Compare Pension Options
Compare Self Invested Pension Providers
AJ Bell Youinvest SIPP
The AJ Bell Youinvest SIPP has over 4,000 funds and over 21 markets, investment trusts, tracker funds (ETFs) and stocks and shares to choose from
- Voted “Best SIPP Provider 2016” by City of London Wealth Management Awards “Best Low-cost SIPP Provider 2015” by Investors Chronicle and FT Investment and Wealth Management Awards
- Online share dealing £9.95 and pay only £4.95 per trade when you place 10 deals or more per month
- Online fund dealing £4.95
- 0.20% fund custody charge (max £200 per annum)
- £25 pm minimum regular investment
Nutmeg Personal Pension
In a nutshell we learn about you, choose investments for you and then, with your contributions, build and manage your pension portfolio on your behalf
- You can start or transfer a pension online quickly and easily with our award-winning service
- Your own intelligent, diversified portfolio, regularly rebalanced and fully-managed by our expert team
- We generally invest only in high-quality, low-cost exchange traded funds
- All your investments in one place, plus instant 25% government top-up on regular personal net contributions
- If you ever have a question our support team are available by phone, web chat or email
- See how your investments are performing and exactly how much you’re paying — online, 24/7
- As with all investing, your capital is at risk. The value of your pension can fall as well as rise and you may get back less than you invest
- All for a low fee from 0.35% to 0.75% incl. VAT. There are also underlying investment charges, please see our fees page
- Eligibility to invest in a pension depends on personal circumstances
- Tax treatment depends on your individual circumstances and may be subject to change in the future. If you need help with pensions, seek independent financial advice
- You can’t withdraw money from a personal pension until you’re 55
Hargreaves Lansdown Vantage SIPP
Choose from more than 2,500 funds, shares, investment trusts, gilts, corporate bonds, ETFs and cash
- No SIPP set-up, transfer-in or fund-dealing fees. Online share dealing at £11.95 per deal, or as low as £5.95 per deal for active traders with a low annual charge to hold shares of just 0.45% (capped at £200 per annum)
- FREE research on popular investments
- Free mobile app to deal shares, access prices, indices, news and research.
- Voted Best SIPP Provider seven years running
- Up to 45% tax relief on your contributions
- A 25% tax-free lump sum. You can normally take up to a quarter of your SIPP without having to pay tax, after you’ve reached the age of 55
- SIPPs are a type of pension for people happy to make their own investment decisions
- Investments go down in value as well as up so you could get back less than you invest
- You can normally only access the money from age 55.
- Tax reliefs depend on your circumstances and the rules could change in the future
- If you’re unsure about the suitability, we recommend you ask for independent advice
The term ‘pension’ means different things to different people. However, what can be said with some certainty is that in the UK over the last 30 years successive governments have done their best to make the whole area of pensions as complex as possible – making it very difficult for the layperson to understand .
When we talk about pensions we might be referring to:
On 6th April 2016 the state pension system changed for men born after 6 April 1951 and for women born after 6 April 1953.
The UK government brought in a new single tier state pension of £155.65 per week (£8,092 a year) at the full level. Depending on the national insurance contributions you have made you may get more or less than this amount.
The existing sytem is based on 3 parts:
(a) Basic State Pension – As at April 2016 the full basic state pension is £119.30 per week per individual calculated on the number of years you have made national insurance contributions or acquired credits because of looking after children or people with disabilities.
(b) State Second Pension (formerly known as SERPS) – This is paid in addition to your basic state pension and is based on your earnings and national insurance contributions you have made whilst working.
(c) The Pension Credit is an income related benefit for pensioners in the UK which is means tested and is aimed at people who have no other income apart from the basic state pension.
There may be additional monies available if you are disabled, have caring responsibilities or certain housing costs, such as mortgage interest payments.
Depending on who you work for you will typically find one of the following types of schemes (some companies will have both) (a) Final Salary Schemes where the employer will provide the employee with a pension based on their final salary at retirement and their length of service. With these types of schemes the pension is often inflation protected in some way e.g. linked to retail price inflation. With final salary schemes the risk is on the employer to ensure that the pension assets will cover the pension payments required.
(b) Money Purchase Schemes – This is where the employee pays a proportion of salary into a pension scheme with usually a contribution also made by the employer. The final pension pot available to the employee at retirement will depend on the investment performance of the pension scheme. In this respect the employee bears the risk that if investment returns are not as good as expected then this will impact on the fund size at retirement. In addition to this the income that can be achieved by using the fund to buy an annuity will be affected by prevailing interest rates and life expectancy rates. Annuity rates fluctuate and good timing can make a difference to the income you receive in your retirement.
Allows anyone under the age of 75 to save money within their own private pension with contributions eligible for income tax relief.
Personal pension providers will make available a set range of different asset classes for you to choose from for investing and so the pension fund you build up will depend on the performance of your investment choices over time. At retirement you can take up to 25% of the fund tax free and the remainder of the fund must be used to generate an income – typically an annuity. Different types of personal pension include Self Invested Personal Pensions (SIPPs) which provide a broader range of investments for you to invest in.
Working out what level of pension we can expect in retirement may require expert pension advice. For many people a proper assessment of what pension to expect in retirement is left too late in the day. For many this lack of planning can have serious financial implications. What holds true is that we have to take responsibility for our own pension arrangements and be proactive in ensuring that our retirement provision is adequate in line with our expectations.