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.
Looking To Retire At Age 55? FREE Guide
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 Pensions cannot usually be withdrawn until age 55 (increasing to 57 in 2028).
Self Invested Pension
Take Control of your pension!
A 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.- Low cost award winning pension – Fixed fee plan keeps costs down over long term
- Investment choice – Choose from more than 40,000 investments
- Ready made funds and investment ideas – Making it easy to select investments
- Expertise – Research, ideas, and updates to help you with your investment decisions
Compare Self Invested Pension Providers
A low cost award-winning SIPP that gives you a choice of over 40,000 investments; Selected funds; Ready made portfolios.
Sipp fee: £5.99 pm – assets up to £50,000, £12.99 pm – assets over £50,000
Low-cost personal pension from award-winning provider Bestinvest. Choose from thousands of investments, get inspiration from guides and articles or opt for a Ready-made Portfolio
Sipp fee: up to 0.4% pa
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.
Less than £25,000: 0.35% if you have a regular savings plan or £90 (£7.50 a month) if you don’t
£25,000 or more but less than £250,000: 0.35%
£250,000 or more but less than £1 million: 0.20% – and you will automatically qualify for Fidelity’s Wealth Management Service benefits
£1 million+: 0.20% a year for the first £1 million and no service fee for investments over £1 million
Annuity Services
Pension Finder & Transfer Service
There are no tables for this criteria
Immediate Annuity
An immediate annuity is a retirement income plan that can be bought with your own money from non-pension sources such as savings, investments, an inheritance, or the tax free cash lump sum from a pension fund. This type of annuity could provide you with a tax efficient, additional income from the age of 55. It works by providing you with a guaranteed income for the rest of your life.
How does an immediate annuity work?
When you purchase an immediate annuity, you enter into a contract with an insurance company to purchase a guaranteed stream of income. Some of the benefits of this could include:
- Guaranteed income – an immediate annuity will pay you a regular income for life, so it’s a relatively low risk option. Your income will stay the same year on year, which could help you plan your financial future more effectively
- Various income options – You can choose to receive your income monthly, quarterly, half-yearly or annually
- Many immediate life annuities come with a guarantee for a limited time – this can sometimes be extended, so check with your provider
- An immediate life annuity is usually taxed differently from pension annuities – HM Revenue and Customs may agree that part of your initial payment is a return of capital and therefore not subject to tax. However, tax rules depend on individual circumstances and may be subject to change in the future
Points to consider when taking out an immediate life annuity:
- Depending on how long you live, you may get back less than you bought your annuity for – for this reason, an immediate life annuity may not be the best option if you are in poor health or have a below-average life expectancy
- Inflation could erode the value of your income in real terms – because your income from an immediate life annuity is fixed, the real value of your money could depreciate over time
- There is no cash-in value to an immediate life annuity – Once you’ve bought an annuity, it cannot be cashed in at any time in the future. While this means that you don’t have to pay it much attention once you’ve purchased it, one disadvantage is that an immediate payment annuity is irreversible once it has been purchased. This could present a problem if something unexpected occurs and you suddenly find yourself in need of access to a large amount of money at once
- What happens to your annuity when you die? – In most cases, an immediate lifetime annuity dies with you, meaning that you cannot leave any residual money to your partner, children or other dependants
- The options you choose at the start of your plan can’t be changed
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