Nutmeg, the UK’s first and largest digital wealth manager, is now part of the global banking giant J.P. Morgan Chase. Since the 2025 rebranding to J.P. Morgan Personal Investing, the platform has combined its "robo-advisor" roots with the institutional power of one of the world's largest asset managers.
In 2026, Nutmeg continues to be the primary choice for "hands-off" investors who want a professionally managed pension without the complexity of picking individual stocks or the high costs of traditional face-to-face wealth management.
If you are wondering whether Nutmeg is the right option for your pension investments, get in touch below and one of our independent financial advisers will impartially review this for you.
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including Nutmeg.
Whether you want to transfer your pension to Nutmeg 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:
Nutmeg Pension Products
Nutmeg offers a specialised Personal Pension (SIPP) designed to make retirement saving as simple as possible. You don't need to be an expert to get started; you simply choose a goal and a risk level, and Nutmeg’s experts manage the rest.
Investment Styles
Nutmeg provides five distinct ways to grow your retirement pot:
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Fully Managed: Portfolios are actively monitored and adjusted by the in-house investment team based on global market conditions.
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Smart Alpha (by J.P. Morgan): A premium style that leverages J.P. Morgan’s advanced research to seek better returns through active management.
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Fixed Allocation: A lower-cost, "passive" option where the portfolio is rebalanced annually rather than actively managed day-to-day.
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Socially Responsible (ESG): Portfolios that focus on companies with high environmental, social, and governance standards.
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Thematic Investing: Portfolios designed to capture long-term trends like technology, healthcare, or green energy.
Putting a Nutmeg Pension into Drawdown
As you reach retirement age, Nutmeg provides a highly flexible Flexi-Access Drawdown service, allowing you to turn your digital pot into a regular income.
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Withdrawal Options: From age 55 (rising to 57 in April 2028), you can take your 25% tax-free lump sum (PCLS) in one go or through smaller, partial payments.
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Income Flexibility: You can set up regular monthly taxable income payments or take "one-off" lump sums (UFPLS) whenever you need extra cash.
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No Hidden Penalties: Nutmeg does not charge a fee for entering drawdown, and there are no costs for starting, stopping, or changing your withdrawal amounts.
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Automatic Tax Handling: Nutmeg calculates and pays the relevant tax to HMRC on your behalf, providing you with a clear P60 at the end of each tax year.
Alternatives to Drawdown
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Annuities: While Nutmeg is an investment platform, you can transfer your funds to an annuity provider if you decide you want the security of a guaranteed lifetime income.
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Full Pot Encashment: For smaller pots, you can withdraw the entire balance, though 75% will be subject to income tax.
Reviewing an Existing Nutmeg Pension
If you have held a Nutmeg pension for several years, a 2026 review is essential to ensure your strategy is still optimised:
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J.P. Morgan Integration: Since the rebranding, many portfolios now have increased access to J.P. Morgan's institutional-grade funds. A review can determine if switching to a Smart Alpha style would benefit your current pot.
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Fee Check: Nutmeg’s fees are percentage-based (around 0.75% for managed portfolios). As your pot grows beyond £100,000, these fees drop to 0.35%. A review ensures you are benefiting from these lower tiers.
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Risk Profile Alignment: Your tolerance for risk changes as you age. If your "Nutmeg Risk Score" was set years ago, it may no longer be appropriate for your 2026 retirement timeline.
Transferring To and From Nutmeg
Transferring INTO Nutmeg
Nutmeg is a specialist in pension consolidation and often runs incentives for new transfers.
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The Process: You can initiate a transfer through the app by providing your old pension details. Most cash transfers are handled electronically via the Origo network and take 2 to 4 weeks.
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Cashback Offers: Check for current 2026 promotions; Nutmeg frequently offers cashback (up to £3,000) for transferring pots over £10,000.
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Search Service: Nutmeg’s experts can help you find "lost" pensions from previous employers for free.
Transferring OUT of Nutmeg
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No Exit Fees: Nutmeg does not charge a fee to leave or close your account if you move your funds as cash.
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In-Specie Transfers: If you wish to move your actual fund holdings to another provider without selling them, Nutmeg may charge an administrative fee (typically around £20 per fund) for the manual processing required.
Pros, Cons, and Customer Reviews (2025-2026)
The Pros
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Slick User Experience: One of the highest-rated investment apps in the UK (4.8/5 on the App Store).
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J.P. Morgan Backing: The financial security and research power of a global banking leader.
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Transparent Fees: No set-up, trading, or exit fees (for cash transfers).
The Cons
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No DIY Control: You cannot pick individual stocks or specific funds; you must use their pre-set portfolios.
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Higher Minimum: The £500 initial investment is higher than some competitors like Wealthify.
What Customers are Saying
"The app is incredibly intuitive. I love being able to see my pension performance alongside my ISA in one place. Moving my old pots was effortless." — Trustpilot Review, Jan 2026
"Performance was a bit flat for a couple of years, but the recent shift to J.P. Morgan management seems to be making a positive difference. Fees are fair, though I'd like a flat-fee option for my larger balance." - Smart Money People Review, Nov 2025
How Our IFA Service Can Help
At Money Helpdesk, we connect you with Independent Financial Advisers (IFAs) who provide the objective, personalised advice that a digital platform cannot. While Nutmeg offers "guidance," an IFA provides a legally regulated recommendation for your specific situation.
Our IFA service helps you by:
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Independent Performance Audit: We compare Nutmeg’s managed returns against the wider UK market to see if you could get better growth elsewhere.
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Tax Mitigation: Ensuring your 2026 contributions and withdrawals are timed to minimise your tax liability, especially if you are a high earner.
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Legacy Asset Protection: We check your old employer pensions to ensure you don't lose "Guaranteed Annuity Rates" or "Protected Tax-Free Cash" before you consolidate into Nutmeg.
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Whole-of-Market Comparison: We compare Nutmeg’s percentage fees against flat-fee providers to ensure you aren't overpaying as your pot grows.
Get started here to book a free, no-obligation chat with an IFA who can offer impartial advice about whether Nutmeg is the right solution for your pension needs.