Your Pension Could Be Losing Value to High Fees
Switch your pension to a smarter, more cost-effective solution without losing control of your money.
Switch your pension to a smarter, more cost-effective solution without losing control of your money.
Many people in or approaching drawdown are paying more in fees than they realise — often through a combination of advice charges, platform fees, and fund management costs. Providers like St. James’s Place typically use percentage-based charging structures, which can amount to 1.5–2% or more per year, depending on the underlying investments and services. Reviewing your pension setup could lead to significant long-term savings.
At first glance, it may seem small — but over 10 years, those charges can consume tens of thousands of pounds from your pension fund.
Many people remain with their existing pension provider as they approach or even after retirement, not realising that they could be paying significantly more in fees than necessary. While some providers charge between 1.5% and 2% annually, including advice, platform and fund management, these charges are often taken as a percentage of the fund, which means larger pensions incur higher fees, regardless of complexity.
At Pense, we operate a fixed-fee advice model. That means you’ll pay the same flat fee whether your pension fund is £200,000 or £500,000 — ensuring fairness and transparency. Our clients typically see a significant reduction in ongoing charges, which keeps more of their pension invested and working for them.
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Maximum £750/year
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Stephen had built up over £465,000 in pensions and ISAs with major providers. Between hidden fund charges, platform fees, and an old with-profits policy, he was paying nearly £7,000 a year in costs — and had no access to flexible drawdown.
He switched to Pense’s capped-fee retirement solution. With ongoing advice fixed at £750 and total charges under 0.9%, he’s now projected to save over £41,000 in fees over the next 10 years — all while gaining full access to expert advice, drawdown flexibility, and lower-cost, globally diversified investments.
“I didn’t realise how much I was losing to fees each year. Pense made it simple — and saved me a fortune.” - Stephen, 64, Durham.