14 Best Private Retirement Pension Providers in the UK

14 Best Private Retirement Pension Providers in the UK

14 Best Private Retirement Pension Providers in the UK

If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).

Introduction

Read on to learn about the best private retirement pension providers in the UK.

There isn’t always a “best private retirement pension provider in the UK.” There is only a pension provider that is ideal for you and your needs. Spend some time figuring out what you want from a pension provider.

If you only want to save a small amount, a low-cost provider with a low minimum deposit might be helpful. A SIPP might be right for you if you’re interested in developing your own portfolio. Find a category that might be appropriate for you by looking through the ones listed above.

14 Best Private Retirement Pension Providers in the UK

1. AJ Bell Youinvest

One of the biggest online investment platforms in the UK is AJ Bell Youinvest, and its goal is to make investing as simple as possible for you. The first investment firm in the UK to provide an online SIPP was AJ Bell Youinvest.

Thousands of investments are available to investors, including UK and international shares, funds, investment trusts, and ETFs.

AJ Bell Youinvest offers two ways for you to build your pension portfolio, depending on your level of investing knowledge: For novice investors or those who prefer to choose a pre-made investment portfolio, you can choose one of the investment ideas on offer to receive some or a lot of assistance from AJ Bell Youinvest’s specialists.

Advanced or more experienced investors can create their own pension portfolios by selecting investments from thousands of options.

Both self-employed people and those looking to open a personal pension to supplement their workplace pension can benefit from the AJ Bell Youinvest SIPP. Additionally, AJ Bell Youinvest enables you to combine your current pensions into a SIPP so that you can view and manage everything in a single location. This aids in your understanding of the performance of your pension and the precise charges you’re making.

Opening an AJ Bell Youinvest SIPP is free, and you can invest as little as £1.50. For keeping investments, there is a yearly fee, but it is never greater than 0.25%.

A Stocks and Shares ISA, Lifetime ISA, Junior ISA, and Dealing Account are also available through AJ Bell Youinvest. AJ Bell Youinvest doesn’t give recommendations.

2. Aviva

Aviva is one of the best private retirement pension providers in the UK. You can invest your money through the Aviva Stakeholder Pension in a number of funds that give you access to a variety of assets, including stocks, shares, and real estate. Additionally, depending on your attitude toward risk, you can pick from a variety of high-risk to low-risk funds. 

With Aviva, you can begin your Stakeholder Pension with as little as £20 per month, and you can make one-time payments or regular payments into your pension plan, such as once per month. When necessary, you can alter that amount or stop and restart payments.

You will have a variety of options for how to use your pension savings once you reach the retirement age of 55 (57 from 2028), including taking an income, a lump sum, or a combination of both of these

You can establish a pension fund for your children or grandchildren using the Aviva Stakeholder pension. For each child, you may deposit up to £2,880 annually.

You only pay an annual fund charge to Aviva, which is capped at 1%. Additionally, there are no fees associated with setting up your investment or moving money between funds. For a separate fee, Aviva provides financial guidance.

14 Best Private Retirement Pension Providers in the UK
Aviva logo. Image from Wikipedia.

3. Bestinvest 

About 2,500 funds, UK shares, investment trusts, and ETFs are available on the Bestinvest investment platform in the UK.

Depending on your level of investing knowledge, Bestinvest offers two ways for you to build your pension pot: For novice investors or those who prefer to choose a pre-made investment portfolio, you can build your pension pot by choosing one of Bestinvest’s pre-made investments.

The Bestinvest team designed and managed these completely diversified investments. There is nothing more for you to do after choosing one. Advanced or more experienced investors can create their own investment pension portfolio by selecting from a variety of funds, shares, ETFs, and ITs.

You can use Bestinvest’s free guides and articles if you need any inspiration, and they also have an investment search tool that makes it simple to browse and filter all of the investments. They are well known for their Spot the Dog guide, which provides a list of funds with poor performance that you should probably steer clear of.

The Bestinvest SIPP has no set-up fees and no fund dealing fees, and when you transfer your pensions to them, Bestinvest will pay up to £500 toward your exit fees (terms apply). You can invest through a Stocks and Shares ISA, General Investment Account, or SIPP with Bestinvest.

4. Freetrade

Freetrade is one of the best private retirement pension providers in the UK. For its trading app, Freetrade offers a paid add-on called the Freetrade pension. Your investments are put into a tax wrapper for a monthly fee of £9.99. Freetrade Plus can be added to your account for just £7 more (regularly £10).

The Freetrade pension is a self-invested personal pension, meaning you have the freedom to create your own pension portfolio; if you’re a confident investor, this might work for you. Like with all personal pensions, the government will add an additional 25% of your contributions as tax relief to your pension pot.

With Freetrade, trades are commission-free; however, there are a few extra costs, like foreign exchange fees. The only other factor you need to think about is the monthly cost.

5. Hargreaves Lansdown 

The largest investment platform in the UK and a member of the FTSE 100 is called Hargreaves Lansdown. You can create a SIPP portfolio with Hargreaves Lansdown using more than 2,500 funds, UK and foreign shares, investment trusts, and other options.

Depending on your level of investing knowledge, you can choose one of two ways to build your pension portfolio with Hargreaves Lansdown: For novice investors or those who prefer to choose a pre-made investment portfolio, you can build your pension pot by selecting from a variety of pre-made options, and the team of experts at Hargreaves Lansdown will handle the day-to-day investment decisions for you.

Advanced or more experienced investors can create their own pension portfolios by selecting from a variety of funds, shares, and other investments.

Setting up and maintaining the Hargreaves Lansdown SIPP are both free of charge. For keeping investments, there is a yearly fee, but it is never greater than 0.45%. Before investing, please check the annual fees associated with some of the investments on offer.

The purchase and sale of funds is also free. The type of investment and frequency of trading affect additional dealing fees. Hargreaves Lansdown provides a financial advice service for a fee if you require assistance choosing investments from a financial advisor.

A Stocks and Shares ISA, Lifetime ISA, Junior ISA, and Fund and Share Account are additional products offered by Hargreaves Lansdown.

6. Interactive Investor

The top flat-fee investment platform in the UK is Interactive Investor, which offers more than 40,000 investments, including UK and international shares, funds, investment trusts, and ETFs. 

You can create a pension through the Interactive Investor Pension in one of two ways, depending on your level of investing knowledge: Quick-start Funds are a simple way to get started investing where you can pick from six low-cost funds created by the team of experts at Interactive Investor.

This is a good option for novice investors or those who prefer to choose a ready-made investment portfolio.

Advanced or more experienced investors can create their own pension portfolios by selecting from a variety of funds and shares. You can consolidate all of your pensions into a single SIPP with Interactive Investor for easier retirement planning.

Every month, you also receive a free trade that you can use to buy or sell any investment. There is no additional cost for Interactive Investor to offer you a variety of options for drawing income from your pension when you reach retirement age of 55 (57 from 2028).

You will always know how much you will pay because Interactive Investor has a fixed monthly fee of £12.99. Your percentage fee will decrease the larger your pension pot. The Stocks and Shares ISA, Trading Account, and Junior ISA are just a few of the additional products offered by Interactive Investor.

7. Legal & General

If none of the newer investment companies or apps pique your interest in pension savings, you might want to think about Legal and General, which has been around the longest of all the companies we’ve reviewed. It was established in 1836 and now provides pensions to more than 629,000 people.

Only Legal and General offers a selection of ready-made portfolios, with five options available. You can select portfolios that will automatically adjust as you get closer to retirement, saving you the time and effort of doing it yourself.

14 Best Private Retirement Pension Providers in the UK
Legal & General logo. Image from Wikipedia.

8. Moneyfarm

Moneyfarm is one of the best private retirement pension providers in the UK.

Moneyfarm is a UK-based robo advisor that creates a customized investment strategy for you based on your risk tolerance. Seven globally diversified, risk-rated portfolios, including ones with ethical investments, are available to investors.

Exchange-traded funds (ETFs) and other passive trackers are included in each investment portfolio that the Moneyfarm team actively manages. Moneyfarm’s investment consultants offer customers free, individualized digital financial advice. You can communicate with your consultant via chat, phone, email, or in-person meetings.

If you let Moneyfarm know when you intend to retire, the team will manage your portfolio to coincide with that date, lowering your risk as it gets closer. Transferring your current pensions to Moneyfarm is simple.

Simply enter your information online or in an app. After speaking with your current provider, Moneyfarm will transfer your pension benefits to your Moneyfarm account.

Depending on your service provider, the procedure usually takes 3 to 4 weeks and is as paperless as possible.

Moneyfarm will offer a number of flexible options for drawing income from your pension once you reach retirement age, which is currently 55 (57 as of 2028). There is no additional cost for this, which is known as a pension drawdown.

Depending on the size of your portfolio, Moneyfarm assesses an annual account management fee starting at 0.75% and decreasing to 0.35%. The average annual investment fund fee is 0.2%, and the market spread has an annual impact of about 0.09%.

A General Investment Account and a Stocks and Shares ISA are among the additional products offered by Moneyfarm.

9. Netwealth

A wealth management platform for high-net-worth individuals is called Netwealth.

The main objective of Netwealth is to assist you in managing your finances efficiently while generating a steady income over the medium to long term that could assist with significant financial events like school expenses, retirement, or elderly care.

The wealth management team at Netweath will assist you in defining your goals once you join. This procedure identifies the risk levels and account types that work best for you. The group will also give you financial planning advice and follow up with you frequently.

Choose from seven pre-built, globally diversified portfolios with Netwealth that are designed to maximize return for your selected risk level.

To sign up as a client of Netwealth, you must invest a minimum of £50,000. However, this may consist of various account types, cash deposits, and transfers from other providers. For an ISA, the minimum portfolio size is £5,000, and for a JISA, it is £1,000.

No dealing fee is charged, but the typical annual investment cost is about 0.30%. Additional fees apply. A Stocks and Shares ISA, Junior Stocks and Shares ISA, General Investment Account, and SIPP are among the products offered by Netwealth.

10. Nutmeg

Another app-only investment provider, Nutmeg, has just begun to provide pensions. You can only select from pre-made portfolios, unlike Freetrade or Interactive Investor. For those who want to contribute to a pension but lack the confidence (or time) to put together their own investment portfolio, this is fantastic. There are many portfolio options available at Nutmeg, including fully managed and ethical portfolios.

The ability to combine your existing pensions into one portfolio is one fantastic feature of Nutmeg. This is excellent if you’ve held a number of jobs, each with a workplace pension offered by a different company.

11. Penfold

Penfold is one of the best private retirement pension providers in the UK. Penfold is a cutting-edge pension provider that gives clients a quick and simple way to build and contribute to their pension pots. Whether you are employed, self-employed, or running your own business, the platform was created with the digital world in mind.

You can open a private pension with Penfold, a self-employed pension, or be automatically enrolled through your employer.

Depending on your objectives and values, you can select one of four plans after signing up: Sharia, Standard, Lifetime, and lifetime. It only takes five minutes to set up, and you can always change how much you contribute.

Penfold can track and transfer your previous pensions even if you are unsure of the specifics, allowing you to consolidate all of your pensions from prior employment in a single location.

A team of experts is available to help you with any questions you may have about retirement or your pension if you ever need clear, non-jargon answers.

When you establish your pension with Penfold, there is no required minimum deposit, and you are free to pay nothing each month if you prefer. The least amount Penfold can handle from a contribution is £10.

Depending on the plan you select, Penfold charges an annual fee ranging from 0.77 to 0.88 percent. The fee is reduced to 0.4% or 0.53% on the portion of your savings over this amount if your pension pot is larger than £100,000, depending on the plan you choose.

12. Saxo Markets

Saxo Markets is one of the best private retirement pension providers in the UK. You can invest in more than 60,000 financial products from stock markets all over the world, including London, New York, Hong Kong, and more than 50 other global markets, through Saxo Markets, the UK division of Saxo Bank, a significant European bank and investment platform.

You can use more than 11,000 international stocks, ETFs, and bonds to create your pension portfolio with Saxo Markets. Choose from one of the managed portfolios available, where Saxo experts monitor the markets and look after your investments on your behalf. Managed portfolios are a good option for novice investors or those who prefer a ready-made investment portfolio.

A managed portfolio typically costs 0.95% annually (including fund costs). Investors with more experience or confidence can select from the variety of financial products available and create their own portfolios.

All registered users of Saxo Markets have access to a personal account manager, and opening a SIPP with them is free.

Different transaction costs are divided into trading tiers at Saxo Markets. You can upgrade your tier to receive lower transaction fees if you intend to trade in large volumes.

The most expensive trading tier, known as the Classic, charges 0.10% (a minimum of £8) for UK stocks and US$0.02 (a minimum of US$10) for US stocks per deal. There are extra costs. 

Additionally, you can find information about trading fees for various exchanges on the Saxo Markets website, including those in Europe and Asia. The product lineup from Saxo Markets consists of a Trading Account, Stocks and Shares ISA, and SIPP.

14 Best Private Retirement Pension Providers in the UK
Saxo Markets logo. Image from Investopedia.

13. Standard Life

With the Standard Life Stakeholder Pension, you have a choice of investing in more than 30 funds and two lifestyle profiles. At any given time, you may invest in up to 12 funds, but if you choose a Lifestyle Profile, you may only pair it with a fund that makes a profit.

Standard Life is one of the best private retirement pension providers in the UK.

The Lifestyle Profiles are pre-made investment portfolios that place your funds in investments and rebalance them as you approach retirement in an effort to maximize your returns relative to your objectives.

In the event that you do not wish to select a fund, Standard Life will automatically invest your funds in a Lifestyle Profile based on your objectives and risk tolerance.

Every year, Standard Life assesses a management fee equal to 1% of the value of the funds you have invested in.

14. Vanguard

A well-known low-cost investment platform, Vanguard offers over 75 own-brand funds, including ETFs, active funds, and index funds. While Vanguard does not provide stocks and shares, it does provide a variety of ETFs for those who are interested in exchange-traded securities. 

Depending on your level of investing knowledge, the Vanguard SIPP gives you the option of building your pension in one of two ways: either by choosing one of the Target Retirement funds, which give you access to thousands of bonds and shares in a single investment, or by using a ready-made investment portfolio if you’re a beginner investor or prefer that option.

An investor who is knowledgeable or self-assured can create their own pension portfolio by selecting from over 75 different Vanguard funds.

Transferring your current pensions to Vanguard is very simple and cost-free, though your current provider may charge you a fee, so be sure to ask them first.

You need at least £100 a month or a one-time contribution of £500 to open a Vanguard SIPP. A 0.15% management fee is charged annually, with a maximum of £375. Please check these charges prior to investing as some of the funds on offer have additional fees.

A Junior ISA, General Account, Stocks and Shares ISA, and Personal Financial Planning are some of the additional products offered by Vanguard.

Which among the best private retirement pension providers in the UK is the best?

Here are a few of the best private retirement pension providers in the UK:

  • AJ Bell Youinvest – A wealth of investment opportunities, ideas, and research.
  • Interactive Investor – One free trade per month; extensive research
  • Hargreaves Lansdown – A wealth of investment opportunities, research, and advice.
  • Penfold – SIPP & Workplace Pensions; Available Ethical Investments
  • Moneyfarm – Provides financial advice as well as ethical investments.
  • Vanguard – Provides financial planning as well as educational resources.

Pained by financial indecision? Want to invest with Adam?

Adam is an internationally recognised author on financial matters, with over 631.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

Add a comment

*Please complete all fields correctly

Related Blogs

Cambodia pension fund
Japanese pension system
WhatsApp icon