Best private pension

Choosing the best private pension can give you a nice little boost of income in your retirement. Find out how to find the best one.

Updated

Fact checked

Private pensions are a great way to boost your income in retirement. Your pension is invested, so you have the opportunity for it to grow before you retire. You can also get some great tax benefits, as the government tops up your contributions, meaning that for every £80 put in, the government adds £20. Not bad.

We’ve ranked some of the best private pensions for a range of different features.

Best private pension for range of portfolios: Nutmeg

When it comes to personal pensions, it can be nice to have some choice. Nutmeg has the most options available with 10 different portfolios. All the portfolios have different risk profiles, so it’s easier to tailor it to what you’re looking for.

Nutmeg has pretty reasonable fees and great reviews for its mobile app on both Google Play and Apple App Store.

Best private pension for consolidating pensions: PensionBee

PensionBee is known for consolidating all of your old pensions in one place. You only need some basic information on the providers.

PensionBee’s account managers, which they appropriately call “BeeKeepers” help you transfer them to PensionBee. Once they’re all consolidated, you can keep track of your pot using the mobile app whenever you like by logging in to your “BeeHive”.

Best private pension for its app: Moneyfarm

Moneyfarm’s app is one of the best rated on Google Play and the App store. Reviewers rave about how simple and easy it is to use.

Moneyfarm rates quite highly for its features too. You can transfer other pensions in and help prepare for retirement with its pension calculator. While it isn’t the cheapest of the providers we’ve ranked, it isn’t the most expensive, either.

Best private pension for fees

For pension pots below £100,000: Aviva

Aviva has one of the lowest annual fees that we’ve ranked for smaller pension pots. You can choose between a personal pension and a self invested personal pension (SIPP) with Aviva. This means that you can choose ready made funds or you can choose your investments yourself, it’s completely up to you.

The costs are still low for larger pension pots, but there are cheaper options available so it’s worth sizing up your pot and working out what’s best for you.

Best for pension pots above £100,000: Moneybox and interactive investor

For personal pensions: Moneybox
If you’ve got a larger pension pot but would prefer not to opt for a self invested personal pension (SIPP) then Moneybox has one of the lowest fees available.
It doesn’t have very many portfolios to offer, but it does have a pension calculator, a nice look into the future feature and the option to consolidate your old pensions into it.

For SIPPs: interactive investor
If you want to go down the self invested personal pension route and have a large sum to invest then you might find that interactive investor’s set monthly fees are more suited to you. This isn’t cost effective for smaller pension pots but can work out cheaper for those over £100,000.

Compare pension providers

Data indicated here is updated regularly
Name Product Minimum investment Choose from Annual fee Brand description
Interactive Investor Pension
Any lump sum or £25 a month
Over 3,000 funds
£10/month
interactive investor is a flat-fee platform, which makes it cost effective for larger portfolios. Capital at risk.
Moneyfarm Pension
£1,500 (initial investment)
7 funds
0.35%-0.75%
Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.
AJ Bell Pension
£1,000
Over 2,000 funds
0.05-0.25%
AJ Bell has two different pension options, a self managed pension and one that is managed for you. Capital at risk.
PensionBee Pension
No minimum
7 funds
0.5% - 0.95%
Pension Bee is a newbie in the pension market. It helps consolidate your pension plans into one place. Capital at risk.
Hargreaves Lansdown Pension
£100 or £25 a month
2,500 funds
0-0.45%
Hargreaves Lansdown is the UK's biggest wealth manager. It's got three different retirement options. Capital at risk.
Saxo Markets Pension
Saxo Markets Pension
£10
Over 11,000 funds
No annual fee
Saxo Markets gives flexibility and control over your investment strategy. Capital at risk.
Penfold
Penfold
No minimum
4 portfolios
0.75-0.88%
Moneybox Pension
£1
3 funds
0.15% - 0.45% charged monthly
Manage your money with an easy-to-use Moneybox app. Capital at risk.
loading

Compare up to 4 providers

Data indicated here is updated regularly
Name Product Price per trade Frequent trader rate Platform fees Brand description
Fineco
£2.95
£2.95
Zero platform fee
Your first 100 trades are free with Fineco, T&Cs apply.
Fineco Bank is good for share traders and investors looking for a complete platform and wide offer. Capital at risk.
eToro Free Stocks
0% commission, no markup, no ticket fee, no management fee
N/A
Withdrawal fee & GDP to USD deposit conversion
Capital at risk. 0% commission but other fees may apply.
IG
0% commission on US shares, and £3 on UK shares
From £5
£0 - £24 per quarter
IG is good for experienced traders, and offers learning resources for beginners, all with wide access to shares, ETFs and funds. Capital at risk.
Hargreaves Lansdown Fund and Share Account
£11.95
£5.95
No fees
Hargreaves Lansdown is the UK's number one platform for private investors, with the depth of features you'd expect from an established platform. Capital at risk.
Degiro Share Dealing
£1.75 + 0.022% (max £5.00)
£1.75 + 0.022% (max £5.00)
Portfolio transfer fees (in & out)
Degiro is widely seen as one of the best low-cost share brokers, for people who are looking to trade regularly. Capital at risk.
loading

Compare up to 4 providers

Data indicated here is updated regularly
Name Product Minimum deposit Maximum annual fee Price per trade Brand description
Interactive Investor stocks and shares ISA
Any lump sum or £25 a month
£119.88
£7.99
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. Capital at risk.
Hargreaves Lansdown stocks and shares ISA
£100
0.45%
£11.95
Hargreaves Lansdown is the UK's biggest wealth manager. It's got everything you'll need, from beginners to experienced investors. Capital at risk.
Nutmeg stocks and shares ISA
£100
0.75%
£0
Nutmeg offers three types of portfolios. Choose the one that goes with your investment style. Capital at risk.
Moneyfarm stocks and shares ISA
£1500
0.75%
£0
Capital at risk.
Saxo Markets stocks and shares ISA
No minimum deposit requirement
0.12%
£8.00
Saxo Markets offers a wide access to a range of stocks, ETFs and funds. Capital at risk.
AJ Bell stocks and shares ISA
£500
0.25%
£9.95
AJ Bell is a good all-rounder for people who to choose between shares, funds, ISAs and pensions. Capital at risk.
Fidelity stocks and shares ISA
£1000 or a regular savings plan from £50
0.35%
£10.00
Fidelity is another good all-rounder, offering a good package at a decent price. Not suited for trading shares. Capital at risk.
Legal & General stocks and shares ISA
Legal & General stocks and shares ISA
£100 or £20 a month
0.61%
N/A
Legal & General is a big financial services company which offers insurance, lifetime mortgage, pensions and stocks and shares ISAs. Capital at risk.
loading

Compare up to 4 providers

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

How do I compare pension providers?

Deciding which private pension provider to go with will depend on what it is you need. Decide on these key things to get you started:

  • Are you looking for a self invested personal pension (SIPP)? You’ll want a SIPP if you want more control over your investments.
  • How much does the provider charge? Fees and charges come out of the growth of your investments. Compare how much each provider will charge you based on how much you are investing.
  • Exit fees. If you think you might want to transfer out at any point, you might have to pay exit fees.
  • Does the provider have a mobile app? This isn’t essential, but it’s nice to be able to check in from time to time.
  • How many portfolios are available? It’s nice to have some choice between portfolios, so typically, the more, the better.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

More guides on Finder

  • The 7 best stock trading apps and platforms in the UK

    We’ve taken a look at some of the best trading apps in the UK and explained who they’re best suited to. Our table compares fees and services too.

  • Coronavirus: Stocks to watch in Lockdown 2

    The UK is went back into lockdown on Thursday 5 November. We’ve compiled some lockdown stocks that might see some growth over the next month.

  • How to buy shares in Airbnb

    Airbnb has fluffed up up the cushions, wiped down the surfaces and opened its doors to public investors. Find out how to invest in Airbnb.

  • What is a private pension?

    Private pensions are set up separately from, and often in addition to, workplace and state pensions. Paying into a private pension has some great tax benefits and can boost your income in retirement.

  • Invest in Hang Seng

    Find out what makes up the Hang Seng index. We’ve compiled the different ways that you can invest in Hang Seng, such as through ETFs.

  • Invest in the DAX

    Find out how to invest in DAX, the 30 largest companies on the Frankfurt Stock Exchange. We’ve compiled some ETFs and other ways you can invest.

  • Best ways to invest £200 per month

    Wondering what to invest £200 in? Read our guide to learn what you need to consider first and find the best option for you.

  • Best way to invest £50,000

    Wondering what to do with £50k that has just dropped into your lap? Read our guide for some thoughts on how to spend it well.

  • Best way to invest £10,000

    £10k has just fallen into your lap and you’re not sure what to spend it on. Read our guide and find out how to build yourself a better financial future.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site