds, investment trusts, ETFs, company shares, bonds and more.

Admin Charges:

 

£0 – £250k: 0.45%
£250k – £1m: 0.25%
£1m – £2m: 0.10%
Over £2m: FREE

Transfer In Existing Pensions:
Why we like it: Award winning pension provider, HL are a FTSE 100 Company and the UKs biggest SIPP provider which is testimony to the service they offer their 1m+ clients. With no setup or transfer in charges, and no charges to buy or sell funds, Hargreaves Lansdown offer a flexible SIPP where you invest as little as £25 pm.
Invest From:
Any Lump Sum or £25 per month
Investment Options:

 

A low cost award-winning SIPP that gives you a choice of over 40,000 investments; Selected funds; Ready made portfolios.

Admin Charges:

Sipp fee: £10
Investor Plan: £9.99 per month
Funds Fan Plan: £13.99 per month
Super Investor Plan: £19.99 per month

Offer: Open today and pay no SIPP fee until April 2021 (T&Cs Apply) 

Transfer In Existing Pensions:
Why we like it: For larger pension funds, Interactive Investor offer a flat fee SIPP which over the longer term could save you money as costs stay the same as your portfolio grows.

Special Offers: Open a SIPP and you wont pay a SIPP fee for 6 months Open an ISA, Trading Account or Sipp and you’ll get £100 of free trades to buy or sell any investment (new customers only) Terms apply

Invest From:
£100
Investment Options:

 

Choose from five ready-made funds, each with a different level of risk that may suit your needs

Admin Charges:

 

Low platform fees – 0.25%

Transfer In Existing Pensions:
Why we like it: Whether you are just starting your pension journey or looking to consolidate your pension or you are at or near Retirement, Legal & General’s Self-Invested Personal Pension (SIPP) is a flexible, tax-efficient way of saving for your long-term future. You can pay money into the plan up until you’re 75. You can start withdrawing money from as early as 55. Legal & General can help you choose from a range of ready-made funds, each with a different level of risk that may suit your needs. The SIPP will allow you to receive up to 20% tax relief on your contributions as a basic-rate UK taxpayer. You’ll also benefit from an easy-to-use online account. With investments, your capital is at risk
Invest From:
£40 pm
Investment Options:

 

Thousands of funds to choose from; Select 50 – Browse a list of expert picks. Pathfinder – Risk profiled fund options. Investment Finder – Search 1000s of investment ideas.

Admin Charges:

 

£45 up to £7,500 a year or 0.35% via monthly regular saving plan.
£7,500 – £250k: 0.35% £250k – £1m: 0.2% £1m +: free

Transfer In Existing Pensions:
Why we like it:  The Fidelity SIPP offers low cost pricing with an extensive range of investment options with user friendly selection tools as well as planning calculators and retirement guidance. If you are transferring from an existing SIPP they will cover up to £500 of transfer out fees. Fidelity with over $300 billion of assets, are one of the largest money managers in the world.
Invest From:
£25 pm
Investment Options:

 

A wide choice of investments, including over 2,000 funds, shares from 25 markets, ETFs, investment trusts and more

Admin Charges:

 

£0 – £250k: 0.25%
£250k – £1m: 0.1%
£1m – £2m: 0.05%
Over £2m: FREE

Transfer In existing Pensions:
Why we like it: There are no charges to set up their SIPP and if you are moving an existing SIPP to them there are no transfer in charges. With AJ Bell you can deal from as little as £1.50, and you will never pay more than £9.95 per online deal.
Invest From:
£25 per month
Investment Options:

 

Funds selected for you based on risk profile

Annual Platform Fee
0.60%
Transfer In Existing Pensions
Why we like it:  For investors who want a expert plan put together for them based on timescales and investment risk profile Wealthify (backed by AVIVA) offer a tech savvy low cost option. Your money is invested in a range of funds including shares, bonds, property and commodities using mainly low cost passive investments such as ETFs and mutual funds. Fund houses used include Vanguard, Blackrock and Fidelity. Wealthify also offer an ethical investment option.
Invest From:
No Minimum
Investment Options:

 

7 Plan options; Tracker, Tailored, 4Plus, Future World, Shariah, Preserve and Match.

Admin Charges:

 

From 0.50% to 0.95% pa depending on the plan you choose.

Transfer In Existing Pensions:
Why we like it: Pension investing made simple. Pensionbee offer 7 risk profiled investment plans managed by leading world investment managers including State Street Global Advisors, BlackRock, Vanguard and L&G. It’s free to change your plan at any time & if you don’t want to decide straightaway you can simply pick their most popular plan “Tailored” which automatically moves your money into safer assets as you grow older. For funds over £100,000 management fees are reduced e.g. for their tracker plan the annual charge is 0.25%.
Invest From
£25 per month
Fund Choice
Funds selected for you based on risk profile
Annual Platform Fee
0.68%
ISA & Pension Options
Why we like it:  For investors who want a expert plan put together for them based on timescales and investment risk profile Moneyfarm (backed by Allianz Global Investors) with over 40,000 investors across Europe offers a select range of asset classes, geographies and currency exposures to minimize risk and maximise growth. There is a focus on keeping costs low and quality high. Moneyfarm use ETFs to build their portfolios. typically your portfolio will contain 7 to 15 funds based on your risk profile and goals.

Annuity Services

Annual Income
£5,138
Payment Terms
Annual income for life
Purchase Amount
£100,000

Pension Finder & Transfer Service

Setup Fee
No Fee
Annual Fee
From 0.35% pa
Pension Service
PensionBee will find all your old pensions and combine them into a single, good-value, online plan.
Drawdown Option

Pension Bee Finder & Consolidation Service

Annuities

Annuities, in their simplest form, are a promise of a regular income for the remainder of your lifetime in exchange for an initial lump sum. Essentially, you are buying yourself an open ended income for a known initial lump sum payment.

Of course, the annuity market is constantly developing and whereas the original annuity was a fixed payment for the remainder of your lifetime, now it is possible to receive an annuity which increases each year in line with inflation (or indeed by a fixed percentage) and annuities which may only be paid for a certain amount of time.

There are now many different types of annuity from which to choose and many companies operating in this very competitive market which makes it important that you compare annuities to ensure that you obtain the most competitive rate. Many types of annuities have been developed for specific purposes and so by their very nature will be most suitable, if not the only option, given certain circumstances.

For the majority of people, their main exposure to annuities will be through their pension scheme, whether this is a personal pension scheme or one provided by their company. Pension annuities, also known as compulsory purchase annuities, will be payable for your lifetime and the amount that you receive will be dependent upon a number of factors, namely:-

  • The accumulated fund value
  • Your age at retirement
  • Your sex
  • Whether you would like an income paid to your spouse after your death and if so, their sex and age
  • Whether you are happy to have a higher initial income which remains level throughout your life or wish to build in an element of inflation proofing which will mean receiving a lower initial income

Importantly, annuity rates themselves fluctuate according to interest rates, gilt yields and life expectancy.

Different types of annuities are taxed in different ways so that pension annuities will normally be taxed as income, whereas an annuity effected for investment purposes may well be payable partially tax free.

It is important to note that once an annuity has been purchased, it cannot be amended or encash or assigned to another party. In the majority of cases, annuities are payable for your lifetime and will cease on your death unless you have included a widow/widower’s pension or a minimum guaranteed period.

10 COSTLY PENSION MISTAKES

10 Costly Pension Mistakes Millions of Britons Make

  • How to discover if your pension will be enough
  • What ‘free money’ most private sector workers miss out on
  • How to get a share of £41 billion from the taxman
  • How to benefit from the pension freedoms and avoid the traps
FREE Guide – 10 Costly Pension Mistakes »
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