Most people do not choose between these; their employer does. But if you are consolidating old pots or weighing a transfer, here is how the charges and reviews actually stack up.
Charges verified July 2026. Pension transfers are a big decision; this is information, not advice.
Your pension charge is one number. Whether you're saving enough is another - and we answer it from your real pensions, ISAs and the State Pension.
See if I'm saving enoughFree to check. No card required. Takes about two minutes.
Most people shouldn’t transfer out of a defined-benefit scheme. If you’re in one, the rest of this page is information, not a recommendation. For defined-contribution pots (the common case) a transfer is usually fine — the charges comparison below is what you’re here for.
People with scattered old workplace pots who want them combined into one simple plan.
Long-standing workplace savers, and self-directed investors who want a SIPP under a recognisable brand.
Pick the situation closest to yours. The advice below changes accordingly. No account, nothing to fill in.
| Charge | PensionBee | Standard Life |
|---|---|---|
| Annual charge | 0.50% to 0.95% depending on plan, halved on the portion above £100k | Ready-made option 0.55% total (0.45% service charge + 0.10% fund charge); choose-your-own funds vary |
| Workplace scheme charge | Not applicable (personal pension) | Set by your employer's scheme, capped at 0.75% for auto-enrolment defaults |
| Fund charges | Included in the single annual charge | Fund charges vary by option; over 50 investment choices on the personal pension |
| Contribution charge | None | None |
| Transfers in | Free, and PensionBee does the legwork of finding old pots | Free |
| Drawdown | Included from age 55 (57 from 2028), no drawdown fees | Included from age 55 (57 from 6 April 2028), no drawdown fees |
On a £100,000 pension left to grow for 20 years, a 0.25% a year difference in charges is about £11,800 (illustrative). Add your pension balances to Delphina yourself and see what charges cost you by retirement and whether you're on track.
See what my charges costIllustrative: £100,000, 5% a year growth before charges, 0.25% vs 0.50% a year in charges, no further contributions. Not a recommendation of PensionBee or Standard Life. Delphina is guidance, not financial advice.
The highest-rated pension provider on the Origo Pension Transfer Index. Reviewers repeatedly mention painless transfers and an app that finally makes their pension make sense.
The main pushback is price: 0.70% on the default plan is more than a DIY SIPP holding a cheap tracker.
Read PensionBee reviews on TrustpilotReviewers often mention the long brand heritage and the clarity of the app, and the personal pension page leads on 'no hidden charges' (no exit, transfer-in, switching or withdrawal fees).
Common gripes are legacy policy admin, slower responses on older workplace schemes, and the fact the modern personal pension is one product line among many older books.
Read Standard Life reviews on TrustpilotPensionBee took the most painful job in UK personal finance, finding and combining old pensions, and made it an app onboarding flow. Transfers are handled for you, the fee is a single number, and drawdown is built in.
You pay for that simplicity. The default Global Leaders plan at 0.70% is roughly triple the cost of holding a global tracker in a cheap SIPP. Whether that premium is worth it depends on whether you would actually do the consolidation yourself. For many people, the answer is no, and PensionBee is the difference between sorted and never done.
Standard Life has been writing UK pensions since 1825 and is now a brand of Standard Life plc, the life arm of what was Phoenix Group. The current consumer personal pension (branded Active Money) charges 0.55% on the ready-made option, has no platform or transfer-in fees, and can be opened from £1 in the app.
Most people with Standard Life today got there through an employer scheme that may have been sold by an older Standard Life entity years ago. The experience of those legacy policies is uneven and tends to drive the negative reviews, while the modern personal pension and Wrap SIPP get a cleaner reception.
Track your net worth, assets and a five-year forecast built on your real position, not a guess. Free plan, no card.
See where I standIf you are in a defined-benefit scheme, almost certainly no - the guaranteed income and spousal benefits are hard to beat. For defined-contribution pots, the decision is about charges and what you actually want from the pension. Charges of 0.5%-1.0% a year compound into a serious drag over 20+ years.
Charges vary by product. The table above shows the published rates verified against each provider. Look at the all-in annual figure, not the platform fee alone - fund charges and adviser charges stack on top.
No. Charges tell you what you pay. Whether the plan behind the charges gets you to the retirement you want is a separate question - and it is the one most readers land here actually trying to answer.
A small charge difference is worth optimising. Knowing whether you are saving enough in the first place is worth far more. Delphina models your pensions, ISAs and investments and tells you where you actually stand.
Free to check. No card required. Takes about two minutes.