Compare private pension providers in the UK. Check private pension costs from popular providers and choose an account with the best investment portfolios, lowest costs, and best features for your needs.
Private Pension Provider | What can you invest in this private pension? | Private Pension Charges | More Info |
---|---|---|---|
Shares: Yes Funds: Yes Bonds: Yes ETFs: Yes Ready-made portfolios Yes | Account Fee: £9.99 monthly SIPP Fee: £10 monthly Dealing fee: £7.99 Exit Fees: £0 Minimum Investment: £1 | See Offer Special Offer: No SIPP admin fees for 6 months when you open a SIPP (saving £60) | |
![]() ![]() ![]() | Shares: No Funds: Yes Bonds: No ETFs: No Ready-made portfolios Yes | Account Fee: 0.5% yearly SIPP Fee: £0 Dealing fee: £0 Exit Fees: £0 Minimum Investment: £1 | See Offer |
Shares: No Funds: No Bonds: No ETFs: No Ready-made portfolios Yes | Account Fee: 0.35% yearly SIPP Fee: £0 Dealing fee: £0 Exit Fees: £0 Minimum Investment: £1,500 | See Offer | |
![]() ![]() ![]() Nutmeg Investments Pension | Shares: No Funds: Yes Bonds: No ETFs: No Ready-made portfolios Yes | Account Fee: 0.75% yearly SIPP Fee: £0 Dealing fee: £11.95 Exit Fees: £0 Minimum Investment: £500 | See Offer |
Shares: Yes Funds: Yes Bonds: Yes ETFs: Yes Ready-made portfolios Yes | Account Fee: £24 quarterly SIPP Fee: £205 yearly Dealing fee: £3 Exit Fees: £0 Minimum Investment: £1 | See Offer Your capital is at risk | |
Shares: Yes Funds: Yes Bonds: Yes ETFs: Yes Ready-made portfolios Yes | Account Fee: 0.45% yearly SIPP Fee: £0 Dealing fee: £11.95 Exit Fees: £0 Minimum Investment: £100 | See Offer |
Private Pension FAQs:
What is a private pension?
Unlike a company or state pension, a private pension is something you set up
yourself to provide an income in retirement. A private pension is run by a company to
whom you pay fees to invest the money on your behalf. A private pension is typically
money purchase or defined contribution which means you carry the investment risk,
and your total fund could go down as well as up. Contributions to a private pension
are entitled to receive tax relief.
The amount of control you have over your pension investments will depend on the
type of private pension you set up.
Who can pay into a private pension?
Usually contributions come from you and or your employer, but anyone can pay into
your fund and you can pay into anyone else’s. For example, you can pay into your
spouse’s, while grandparents might choose to pay into their grandchildren’s pensions. It does not matter if you are employed, self-employed or not working, you
can still pay into a pension either regularly or with a lump sum.
How much does a private pension cost?
All pension funds charge an annual management charge (AMC). This varies across
providers and products, but can be as high as 2% or as low as a handful of basis
points. It is important to understand the fees you are paying as these will eat into
your final retirement fund.
Other fees might include platform charges which cover some of the fund
management costs. You may also be charged a fee to leave the fund or even to
make contributions.
Make sure you read the small print and shop around.
What can you invest in a private pension?
You can receive tax relief on contributions of up to £40,000 a year. These can come
from your or your employer. For those already receiving an income from the pension
pot, annual contributions are limited to £4,000
About The Author
Gill has 14 years’ experience in financial journalism, has been an editor on an FT publication and produced articles for Financial Times, Financial News, Pensions Expert, Pensions Insight, National Association of Pension Funds, Portfolio Institutional, Engaged Investor, IPE