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 Price per trade Frequent trader rate Platform fees Brand description
eToro Free Stocks
£0
N/A
£0
Capital at risk. 0% commission but other fees may apply. The minimum deposit with eToro is $50.
IG Share Dealing
UK: £8
US: £10
EU: 0.1% (min €10)
UK: £3
US: £0
EU: 0.1% (min €10)
£0
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
£0
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
N/A
£0
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)
£0
£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.
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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

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  • Pensions for self-employed individuals

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  • State pension vs private pension

    The state pension and private pensions are separate but complementary ways to save for retirement.

  • SIPPs vs personal pension

    The main differences between SIPPs and standard personal pensions are investment choice and price.

  • Workplace pensions

    Tax relief and employer contributions mean that saving into a workplace pension is an invaluable way to bolster your retirement income.

  • How to consolidate pensions

    Moving multiple pensions into one scheme could cut costs and save time. We explain the pros and cons of consolidating your pension.

  • Defined contribution pension schemes

    Defined contribution, or money purchase, pensions are the most common way to save for retirement. Here’s what you need to know.

  • How to find old pensions

    It’s easy to lose track of old pensions; we explain how to trace lost pensions and what to do when you find them.

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