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.

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

Name Product Minimum investment Choose from Fee for a £50,000 pension pot Brand description
Interactive Investor Pension
Any lump sum or £25 a month
Over 3,000 funds
Annual fee: £239.88, fund fees: £50-500
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
Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.
AJ Bell Pension
Over 2,000 funds
Annual fee: £125, includes fund fees
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
9 funds
Annual fee: £250-475, includes fund fees
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
Annual fee: £225 (£200 cap if holding shares), fund fees included
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
Over 11,000 funds
No annual fee
Saxo Markets gives flexibility and control over your investment strategy. Capital at risk.
No minimum
4 portfolios
Annual fee: £375-455, fund fees included
Moneybox Pension
3 funds
Annual fee: £225, fund fee: £60
Manage your money with an easy-to-use Moneybox app. Capital at risk.

Compare up to 4 providers

Name Product Price per trade Frequent trader rate Platform fees Brand description
UK: £2.95
US: $3.95
EU: €3.95
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. The minimum deposit with Fineco is £0. Capital at risk.
eToro Free Stocks
Capital at risk. 0% commission but other fees may apply. The minimum deposit with eToro is $200.
Hargreaves Lansdown Fund and Share Account
Hargreaves Lansdown is the UK's number one platform for private investors, with the depth of features you'd expect from an established platform. The minimum deposit with HL is £1. Capital at risk.
Degiro Share Dealing
UK: £1.75 + 0.014% (max £5)
US: €0.50 + $0.004 per share
Degiro is widely seen as one of the best low-cost share brokers, for people who are looking to trade regularly. The minimum deposit with Degiro is £0. Capital at risk.
interactive investor Trading Account
£7.99 (with one free trade per month)
£9.99 per month
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. The minimum deposit with ii is £0. Capital at risk.

Compare up to 4 providers

Name Product Minimum deposit Maximum annual fee Price per trade Brand description
InvestEngine stocks and shares ISA
Offer - £50 welcome bonus for new customers. Subject to minimum investment. T&Cs apply. Capital at risk.
Moneybox stocks and shares ISA
0.45% and £1 monthly subscription fee (free for first 3 months)
Moneybox offers a smart and simple way to invest. Sign up in minutes and start investing with £1 via their award-winning app. Capital at risk.
interactive investor stocks and shares ISA
Any lump sum or £25 a month
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. Capital at risk.
Nutmeg stocks and shares ISA
Nutmeg offers three types of portfolios. Choose the one that goes with your investment style. Capital at risk.
Hargreaves Lansdown stocks and shares ISA
Hargreaves Lansdown is the UK's biggest wealth manager. It's got everything you'll need, from beginners to experienced investors. Capital at risk.
Moneyfarm stocks and shares ISA
Moneyfarm helps you meet your investment goals with fully-managed portfolios designed around you. Capital at risk.
Fidelity Stocks and Shares ISA
£1000 or a regular savings plan from £50
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
Legal & General is a big financial services company which offers insurance, lifetime mortgage, pensions and stocks and shares ISAs. Capital at risk.
AJ Bell Stocks and Shares ISA
AJ Bell is a good all-rounder for people who to choose between shares, funds, ISAs and pensions. Capital at risk.
Saxo Markets stocks and shares ISA
No minimum deposit requirement
Saxo Markets offers a wide access to a range of stocks, ETFs and funds. Capital at risk.

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.

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