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Learn moreSaving for retirement made simple
Ready to save for your retirement but not sure which investments to pick? Or just want someone else to take care of it?
We can do it for you in our Personal Pension. You get all the tax benefits of saving into a pension without having to choose and manage your own investments.
We pick your funds based on how you feel about investment risk and when you plan to start taking money from your pension.
Then we make sure your investments stay at the right risk level for you, every step of the way.
Open an account in 3 steps
1. You answer a few questions
We’ll find out how you feel about risk and how much you want to invest.
Get started with a minimum £500 investment. You can also add a monthly payment from £100 if you want to.
Or you can get started by transferring a pension to us. There’s no minimum transfer value.
2. You get an investment plan
We’ll match you with one of 5 portfolios.
You’ll also get to see how your money could grow over time.
3. We do the rest
We’ll monitor your investments regularly and make changes to keep you to the right level of risk.
We’ll gradually reduce your risk as you get closer to the age you plan to start taking money from your pension.
Finding the right level of risk – for you
It’s important that your investments match how you feel about risk.
You might be happy taking more risk so your pension could grow more. Maybe you prefer less risk as you’re more interested in protecting your savings. Or you might be somewhere in the middle.
So we ask you a few easy questions when you apply online to find out how you feel about risk. Then we match you with one of 5 portfolios. Each is tailored to a different risk level and made up of low-cost index funds.
See how your money could grow
Your investment plan is based on how you feel about investment risk, when you plan to start taking money from your pension and how much you’ll invest.
It will match you with one of 5 portfolios and tell you what your pension could be worth when you start to take it.
Sticking to the plan, every step of the way
We check your investments regularly and rebalance your portfolio if it’s not at the right risk level for you. This is important as changes in the market can affect your investments.
Guiding you towards retirement
As you approach the age you plan to start taking your pension, we make sure your mix of investments is less risky. This is because they’ll have less time to recover their value if there’s a dip in the market.
Why choose us
Straightforward
We work out how you feel about risk and match you with the right investments.
Then we monitor everything and make changes when needed.
50 years of experience
We’ve been taking a stand for investors for over 50 years. Now over 50 million clients worldwide invest with us for their future.
Value to investors
That’s real human support and expert investment management, all at low cost.
We keep our fees low so you keep more of your returns.
Need to know
You can get started by transferring a pension to us. There’s no minimum pension value.
You cannot transfer a pension that you’ve already started taking money from.
When this happens, you’ll still have a Personal Pension, but you’ll need to choose your investments and manage them yourself. We do not currently choose and manage investments for pensions that are in drawdown.
You can discuss all your options for taking your pension with our pension specialists.
Make your investments work harder with our experts taking care of it for you for a low fee:
- management fee 0.20 to 0.30% depending on your account
- account fee 0.15% of your investments, capped at £375 per year
- fund fee 0.16% on average, including transaction costs. Fund fees may vary depending on your investment portfolio
Check if this could be right for you...
You can make a minimum single payment of £500 or start a transfer to set up your Personal Pension. There’s no minimum transfer value.
You do not want to take money out of your pension for at least 5 years.
You plan to remain a UK resident for at least a year.
You are happy for us to choose and manage your investments for you. You will not be able to buy and sell investments yourself.
You do not plan to use the whole of your pension to buy an annuity. An annuity pays you a retirement income for a fixed period or the rest of your life.
The cost of investing
How much you’re charged depends on the value of your invested balance, type of account and the fund charges.
Our fees
|
Any balance |
Account fee (from 28 February 2025)
|
0.15% a year (max £375 a year) |
Fund management fee | 0.16% a year on average |
Management fee | 0.30% a year |
You can find out more about what our account fees are until 28 February 2025.
You can find our fund management fees for each fund on our fees and charges page.
What this could mean for you if you invested:
If you invested £10,000 in a Managed pension
Account fee £15 a year |
+ |
Fund management cost £16 a year |
+ |
Management fee £30 a year |
= |
Total £61 a year |
- These examples are only to give you an indication. We’ve used an average fund management fee, which may vary depending on your portfolio.
- Your account fee may be different where you have both Managed and Self Managed accounts. Find out more about our account fees.
If you invested £10,000 in a Self-managed pension
Account fee £48 a year |
+ |
Fund management cost £28 a year |
= |
Total £76 a year |
These examples are only to give you an indication. We assume you invested into one of our Target Retirement Funds. We’ve shown average fund management fees, which may vary depending on your portfolio.
Why is the account fee different for our Managed Pension?
We’re committed to helping individuals throughout their investment journey – from getting started to achieving their lifetime goals. For our Managed Pension service, we keep our costs as low as we can to give more people a helping hand with investing their money.
Are you more of a hands-on investor?
You can pick your own investments for your Personal Pension. Choose from our full range of over 85 or keep things simple with a ready-made portfolio.

Over 45 years of experience, just a phone call away
If you need to speak to someone, our investment experts are here to help. Whether it’s a specific question about your investments, or to talk about the latest market events.
Important documents
Read these documents carefully before you apply to open an account or invest.
Have another question?
Search our FAQs, ask our chatbot or send us a message.
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