Wealthsimple pension review

Find out what we thought of the Wealthsimple private pension

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Wealthsimple is an investment provider. It offers individual savings accounts (ISAs), junior ISAs (JISAs) and pensions. The Wealthsimple pension is pretty similar to its other products, except you can’t withdraw until you turn 55.

Features of the Wealthsimple private pension

  • Combine your existing pension pots
  • Access qualified pension advisors
  • Have your portfolio built to match your risk profile
  • See your pension alongside your other accounts

Wealthsimple pension fees

The amount you pay depends on the amount of money you invest. This also determines which tier of account you have.

Amount investedAnnual fee
£0 – £100,0000.7%
More than £100,0000.5%

Wealthsimple account tiers

You don’t pay more for more features with Wealthsimple as other providers usually offer. Instead, the tier that you fit in and the features you receive are based on how much you invest.

Of course, this means that Wealthsimple makes more money from you, but you get a lower investment fee overall.

Wealthsimple BasicWealthsimple BlackWealthsimple Generation
Amount investedUp to £100,000Between £100,000 and £500,000More than £500,000
Fees0.7%0.5%0.5%
Customised portfolio
Investment advice
Automatic rebalancing
Dividend reinvestment
Pay in via direct debit
Investment consultations
Dedicated investment advisor
Ongoing portfolio monitoring
Portfolio and pension reviews

What can I invest in with a Wealthsimple pension?

With Wealthsimple, you choose between three different risk profiles

  • Conservative
  • Balanced
  • Growth

Depending on which one you choose, Wealthsimple will build a portfolio for you. Below is an example of how your portfolio might be built based on the different risk profiles available.

Pros and cons of the Wealthsimple pension

Pros

  • Custom portfolio based on your goals
  • Can choose a socially responsible portfolio
  • Easy and quick to set up

Cons

  • Can only invest in ready made funds
  • Higher fees than other pension providers

Compare SIPP providers

1 - 6 of 6
Name Product Brand description Min investment Min monthly investment Number of funds Transfer available Offer Link
Wealthify Pension
£50
£0
10 Portfolios

Capital at risk

Platform details
NO FEE
Interactive Investor SIPP
£0
£25
3000
Get £200 cashback when you open a SIPP. Offer ends 30 April. Capital at risk. T&Cs apply. Min £15k investment. New customers only.

Capital at risk

Platform details
Hargreaves Lansdown SIPP
Hargreaves Lansdown is the UK's biggest wealth manager. It's got three different retirement options. Capital at risk.
£100
£25
2500

Capital at risk

Platform details
BONUS
Penfold SIPP
£0
£0
4 Portfolios
Bonus of up to £1000 for your pension when tranferring to Penfold

Capital at risk

Platform details
Moneyfarm SIPP
Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.
£1,500
£0
7

Capital at risk

Platform details
AJ Bell SIPP
AJ Bell has two different pension options, a self managed pension and one that is managed for you. Capital at risk.
£1,000
£0
2000

Capital at risk

Platform details
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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.

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