Workplace pension comparison · UK schemes
Auto-enrolmentAuto-enrolmentUK rule that employers must enrol most employees into a workplace pension. Minimum contribution: 8% of qualifying earnings (3% employer + 5% employee, including tax relief).workplace pensions compared by annual management charge (AMC) — NEST, NOW, Smart, People’s Pension, Aviva, Aegon, L&G, Standard Life and more. Illustrative comparison data only.
Read before comparing
- Workplace pension AMCs are employer-negotiated. The figures shown here are representative defaults — they are illustrative only and are not guaranteed for any specific employer scheme. Your actual AMC could be lower if your employer has negotiated a better rate.
- DBDefined Benefit pensionA pension that pays a contractual income for life, based on your salary and years of service. Usually called a 'final salary' or 'career average' pension. Transferring out forfeits the safeguarded benefit — FCA rules require regulated advice for any DB transfer with safeguarded benefits worth £30,000 or more (FCA COBS 19.1). (Defined Benefit) schemes are NOT comparable here. This page covers DCDefined Contribution pensionA pension that's a pot of money invested in funds. Your retirement income depends on how the pot grows and how you draw it. Most modern workplace pensions and SIPPs are DC.(Defined Contribution) schemes only. Transferring a DB scheme worth £30,000 or more requires regulated advice — this is an FCA rule (COBS 19.1). DB schemes promise a guaranteed income for life; transferring out forfeits that guarantee and is almost never in the member’s interest.
- Employer match: check before transferring. If your employer currently contributes to your workplace pension, leaving the scheme means losing those employer contributions going forward. An employer match of even 3–5% is almost certainly worth more than any AMC saving you could achieve by switching.
- FCA default fund cap: 0.75%. The FCA caps AMCs on default-fund investments at 0.75%/year. Most modern auto-enrolment schemes sit 0.30–0.50% in practice. If you are paying more than 0.75%, check whether your scheme qualifies for the cap.
UK workplace pension AMC comparison
Sorted by AMC ascending. Figures are representative defaults — your employer’s negotiated rate may differ. Admin / contribution charges shown separately where they apply.
As of August 2026, the lowest representative default AMC among the 11 UK auto-enrolment schemes Feefee tracks is 0.30% per year (NEST, NOW, Smart Pension). AMCs are employer-negotiated, so your scheme’s rate may differ — illustrative comparison, not advice.
| Provider | AMC | Admin / contribution charges | Default fund | Source |
|---|---|---|---|---|
| NEST | 0.30% | 1.8% contribution charge | Retirement Date Fund | Source → |
| NOW | 0.30%/yr | £2/month flat | Diversified Growth Fund | Source → |
| Smart Pension | 0.30%/yr | £1.75/month flat (waived ≤£100) | Smart Sustainable Growth | Source → |
| L&G | 0.50%/yr | None | Multi-Asset Fund (lifestyle) | Source → |
| PensionBee | 0.50%/yr | None | Tracker plan | Source → |
| People's | 0.50%/yr | £6.50/year flat | Balanced (default lifestyle) | Source → |
| Royal London | 0.60%/yr | None | Governed Portfolio (lifestyle) | Source → |
| Aviva | 0.65%/yr | None | My Future (lifestyle) | Source → |
| Scottish Widows | 0.70%/yr | None | Scottish Widows Pension Portfolio | Source → |
| Standard Life | 0.70%/yr | None | Managed (lifestyle) | Source → |
| Aegon | 0.75%/yr | None | BlackRock Market Advantage | Source → |
Consolidating old workplace pensions
If you have old DC workplace pensions from previous jobs, consolidating them into a single low-cost SIPPSelf-Invested Personal PensionA pension where you pick the investments yourself. Cheaper than legacy adviser-led pensions, but you choose the funds.can reduce fee drag and simplify your picture — particularly if the old scheme’s AMC is above 0.5%. See the SIPP comparison for platform-by-platform fee breakdown. Ready to switch? The SIPP switch guide walks through the transfer steps, or start with Feefee’s fee sniff to see how your actual AMC stacks up.
Important: do not consolidate a pension if you are still actively employed at that employer and receiving employer contributions. And never transfer a DBDefined Benefit pensionA pension that pays a contractual income for life, based on your salary and years of service. Usually called a 'final salary' or 'career average' pension. Transferring out forfeits the safeguarded benefit — FCA rules require regulated advice for any DB transfer with safeguarded benefits worth £30,000 or more (FCA COBS 19.1). scheme without regulated advice.
Methodology & sources
- Representative figures only. Workplace pension AMCs are employer-negotiated and vary significantly by scheme size and employer relationship. Figures above are typical published defaults — your actual AMC may be lower. Always confirm with your employer or scheme administrator.
- Provider pages, not aggregators. Every figure is sourced from the provider’s own public-facing page. See /sources for every source URL and last-checked date, and the /comparison page for a sortable view of all rates and fees across every product.
- Not advice. Feefee is a comparison tool, not a regulated financial adviser. This page is illustrative only and does not constitute a recommendation to transfer, switch, or leave any pension scheme. For DB transfers of £30k+, regulated advice is a legal requirement.