About Alliance Trust
Alliance Trust are a pension provider that we are proud to work with, and our advisers have a strong track record placing customers with
Our advisers specialise in Alliance Trust’s product range and can help you access it, compare it against the rest of the market, or review your options if you have an existing pension with Alliance Trust.
Get started below to begin a free, no-obligation chat with an independent pension adviser.
Types of pension available
In the UK, the following types of pension are available:
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Defined Contribution (DC) Workplace Pensions: Most modern workplace pensions are DC schemes. The retirement benefits you receive are directly linked to how much you and your employer contribute, as well as the investment performance of your pension pot.
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Defined Benefit (DB) Workplace Pensions (Final Salary Pensions): These are rarer now but provide a guaranteed income based on your salary and length of service. They are often very valuable and a review can be crucial for retirement planning.
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Personal Pensions: These are pensions you arrange yourself, rather than through an employer. They offer more flexibility and control over your investments.
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Self-Invested Personal Pensions (SIPPs): SIPPs offer greater control over where your pension savings are invested, allowing you to choose from a wide range of assets like shares, ETFs, investment trusts, and even commercial property. They are popular with experienced investors, those with an adviser, or people consolidating old pensions.
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Non-SIPP Personal Pensions: These are similar to SIPPs but often come with ready-made portfolios and fewer investment choices, suitable for those who prefer a more hands-off approach.
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Stakeholder Pensions: These typically have capped charges, low minimum payments, fee-free transfers, and a basic choice of investments, making them a flexible option for those with smaller contributions.
Get in touch to find out whether Alliance Trust is your ideal provider for any of the above pension types, or whether your funds are better off invested elsewhere.
Ways to access your pension
To access your Alliance Trust pension pot you will need to be 55 or over (rising to 57 from 2028). Providers such as Alliance Trust offer a range of options for claiming your income, namely:
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Take a Tax-Free Lump Sum: You can usually take up to 25% of your pension pot as a tax-free lump sum. The remaining 75% will be subject to income tax when you access it.
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Take a Flexible Income (Flexi-Access Drawdown): This option allows you to keep your pension pot invested and take out taxable income when you need it. You decide how much to take and when, giving you flexibility. However, your investments can go down in value as well as up, and you could run out of money if you take too much too soon.
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Buy an Annuity: An annuity converts your pension pot into a guaranteed, regular income for life or a fixed period. There are various types of annuities, offering different features like inflation protection or payments to a beneficiary after you die. This provides certainty of income but typically offers less flexibility.
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Take Your Whole Pot as a Lump Sum: You can take your entire pension pot as a single lump sum. The first 25% is tax-free, but the remaining 75% will be added to your income for that tax year and could push you into a higher tax bracket. This option is generally only suitable for smaller pension pots or if you have other significant retirement income.
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Take Several Smaller Lump Sums (Uncrystallised Funds Pension Lump Sum - UFPLS): With this option, each time you take a lump sum, 25% of it is tax-free, and the remaining 75% is taxable. This allows you to take money out gradually without committing to drawdown or an annuity for the entire pot.
If any of the above are unavailable with your current pension provider, get in touch and one of our advisers will explore a potential transfer to providers that offer your preferred option.
How much does it cost to set up a pension with them?
There are usually no fees to set up a UK pension, but you will pay charges based on your investments. These include dealing charges for buying and selling investments, such as set fees for funds and shares, and annual account charges that vary by investment type.
What kind of reviews does Alliance Trust have as a pension provider?
The best way to get an idea of how well received Alliance Trust is as a pension provider is to take a look at their average rating on trusted consumer review platforms such as Trustpilot and Google Reviews. Alternatively, you can get a better idea of whether they’d be a good choice for you by speaking to an independent financial adviser, like the ones we work with.
Your options with an existing Alliance Trust pension
If you already have an Alliance Trust pension, we can arrange for one of our independent financial advisers to review it for you for free. During the process, they will look into how your funds are growing and whether there is a better pension provider or product for you.
There is no obligation to act on their advice, and they are legally obligated to inform you if it’s in your best interest to remain with Alliance Trust and make no changes to your account with them.
Transferring a pension away from Alliance Trust
It is possible to transfer your pension pot away from Alliance Trust to another pension provider or a different type of account (either with Alliance Trust or elsewhere). If a transfer is in your best interest, your adviser will inform you of this during your free pension review.
Transferring a pension without taking professional advice first is not recommended. Indeed, there are scenarios where it is a legal requirement, such as if you are transferring your pension pot to a Qualifying Recognised Overseas Pension Scheme (QROPS).
Get independent advice about Alliance Trust pensions
If you are wondering if Alliance Trust is your ideal pension provider, the independent financial advisers we work with can confirm this by carrying out a free pension review for you.
During this consultation, your adviser will take a deep dive into your retirement needs and personal circumstances to determine whether Alliance Trust is the best option.
If you are an existing Alliance Trust customer, your review will establish whether sticking with them is your best option, or transferring your funds elsewhere, which we can help you do.
Here are just some of the reasons why people choose us for their pension needs:
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Our advisers are independent, giving you the widest pension options
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Free initial consultation, with no obligation to go further
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Fully qualified, FCA-regulated financial planners
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Access to pension specialists with experience in complex cases
Get started here to take advantage of a free pension review and find out whether Alliance Trust or one of their competitors is the best place for your retirement funds to grow.
Frequently Asked Questions
Your funds will be exempt from tax if you die under the age of 75 and your funds do not exceed the Lump Sum and Death Benefit Allowance (LSDBA).
If you are over 75 when you pass away and/or your funds do exceed the LSDBA limit, the beneficiary would usually have to pay income tax at their marginal rate.