Wealthsimple penson review | 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 invested	Annual fee
£0 – £100,000	0.7%
More than £100,000	0.5%

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 Basic	Wealthsimple Black	Wealthsimple Generation
Amount invested	Up to £100,000	Between £100,000 and £500,000	More than £500,000
Fees	0.7%	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 - 7 of 7

Name	Product	Brand description	Min investment	Min monthly investment	Number of funds	Offer	Link
NO FEE Interactive Investor SIPP Interactive Investor SIPP	NO FEE	interactive investor is a flat-fee platform, which makes it cost effective for larger portfolios. Capital at risk.	£0	£25	3000	Open a SIPP and pay no SIPP subscription fee for your first 6 months. Terms apply. Capital at risk.	Go to site Capital at risk Platform details	loading Fetching your data...
Freetrade SIPP Freetrade SIPP			£0	£0	6000		Go to site Capital at risk Platform details	loading Fetching your data...
Hargreaves Lansdown SIPP 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		Go to site Capital at risk Platform details	loading Fetching your data...
BONUS Penfold SIPP Penfold SIPP	BONUS		£0	£0	4 Portfolios	Bonus of up to £1000 for your pension when tranferring to Penfold	Go to site Capital at risk Platform details	loading Fetching your data...
Moneyfarm SIPP Moneyfarm SIPP		Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.	£1,500	£0	7		Go to site Capital at risk Platform details	loading Fetching your data...
AJ Bell SIPP 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	£1	2000		Go to site Capital at risk Platform details	loading Fetching your data...
Saxo Markets SIPP Saxo Markets SIPP		Saxo Markets gives flexibility and control over your investment strategy. Capital at risk.	£10	£0	11000		Go to site Capital at risk Platform details	loading Fetching your data...

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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.

Thank you for your feedback!

Zoe Stabler DipFA

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Zoe is a senior reporter at the investing data provider With Intelligence. She was previously a senior writer at Finder specialising in investment and banking and during this time, she joined the Women in FinTech Powerlist 2022. Zoe has a BA in English literature and a Diploma for Financial Advisers. She has several years of experience in writing about all things personal finance. Zoe has a particular love for spreadsheets, having also worked as a management accountant. In her spare time, you’ll find Zoe skating at her local ice rink.

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Wealthsimple pension review

Find out what we thought of the Wealthsimple private pension