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 Pensions cannot usually be withdrawn until age 55 (increasing to 57 in 2028).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
Retirement Annuities
What are retirement annuities?
A retirement annuity contract was a type of pension plan that was available to individuals prior to 1 July 1988. This type of retirement plan is sometimes known as a Section 226 contract, and you may have one if, for example, you were in employment before July 1988 but your employer did not offer you membership of a workplace pension scheme, or if you were self-employed.
After the cut-off date of 1 July 1988, no new retirement annuity contracts could be taken out, and they were replaced with personal pension plans. However, if you have a retirement annuity contract, you can continue to contribute to it, as long as the provider allows you to do so. Retirement annuity contracts started before 1 July 1988 can carry on until the individual retires.
New regulations came into force on 6 April 2006. Prior to 5 April 2006, there were a number of historical pension schemes with various rules surrounding aspects such as the maximum tax free lump sum, when you could retire, and how you could receive your income at retirement. This was a complicated system to navigate for pension advisers, pension companies and customers alike. As a result of pensions simplification in 2006, most pension scheme rules have been amalgamated.
How did retirement annuities differ from personal pensions?
Before the change to the rules, all retirement annuities were paid with tax taken off at the basic income Tax rate. Now nearly all retirement annuities are taxed through PAYE (Pay As You Earn), in the same way as personal or workplace pensions.
One of the main potential advantages of retirement annuity contracts over personal pensions was their potential for a higher tax free lump sum. The tax free lump sum at retirement was not as simple as a quarter of the pension fund at retirement, as is the case with personal pension plans. The tax free lump sum was based on a maximum of three times the remaining pension income at retirement, which meant that some individuals stood to receive a lump sum of up to a third of the value of their pension pot upon retirement. This had the potential to provide an advantage over the 25% limit imposed by newer pension schemes. However, since the change in the rules, retirement annuities provide the same maximum 25% tax free lump sum as personal pensions.
Since the change in the rules, there is now very little difference between retirement annuity contracts and personal pensions. This can mean that many of the benefits of such schemes no longer apply, so if you hold a retirement annuity contract it could be worth getting it reviewed by an adviser to ensure that you are maximising your pension pot.
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