1. PensionBee: Best personal pension provider for ease of use
PensionBee is a dedicated pension service that focuses on providing pension savers with a holistic, quick, and easy personal pension including help consolidating all your old pensions into one, easy to manage pension. PensionBee offer seven pension funds to choose from including their newly launched Fossil Fuel Free Plan and the Future World Plan for ethical investors.
This really is the perfect solution for people with limited time and experience who would rather have the entire process handled for them.
2. AJ Bell: Best personal pension provider for small pension pots
AJ Bell represent one of the best value pensions available in the UK market. For smaller pots their fees start at just 0.25% and the fund dealing costs come in at only £1.50. They consistently come in as the cheapest SIPP for investors who like to build their own portfolio from a range of shares, investment trusts, or ETFs.
There are also excellent ready-made options for less confident investors and AJ Bell have won the Which Recommended Provider for SIPPs for the last two years in a row.
3. Penfold: Best personal pension provider for self-employed people
Penfold is a provider that markets itself as being specifically aimed at providing pensions for self-employed people. Everything at Penfold is designed to save you time and make saving for your retirement as easy as possible. Opening an account can be completed in 5 minutes and once up and running Penfold offer a completely flexible solution that can adapt to changes in your income.
Penfold also offer support locating and consolidating existing pensions, as well as advice on the best plan for you and how much capital you should be looking to set aside.
4. Interactive Investor: Best personal pension provider for large pension pots
Interactive Investor is one of the few companies that offer a flat fee, making them the most economical option for people who have already accumulated a large pension pot. They also have an extensive list of available investments making them a perfect choice for experienced investors who are apt at picking and choosing their own investments to build a diversified portfolio.
There are also a range of funds to choose from should you require more of a ready-made option, including the Vanguard Lifestrategy funds which should you have more than £160,000 invested, could work out cheaper at Interactive Investor than at Vanguard.
5. Bestinvest: Beginner-friendly with lots of options
Bestinvest is a UK-based platform that offers a wide range of investment options, including over 2,500 funds, shares, ETFs, and investment trusts.
If you’re not sure where to start or prefer a ready-made portfolio, Bestinvest offers fully diversified options that are created and managed by their team. Alternatively, you can choose from a wide selection of individual investments and build your own portfolio.
Bestinvest also provides a search tool to help you browse and filter through their options, as well as free guides and articles for inspiration.
6. Hargreaves Lansdown: DIY & Ready-made portfolios
Hargreaves Lansdown is a leading investment platform in the UK and a FTSE 100 company. With them, you can create a self-invested personal pension (SIPP) portfolio using a variety of options including over 2,500 funds, shares, investment trusts, and more.
If you’re new to investing or prefer a ready-made portfolio, Hargreaves Lansdown offers a range of expertly-managed options. Alternatively, you can choose from a wide selection of individual investments and build your own pension portfolio.
Hargreaves Lansdown’s self-invested personal pension (SIPP) is a cost-effective option for managing your retirement savings. It’s free to set up and has low annual charges for holding investments (never more than 0.45%).
Some individual investments may have their own annual charges, so be sure to check before making a decision.
In addition to the SIPP from Hargreaves Lansdown, they also offer a variety of other investment options including a stocks and shares ISA, Lifetime ISA and Junior ISA.
7. Moneyfarm: Ethical investments plus financial advice
Moneyfarm is a UK-based robo-advisor that provides personalised investment plans based on your personal risk preferences.
You can choose from seven diversified portfolios, including ethical options, which are actively managed by the Moneyfarm team using a combination of ETFs and other passive trackers.
As a Moneyfarm customer, you’ll have access to free guidance from experienced professionals backed by ongoing digital investment advice.
If you let Moneyfarm know your target retirement date, they’ll adjust your portfolio to reduce risk as you get closer to that goal.
It’s also very easy to transfer your existing pensions to Moneyfarm – simply provide your details in-app or online, and they’ll handle the process.
When you reach your retirement age, Moneyfarm offers flexible options for accessing your pension income through a process called pension drawdown, at no extra charge.
8. Netwealth: Best for high-net-worth individuals
Netwealth is a platform for high-net-worth individuals that aims to help you manage your money in a cost-effective way and generate a secure income over the long term to support important financial events such as retirement, school fees, or elderly care.
When you sign up with Netwealth, their team of wealth managers will work with you to define your financial goals and determine the best combination of risk levels and account types for you. They will also help you put a financial plan in place and check in with you regularly.
Netwealth offers seven globally diversified portfolios to choose from, which aim to maximise returns at your chosen level of risk.
With a free consultation with a qualified adviser, you can maximise your retirement potential by exploring all of your options and getting personalised advice on the best path forward.