Hargreaves Lansdown (HL) is the UK’s largest direct-to-consumer investment platform, managing billions for over 1.8 million clients. Known as the "Blue Chip" of the DIY investment world, they are a FTSE 250 company (formerly FTSE 100) and are frequently cited as the gold standard for customer service and research tools.
In 2026, HL remains the primary choice for those who value a premium, "all-in-one" experience. While they are not the cheapest provider in the market, their robust mobile app and extensive investment universe make them a powerhouse for both beginner savers and experienced retirees.
Get in touch below for an independent assessment of whether Hargreaves Lansdown is the right pension provider for you from a qualified pensions specialist.
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including Hargreaves Lansdown.
Whether you want to transfer your pension to Hargreaves Lansdown 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:
Hargreaves Lansdown Pension Products
HL offers a streamlined yet powerful range of pension vehicles:
1. The HL SIPP (Self-Invested Personal Pension)
The most popular SIPP in the UK. It offers unparalleled choice, with access to over 3,000 funds, UK and international shares, ETFs, and investment trusts.
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Investment Ideas: Members benefit from the "Wealth Shortlist"—a curated list of funds that HL’s analysts believe have the best long-term potential.
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Ready-Made Portfolios: For those who don't want to pick individual funds, HL offers "Ready-Made Pension Plans" managed by their experts, typically with a total yearly charge around 0.75%.
2. Junior SIPP
A tax-efficient way to build a child's future wealth. Notably, HL is highly competitive here, often offering lower fees or even waiving the annual account charge for Junior SIPPs when managed online.
Putting an HL Pension into Drawdown
Hargreaves Lansdown is a market leader in Flexi-access Drawdown, with over 83,000 clients currently using the platform to fund their retirement.
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Flexibility: You can move your pension into drawdown in one go or in stages ("phased drawdown"). You typically receive your 25% tax-free cash upfront, while the remainder stays invested.
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Control: You decide exactly how much taxable income to take and when—whether that’s a regular monthly payment or occasional "dips" into the pot.
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Investment Pathways: For those who want simplicity in retirement, HL offers four "Investment Pathways" that align your money with a specific 5-year goal (e.g., "I want to take a steady income").
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Withdrawal Speed: There are no fees to set up drawdown or to make withdrawals, and the process is managed easily via their app.
Putting an HL Pension into Drawdown
Hargreaves Lansdown is a market leader in Flexi-access Drawdown, with over 83,000 clients currently using the platform to fund their retirement.
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Flexibility: You can move your pension into drawdown in one go or in stages ("phased drawdown"). You typically receive your 25% tax-free cash upfront, while the remainder stays invested.
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Control: You decide exactly how much taxable income to take and when—whether that’s a regular monthly payment or occasional "dips" into the pot.
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Investment Pathways: For those who want simplicity in retirement, HL offers four "Investment Pathways" that align your money with a specific 5-year goal (e.g., "I want to take a steady income").
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Withdrawal Speed: There are no fees to set up drawdown or to make withdrawals, and the process is managed easily via their app.
Alternatives to Drawdown
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Annuities: HL provides a comprehensive annuity search service, allowing you to compare guaranteed income rates from across the UK market.
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UFPLS (Uncrystallised Funds Pension Lump Sum): A way to take cash directly from your pension without setting up a drawdown account.
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Combination Strategy: You can use part of your pot for an annuity to cover essential bills and leave the rest in drawdown for potential growth.
Reviewing an Existing HL Pension
If you have held an HL SIPP for many years, a review is essential to manage the "cost of success."
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Fee Analysis: HL charges a percentage-based fee (starting at 0.45%). As your pot grows (e.g., past £250,000), this fee can become significant in pounds-and-pence terms. A review helps determine if you should shift to "share-only" holdings (where the fee is capped at £200) or if a flat-fee provider would be cheaper.
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Asset Allocation: With thousands of funds available, portfolios can become "cluttered." A review ensures your investments aren't overlapping and that your risk level is still appropriate for 2026.
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Cash Buffer: HL pays competitive interest on uninvested cash, but a review can determine if that cash should be moved into their "Active Savings" account for a higher return.
Transferring To and From Hargreaves Lansdown
Transferring INTO HL
HL is one of the easiest platforms for consolidation.
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The Process: You can initiate a transfer online; HL then contacts your old providers. Most transfers are handled via the Origo electronic network and take around 2 to 3 weeks.
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In-Specie Transfers: They allow you to move your actual fund and share holdings without selling them to cash, keeping you invested in the market throughout.
Transferring OUT of HL
While HL aims for high retention, they do not "trap" clients.
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Exit Fees: HL was one of the first major platforms to scrap exit fees. You can move your cash or stock to another provider without a penalty from HL.
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Ease of Exit: You simply provide your new provider with your HL account number, and the transfer is usually handled electronically.
Pros, Cons, and Customer Reviews (2025-2026)
The Pros
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World-Class Service: UK-based helpdesk where calls are usually answered in seconds by knowledgeable staff.
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Top-Tier App: One of the highest-rated investment apps for tracking, research, and trading.
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Security: A massive, profitable institution that is heavily regulated and FSCS protected.
The Cons
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Cost: 0.45% is higher than budget rivals like Vanguard (0.15%) or AJ Bell (0.25%).
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Share Dealing Fees: Trading shares can cost up to £11.95 per deal, which is expensive for frequent traders.
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Not ESG-Filtered: Currently lacks advanced ESG/Sustainability filters across the entire investment range.
What Customers are Saying
"The peace of mind is worth the extra cost. When I had a complex question about my tax-free lump sum, I got through to a human in Bristol immediately who walked me through it." — Trustpilot Review, Jan 2026
"A great platform for beginners, but now that my SIPP has hit £300k, I'm starting to notice the fees. I'm moving my funds into ETFs to take advantage of their fee cap." — Boring Money Review, Dec 2025
How Our IFA Service Can Help
At Money Helpdesk, we connect you with Independent Financial Advisers (IFAs) who provide the objective advice that HL cannot. While HL provides "guidance," they cannot tell you if their platform is the absolute best for your specific tax and family situation.
Our IFA service helps you by:
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Cost-Benefit Comparison: Calculating if the "HL Premium" is worth it for you, or if moving to a flat-fee provider could save you thousands.
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Tax Efficiency: Specifically for the 2026/27 tax year, ensuring you maximize your allowances without hitting the Tapered Annual Allowance.
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Complex Strategy: Helping you bridge the gap between "DIY" and "Chartered Planning" for inheritance tax and estate management.
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Legacy Policy Check: Ensuring you aren't transferring out of an old employer scheme into HL and losing high guaranteed annuity rates.
Get started here for an impartial review of whether HL is the right pension provider for you from a qualified independent financial adviser.