- Each pension gets a score out of 5 in seven categories. The overall score is a weighted average, also out of 5.
- Fees carry the most weight, at 30%. Over 20 or 30 years, costs make the biggest predictable difference to how much you end up with.
- Fee scores aren't our opinion. They come from a formula, using what each pension actually costs.
- Providers can't pay to be reviewed, to change a score or to move up our rankings.
In this article
Every pension we review is scored out of 5 in the same seven categories, using the same rules. Here's exactly how it works, including the weightings and the formula behind our fee scores, so you can check our working.
01The seven categories and their weights
- Fees30%
- Trading platform or app15%
- Safety15%
- Customer service15%
- Account opening10%
- Research7.5%
- Education7.5%
| Category | Weight | What we look at |
|---|---|---|
| Fees | 30% | The yearly cost of holding a fund-based pension at six pot sizes. See below for exactly how this is calculated. |
| Trading platform or app | 15% | How easy the website and app are to use, how reliable they are, and how well they handle everyday tasks such as contributions, switches, transfers and drawdown. |
| Safety | 15% | FCA regulation, how client money and investments are held, FSCS protection, and the provider's size, financial strength, ownership and track record. |
| Customer service | 15% | How easy it is to reach a real person, the ways you can get in touch (phone, chat, email), response times and independent customer ratings. |
| Account opening | 10% | How quickly and simply you can open an account and transfer pensions in, including transfer fees and help with exit fees. |
| Research | 7.5% | Fund shortlists, factsheets, analyst views and portfolio tools that help you make or check investment decisions. |
| Education | 7.5% | Guides, podcasts, webinars and calculators, especially on retirement topics such as drawdown and tax-free cash. |
02How the fee score is calculated
Fees are the only category scored by formula. We follow four steps.
Work out the yearly cost
For each of the 10 pensions in our core comparison, we work out the yearly cost of holding a fund-based pension at six pot sizes: £10,000, £25,000, £50,000, £100,000, £250,000 and £500,000.
Make it like for like
On DIY platforms (AJ Bell, Hargreaves Lansdown, Interactive Investor, Fidelity, Bestinvest and Vanguard), we add a typical tracker fund charge of 0.20% a year. Managed pensions (PensionBee, Nutmeg, Moneyfarm and Moneybox) use their own published fund costs.
Rank the providers
At each pot size, we rank the 10 pensions from cheapest (1) to most expensive (10), then take each provider's average rank across the six pot sizes.
Convert the rank to a score
A provider that was cheapest at every pot size would score 5. One that was most expensive at every pot size would score 2.5.
What's left out, and why
Share trading and share-holding charges aren't included. Five of the pensions we review don't let you hold individual shares, so leaving these charges out is the only way to compare them all fairly. We cover share caps and dealing charges in each review's fees section instead.
Plans used for the managed pensions: PensionBee Tracker, Nutmeg Fixed Allocation, Moneyfarm's actively managed portfolio and Moneybox Funds. Fidelity is costed without a monthly savings plan.
Pensions added later, such as the AJ Bell Ready-made Pension (added in October 2026), are scored by ranking them against the same 10, so a new review doesn't change scores we've already published.
03How the other six categories are scored
The other categories are scored by our review team against the guide below, using half points where a provider sits between two descriptions. Every provider is scored against the same guide.
| Score | What it means |
|---|---|
| 5 | Best in class. Among the very best we've seen in the UK market. |
| 4 | Very good. Strong, with only minor weaknesses. |
| 3 | Good. Does the job, but rivals do it noticeably better. |
| 2 | Below average. Clear weaknesses that most customers would notice. |
| 1 | Poor. A significant problem we'd want readers to know about. |
What we check
- Each provider's own published charges, key features documents and terms.
- Each provider's public website, app store listings and help guides, to see how contributions, transfers and drawdown work.
- FCA authorisation, ownership, financial results and how client assets are held.
- How to get help: phone lines, live chat, email, opening hours and independent customer ratings.
- The research, tools and guides available to customers.
We don't currently open test accounts with the providers we review. Our scores are based on the providers' published information and independent customer ratings. Where we do test an account ourselves in future, we'll say so in that review.
04How the overall score is calculated
We multiply each category score by its weight, add them together and round to one decimal place. Here's the AJ Bell SIPP as a worked example.
| Category | Score | Weight | Points |
|---|---|---|---|
| Fees | 4 | 30% | 1.20 |
| Trading platform or app | 4 | 15% | 0.60 |
| Safety | 4.5 | 15% | 0.675 |
| Customer service | 4.5 | 15% | 0.675 |
| Account opening | 4.5 | 10% | 0.45 |
| Research | 4 | 7.5% | 0.30 |
| Education | 4 | 7.5% | 0.30 |
| Overall | 100% | 4.20 = 4.2 / 5 |
05Current scores
All scores are out of 5, highest overall score first.
| Pension | Fees | App | Opening | Research | Safety | Education | Service | Overall |
|---|---|---|---|---|---|---|---|---|
| Interactive Investor | 4.5 | 4 | 4 | 4 | 4.5 | 4.5 | 4 | 4.3 |
| Moneybox | 4.5 | 4.5 | 5 | 3 | 4 | 4 | 4 | 4.3 |
| AJ Bell SIPP | 4 | 4 | 4.5 | 4 | 4.5 | 4 | 4.5 | 4.2 |
| AJ Bell Ready-made Pension | 4.5 | 3.5 | 4.5 | 2.5 | 4.5 | 4 | 4.5 | 4.2 |
| PensionBee | 4 | 4.5 | 5 | 2.5 | 4.5 | 4 | 4.5 | 4.2 |
| Fidelity | 3.5 | 4 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 | 4.1 |
| Hargreaves Lansdown | 3 | 4.5 | 4.5 | 5 | 4.5 | 5 | 4.5 | 4.1 |
| Vanguard | 4.5 | 3.5 | 4.5 | 3 | 5 | 4 | 3.5 | 4.1 |
| Bestinvest | 2.5 | 4 | 4.5 | 4.5 | 4.5 | 5 | 4.5 | 3.9 |
| Nutmeg | 3 | 4.5 | 5 | 3 | 4.5 | 4 | 4 | 3.9 |
| Moneyfarm | 2.5 | 4 | 4.5 | 3 | 4.5 | 4 | 4.5 | 3.7 |
App = trading platform or app. Opening = account opening. Service = customer service. On a phone, swipe the table sideways to see every score.
06How we make money
When Can I Retire? is free to use. Some links on our site may earn us a commission if you open an account. Here's how we keep that separate from our scores:
- Providers can't pay to be reviewed, to see a review before it's published, or to change a score.
- We write and score every review before any commission link is added.
- Every provider is scored with the same method, whether or not we have a commercial relationship with them.
- Fee scores come from a formula, so they can't be nudged up or down.
You can read more on our how we are financed page.
07Why our scores may differ from Trustpilot or Which?
Customer review sites mostly measure how happy existing customers feel, often after a recent call or transfer. Other comparison sites weigh things differently, and may focus on ISAs or share dealing rather than pensions.
We score pensions specifically for long-term retirement saving and drawing an income. That's why fees count for 30%, and why we look closely at transfers, drawdown and retirement guidance. Customer ratings are part of our customer service score, but they're one input rather than the whole picture.
08Keeping scores up to date
- When a provider changes its charges, we re-run the fee scores for all 10 pensions, because one provider's change can move others up or down the rankings.
- We review every category score at least once a year, and whenever a provider makes a significant change, such as a new platform, a change of owner or a new drawdown service.
- Each review shows the date its charges were last checked.
09Spotted a mistake?
We check every figure against the provider's own published information, but charges and features change. If you think something is wrong or out of date, please get in touch. We'll look into it and correct any significant error as quickly as we can, and update the review's "last updated" date.
Our scores and reviews are for information and education only and are not financial advice or a personal recommendation. The right pension for you depends on your own circumstances. Pension and investment values can fall as well as rise, and you may get back less than you put in. If you're unsure what's right for you, speak to a regulated financial adviser.
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Jamie Kyte APFS
Jamie Kyte APFS is a Chartered Financial Planner and Independent Financial Adviser with over a decade of experience helping people plan for retirement. He specialises in retirement income planning, pension drawdown and helping clients make confident decisions about when they can afford to stop working.
Jamie holds the Chartered Financial Planner title awarded by the Chartered Insurance Institute, alongside the Advanced Diploma in Financial Planning (Level 6) and the Diploma in Financial Planning (Level 4). He is the founder of When Can I Retire? and Kyte Financial Planning.
Kyte Financial Planning is an Appointed Representative of ValidPath Limited, which is authorised and regulated by the Financial Conduct Authority. You can verify Jamie’s regulatory status on the FCA Register and connect with him on LinkedIn.
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