Most people do not choose their pension provider; their employer does. But you can choose where old pots live and what you pay. Here is what the five biggest names actually charge, and what their customers say.
Fees verified July 2026. Pension transfers are a big decision; this is information, not advice.
Looking for minimal fees? Some savers prefer a self-invested personal pension (SIPP) on a low-cost platform, where you pick the investments rather than accepting a provider's default fund. See our broker comparison for platform charges and fund ranges.
| Provider | Annual charge | Contribution charge | Trustpilot | |
|---|---|---|---|---|
| Aviva | 0.35% up to £500k on the personal pension (nothing above £500k) | None | 4 | Full review |
| Royal London | Typically around 0.38% for Governed Portfolios, varying by scheme and pot size | None | 4.6 | Full review |
| Scottish Widows | 0.25% to 0.50% on the Retirement Account, depending on pot size and investments | None on modern products | 4.6 | Full review |
| Nest | 0.3% annual management charge | 1.8% on every contribution paid in | 3.9 | Full review |
| PensionBee | 0.50% to 0.95% depending on plan, halved on the portion above £100k | None | 4.6 | Full review |
| Standard Life | Ready-made option 0.55% total (0.45% service charge + 0.10% fund charge); choose-your-own funds vary | None | 3 | Full review |
The UK's largest insurer, covering workplace and personal pensions
Best for: Consolidating old pots with a household name, and workplace savers who want to manage everything in one app
Aviva fees and reviewsMutual insurer that shares profits with pension members
Best for: Savers who value a mutual ethos and ProfitShare top-ups, usually via an employer or adviser
Royal London fees and reviewsLloyds Banking Group's pension arm, integrated with Lloyds and Halifax banking
Best for: Lloyds, Halifax and Bank of Scotland customers who want their pension inside their banking app
Scottish Widows fees and reviewsThe government-backed auto-enrolment scheme covering a third of UK workers
Best for: Employees auto-enrolled through work and employers needing a no-fuss compliant scheme
Nest fees and reviewsApp-first pension consolidation with one pot and one clear fee
Best for: People with scattered old workplace pots who want them combined into one simple plan
PensionBee fees and reviewsOne of the UK's oldest insurers, now part of Standard Life plc (formerly Phoenix Group)
Best for: Long-standing workplace savers, and self-directed investors who want a SIPP under a recognisable brand
Standard Life fees and reviewsOften yes, sometimes emphatically no. Consolidating makes your money easier to see and can cut charges, but some older pensions carry valuable guarantees or exit penalties. Check for guaranteed annuity rates and protected retirement ages before transferring anything, and read our guide on consolidating old pensions.
Modern schemes cluster between 0.3% and 0.75% a year all-in. If you discover an old policy charging above 1%, that is worth investigating: on a £100,000 pot, the difference between 0.4% and 1.2% is £800 a year, every year.
A SIPP on a platform like AJ Bell or Vanguard can be cheaper and gives you full investment choice, but you do the work. Our broker comparison covers SIPP costs, and the ISA vs SIPP guide covers which wrapper to prioritise.
Provider and fees sorted, the question that matters is whether your pot will be big enough. Delphina projects your pensions, ISAs and savings over the next 30 years and shows you the year you can afford to retire.