Our charges, investment and service

You can trust us to be transparent.

Here’s how we stack up

We’re committed to giving you the full picture. Here you’ll find up-to-date information on our charges, investment performance and service.

Over 80 years

Providing benefits

1 in 5 workers

In UK save with us

Over £25 bn

Assets we manage

1 in 5 UK workers applies to those aged 22 and over with a workplace pension. All figures correct as of March 2024.

Charges

Every pension company charges you for looking after your money. This is usually called an annual management charge (AMC). Even a small difference between these percentages could mean you’ll be thousands of pounds better or worse off in retirement, which can impact the lifestyle you want to lead.

Our annual management charge is made up of 3 parts

Save more, grow more. We give over £1.5 million back to our members each month1 in rebates on our charge. 

Annual charge

£4.50

Deducted from your pension pot during the scheme year

Management charge

0.5%

Of the value of your pension pot each year

Rebate

0.1%-0.3%

Of the management charge reinvested for you 

Pots £3,000+ 

Your personal charges and rebate may differ slightly. Log in to your account to check. More information on the AMC can be found on our member AMC webpage.


Annual management charge calculator

Use the slider to estimate your pot size and see your likely changes. Adjust the slider to see how your rebate increases as your pot size grows.

£ Selected pot size £15,000

Your actual annual management charge:

£62.50 0.42%

Fees you pay

Annual charge £0.00 0.00%
+ Management charge £0.00 0.00%
- Rebate £0.00 0.00%

No charges to transfer your pensions 

Some providers charge a fee to transfer your pension pot to them or to another provider. We believe transferring shouldn’t come at a cost. 

More about transferring your other pension pots to us

Charge to transfer 

£0.00

To transfer other pots in to us

1 £1.5 million is the combined total of the rebate on all of our members’ pots each month in 2023.

Investment performance

Pensions are invested in stocks, shares and bonds all around the world, so the value of your pot can go up and down. It’s hard to predict the future, but looking at how your provider’s investments have grown over time is a smart move.

Our investments

All new members automatically have their contributions invested into our ‘balanced’ investment profile – unless you choose otherwise.

It aims to provide a balance between risk and reward with the goal of targeting long-term investment growth, while offering some protection by gradually moving your money into lower-risk assets (called a glidepath) as you approach retirement.

If you had invested £10,000 5 years ago, into our ‘balanced’ profile, your fund would now be worth £13,877 (at 31 March 2024), assuming you’re not yet on the glidepath. This figure is before charges are deducted.


Our investment performance

Our ‘balanced’ investment profile is made up two funds: Global Investments (up to 85% shares) Fund and Pre-Retirement Fund. You can see full details about these and our other funds over at our investment pages – and you can check out our green credentials over on our responsible investment page.

Global Investments (up to 85% shares) Fund

Past performance before chargesOver 5 yearsOver 3 yearsOver 1 year
Value on 31/03/2024 if you had invested £10,000 £13,877£11,527£11,315
Performance to 31/03/202438.8%15.3%13.2%

Pre-Retirement Fund

Past performance before chargesOver 5 yearsOver 3 yearsOver 1 year
Value on 31/03/2024 if you had invested £10,000 £10,897£9,976£10,577
Performance to 31/03/20249.0%-0.2%5.8%

Past performance is not a guide to future returns. Your pension pots may go up or down in value more or less than in previous periods.

These figures are provided for comparison purposes only and are calculated before charges are taken.

The actual performance of your pension will be subject to the deduction of charges as described above. Your actual performance may vary based on any management charge rebate you receive, the annual charge, or any charges agreed as part of our best price guarantee.

Service and satisfaction

Charges and performance will have the biggest impact on your pot at retirement. But it’s important you get the right support when you need it, from a real person over the phone for example.

You can count on us

We know speaking with a real person is what matters to many when making financial decisions.

Our call centre available for you Monday to Friday 8.30am to 6pm. Call us: 0300 2000 555.

97% emails

Answered in 3 working days


Correct for March 2024

66 seconds

Before we answer your call


Correct for March 2024

83%

Customer satisfaction score


Correct for April 2023-March 2024


Trusted by industry and customers alike

Members at the heart of everything we do

Because we don’t have shareholders, we’re free to reinvest all the profits we make to improve our service to you – we call this profit for people. 

Our best price guarantee is unique in the market. If a member has an existing pension and opens a new one, all their savings will be charged at the lowest rate available to them. 

Find out more about what makes us different.