Alliance Trust is one of the oldest and most respected names in the British investment world. While the Alliance Trust PLC continues as a major investment trust, its pension and savings arm (Alliance Trust Savings) was acquired by Interactive Investor (ii) in 2019.
Today, if you have an Alliance Trust pension, it is managed through the Interactive Investor platform. This transition changed the way many savers manage their retirement, moving from traditional percentage-based fees to a unique flat-fee model.
If you would like independent advice about whether Alliance Trust is the right provider for your pension, get in touch with one of our financial advisers below:
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including Alliance Trust.
Whether you want to transfer your pension to Alliance Trust or have an existing pension with then that you want to get the most out of, we can help.
The IFA's we work with can provide independent advice about pension transfers, reviews, drawdown, annuities and much more. Book your free initial consultation with them below:
Who is Alliance Trust / Interactive Investor?
Founded in Dundee in 1888, Alliance Trust has a 130-year heritage. Since the merger with Interactive Investor, the platform has become the UK’s leading flat-fee subscription service. Unlike providers like Aviva or Aegon, who charge a percentage of your total pot, this model charges a fixed monthly price regardless of how much you have saved.
Pension Products: The SIPP
The primary pension product offered is the Self-Invested Personal Pension (SIPP).
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Investment Choice: One of the widest in the market. You can invest in over 40,000 UK and international stocks, funds, ETFs, and Investment Trusts (including the flagship Alliance Trust PLC).
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The Flat-Fee Model: You pay a fixed monthly subscription (usually starting around £12.99 for the pension). This is highly attractive for those with larger pension pots, as the fee doesn't grow even if your investments do.
Putting an Alliance Trust (ii) Pension into Drawdown
When you reach retirement age, the platform offers a flexible Flexi-Access Drawdown service.
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How it Works: You can typically take 25% of your pot as a tax-free lump sum. The remainder stays invested, and you can set up regular monthly payments or take "one-off" withdrawals as needed.
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Cost Efficiency: Because of the flat-fee structure, Interactive Investor is often cited as one of the cheapest places to hold a drawdown pot exceeding £100,000, as you aren't penalized for having a high balance.
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Minimum Age: Currently 55, rising to 57 in April 2028.
Alternatives to Drawdown
If you decide that keeping your money invested is too risky, there are alternatives:
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Annuities: You can use your Alliance Trust pot to buy an annuity from a third-party provider, giving you a guaranteed income for life.
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Uncrystallised Funds Pension Lump Sum (UFPLS): This allows you to take cash directly from your pension without moving it into a drawdown account first. 25% of each payment is tax-free.
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Full Encashment: For smaller pots, you may choose to take the entire balance at once, though this can have significant tax implications.
Reviewing an Existing Alliance Trust Pension
If you have a legacy account that was originally set up with Alliance Trust Savings (ATS), it is vital to have it reviewed. The transition to Interactive Investor changed many of the terms, conditions, and charging structures.
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Fee Comparison: If you have a smaller pension pot (under £50,000), a flat-fee model might actually be more expensive than a percentage-based provider like Aegon or Nest. A review will highlight if you are overpaying.
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Investment Performance: Many older Alliance Trust accounts were invested in "house funds." A modern review can determine if these funds are still competitive or if you should diversify into lower-cost index trackers.
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Consolidation Opportunity: If you have multiple old workplace pensions, moving them into your Alliance Trust/ii account could save you hundreds of pounds a year in duplicated admin fees.
Transferring To and From the Provider
Transferring INTO Alliance Trust (ii)
Interactive Investor makes the consolidation process very straightforward. They use the Origo electronic transfer system, meaning most transfers from other major providers take roughly 2 to 3 weeks.
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Bonus Offers: They frequently offer "cashback" incentives for transferring large sums into their SIPP, which can help offset any exit fees from your previous provider.
Transferring OUT of Alliance Trust (ii)
If you find that the flat-fee model no longer suits you—or if you want a more "hands-on" managed service—you can transfer out at any time.
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The Process: You simply provide your new provider with your account number.
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Check for Exit Fees: While Interactive Investor generally does not charge exit fees on modern accounts, older legacy Alliance Trust Savings accounts may still have specific closure costs that need to be checked during a review.
Pros, Cons, and Customer Reviews
The Pros
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Exceptional Value for Large Pots: If your pension is over £100k, you could save thousands in fees compared to percentage-based providers.
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Investment Freedom: Access to global markets and niche investment trusts.
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Award-Winning Platform: Frequently wins "Best SIPP Provider" awards for its digital interface and research tools.
The Cons
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Expensive for Small Pots: The flat monthly fee can "eat" a small pension pot much faster than a percentage charge would.
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Complexity: The sheer volume of investment choices can be overwhelming for beginners.
What Customers are Saying (2025-2026)
"Moving from a 0.45% provider to a flat fee saved me over £800 a year immediately. The app is fast and the research is top-notch." — Trustpilot Review, Feb 2026
"Customer service can be a bit slow during busy market periods, and I found the migration from the old Alliance Trust system to the new one a bit bumpy, but once settled, it's been great." — Smart Money People Review, Nov 2025
How Our IFA Service Can Help
At Money Helpdesk, we provide access to Independent Financial Advisers (IFAs) who specialise in platform comparisons. Because Alliance Trust (Interactive Investor) is so different from "standard" providers, expert advice is crucial.
Our IFA service helps you with:
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The "Break-Even" Analysis: We calculate exactly at what pot size the flat-fee model becomes cheaper for you than a percentage-based provider.
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Portfolio Construction: With 40,000+ investments available, we help you build a diversified portfolio that matches your risk profile.
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Legacy Policy Forensic Review: We look at your original Alliance Trust Savings documents to ensure no "protected" benefits were lost during the platform migration.
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Drawdown Strategy: We help you manage your "sustainable withdrawal rate" to ensure your money lasts as long as you do.
Contact us today to speak with an IFA for an independent review of your pension pot and whether Alliance Trust is the best place to invest it.