Find a Pension Plan

To help you save for your retirement we have selected some great pension plans whether you are starting out or have existing pensions that you want to consolidate into a new plan.

Invest From:
£1
Investment Options:
Choose from a selection of investment plans managed by BlackRock, HSBC, Legal & General & State Street Global Advisors
Admin Charges:
From 0.5% to 0.95%. Annual fees reduced by 50% for your pension pot over £100,000
Transfer In Existing Pensions:
Why we like it: PensionBee offer a smart low cost pension platform which provides you with access to 4 of the largest fund managers in the world (BlackRock, HSBC, Legal & General & State Street Global Advisors).  You can transfer in old pensions and set up a brand new easy-to-use online pension plan. With PensionBee the fees you pay reduce by 50% on funds held over £100,000. You can check how your pension is doing at any time with access to a retirement planner app which forecasts how much you are on track to have saved by by the time you retire. With over 799,000 customers and high Trust Pilot reviews Pensionbee is worth a closer look.
Invest From:
£1,500 plus regular direct debit
Investment Options:
Funds selected for you based on risk profile
Admin Charges:
0.68% pa
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 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. With investments, your capital is at risk.

Invest From:
£500
Investment Options:
FREE
Admin Charges:
From 0.35% to 0.75% including VAT
Transfer In Existing Pensions:
Invest From:
£50 per month
Investment Options:

 

Funds selected for you based on risk profile

Admin Charges:
0.60%
Transfer In Existing Pensions:

Why we like it:  For investors who want an expert plan put together for them based on timescales and investment risk profile Wealthify (part of the Aviva group) 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.


With investments, your capital is at risk.
Pension Name
Penfold Personal Pension
Set Up Fee
FREE
Annual Fee
From 0.4% to 0.88%
Features

Combine and consolidate your pensions the easy way with Penfold, and then pick your perfect investment plan from a range of diversified funds

At some point, you will need to stop working!

  • Whilst your State pension will provide a certain level of income, it is unlikely to be enough for you to live on to give you the lifestyle you want.
  • The reality in the UK is that people are not saving enough for their retirement. According to Hargreaves Lansdown in research carried out in 2022 approximately 60 percent of people in the UK are not investing enough to provide an income in retirement that will meet their needs.
  • Making regular contributions from your salary into a private pension means you can reduce the likelihood of not having enough to live on when you retire. The earlier you start doing this, the better.

  • Tax relief is available for your pension contributions: up to a certain amount, the government adds 25%. You can claim even more if you’re a higher or additional rate taxpayer.
  • Employers are legally obligated to contribute to workplace pensions on behalf of their employees. Not only do you get tax relief, but you also get contributions from employers.
  • However, there is more to it. As pension investments are tax-free, you won’t incur income tax or capital gains tax on dividends you receive from shares or on profits you make from your pension pot investments. Pension withdrawals have income tax implications, however.

The government makes a tax refund to your personal or workplace pension.

  • You receive government pension contributions according to your income tax bracket. Pension providers automatically claim basic rate contributions on your behalf and add them to your pension pots.
  • If you are a higher rate taxpayer or additional rate taxpayer, you can claim further tax relief through your annual tax return.
  • If you are a basic rate taxpayer, the government adds £25 to your pension pot for every £100 you pay in, so you only need to contribute £100 to receive £125.
  • The maximum tax relief on pension contributions is £40,000 for 2022/23; most people get this up to 100% of their salary. There is a tapered tax relief limit for higher earners.

Current rules allow you to access a workplace or personal pension at age 55.

  • You can withdraw up to 25% without paying tax, and you’ll be charged for subsequent withdrawals at your regular rate
  • It is possible to buy an annuity with all of the money, which will provide you with a guaranteed income for the rest of your life
  • Your pension fund can be reinvested to generate income as you need it

Compare Self Invested Personal Pension Providers

Like to make your own investment decisions on how you invest your pension money?

A self-invested personal pension is a great way to save for retirement with significant tax benefits. You choose what to invest in and when and can contribute in lump sums or with a regular savings plan.

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: £12.99 pm

 

Transfer In Existing Pensions:

Special offer: Open a SIPP today and pay no fee for your first 6 months. Terms apply. Capital at risk.

Why we like it: A new, straightforward way to build your pension has arrived. Open an ii SIPP for just £12.99 a month. Capital at risk.

Invest From:
Any Lump Sum or £100 per month
Investment Options:

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

Admin Charges:

Sipp fee: up to 0.4% pa 

 

Transfer In Existing Pensions:

Why we like it: Choose from 1,000s of funds, ETFs, investment trusts and nearly all UK shares. Alternatively, let experts choose and manage your investments with a low-cost Ready-made Portfolio. Capital at risk.

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 – £500km: 0.1%
Over £500k: 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. With investments, your capital is at risk.
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. With investments, your capital is at risk.
Invest From:
£25 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. With investments, your capital is at risk.

Important information – SIPP investors need to be happy to make their own investment decisions and understand that investments can rise and fall in value. It’s possible to get back less than you pay. You’ll usually need to be at least 55 (rising to 57 from 2028) before you can access the money in your pension. Pension and tax rules can change and any benefits will depend on your circumstances. Before transferring a pension you should always check the costs involved first and whether you’d lose any valuable benefits. This information is not personal advice. If you’re not sure what’s best for your situation, you should seek advice.

 

Looking for retirement advice?

Getting advice on your retirement options can be crucial in aiming to meet any expectations you have about your income in retirement.

Retirement Planning

There is a lot of value in fully considering your retirement options and investment strategy for pension savings.

Good financial planning is necessary to ensure that you enjoy an adequate retirement income to ensure that your pre-retirement living standards are not compromised.

If you have private pensions how your pension funds are invested will also be important, with regular reviews of your pension recommended to ensure you are on track to hit any targets for future earnings.

The underperformance of a pension fund may require increased contributions or a change in strategy, while pension legislation may also be a factor to consider.

Under current legislation, pension funds can grow tax-free and at retirement, you have the option of taking some of the cash tax-free. The balance of the fund can either be invested in a pension drawdown arrangement or in a traditional or investment annuity arrangement. Pension income is subject to tax at your personal tax rate.

There is no time like the present to start planning for retirement.

We work with trusted pension advisers to provide a personal financial planning service for people just like you, who use the Fair Investment site.  They have extensive experience in helping people plan for a stronger financial future.

  • There’s no pressure to act on their advice – You’ll have the time you need to decide if you want to act on their recommendations, and will only pay a fee if you do
  • You can speak to an adviser without even leaving your home – via an appointment over the phone or online
  • Free 15 minute initial appointment and you’ll only be charged if you decide to proceed with the recommendations provided
Service Offered
Get retirement ready with expert advice
Details

Abrdn’s retirement specialists are here to do the hard work and help you feel confident about your retirement future. You’ll receive advice over the phone and online to keep charges as low as possible. Get started with a free, no obligation 15 minute call. Capital at Risk

Charges
£999 one-off fee plus a 0.5% charge of assets managed per year for ongoing advice
Minimum Deposit Required
£50,000

Why we like it: Personalised financial advice with a free, no-obligation initial call

Important Risk Information: This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of pensions is based on current tax law and there is no guarantee that tax rules will stay the same in the future. Different types of investment carry different levels of risk and may not be suitable for all investors. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice. * Details of how the Financial Services Compensation Scheme applies to investment firms can be found at fscs.org.uk.