Zurich is a global insurance heavyweight with a long-standing history in the UK retirement market. While many people associate the brand with general insurance, Zurich is a major player in the workplace and personal pension space, particularly since absorbing legacy brands like Allied Dunbar and Eagle Star.
In 2026, Zurich focuses on a "target-based" investment philosophy. Their range of Target Drawdown and Target Lump Sum funds is designed for savers who want their investments to automatically align with their specific retirement year.
If you would like independent advice about whether Zurich is the right pension provider for you, get in touch below and one of our independent financial advisers will review this.
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including Zurich.
Whether you want to transfer your pension to Zurich 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:
Zurich Pension Products
Zurich offers solutions for individual savers, employees, and those using financial advisers.
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Workplace Pensions (ZIO): Zurich International (ZIO) is a primary choice for many corporate employers. It features the ZIO Members App, which was significantly updated in 2025 to offer real-time tracking, goal setting, and contribution management.
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The Zurich Personal Pension: A flexible retirement plan often used for consolidating older pots. It offers tiered pricing based on the size of your fund, typically ranging from 0.70% to 0.85% (excluding individual fund costs).
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With-Profits Funds: Zurich manages several legacy with-profits funds (including the 90:10 fund). These use "smoothing" to protect against market volatility, although many are now closed to new investors.
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Lifestyle Profiles: Most Zurich plans use a "glidepath" strategy. For example, the Target Drawdown 2026 Fund is currently heavily weighted toward lower-risk assets to protect the pot for those retiring this year.
Putting a Zurich Pension into Drawdown
Zurich has streamlined its transition from saving to spending, though it often requires a move into a specific plan to unlock full drawdown flexibility.
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Flexi-Access Drawdown: To take a regular income while staying invested, you typically need to move your savings into the Zurich Flexible Drawdown Plan.
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Tax-Free Cash: You can take your 25% tax-free lump sum directly. Zurich is noted for processing these payments efficiently, often within 5 to 10 working days once the paperwork is verified.
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Target Drawdown Funds: These funds are unique because they don't just "de-risk" into cash; they move into a mix of assets specifically designed to be sustainable for long-term withdrawals.
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Annuities: Zurich offers its own annuities but also facilitates "Open Market Option" transfers if you want to buy a guaranteed income from a different provider like Legal & General or Aviva.
Reviewing and Transferring Your Zurich Pension
Reviewing a Legacy Pot
If you have an old Allied Dunbar, Eagle Star, or Zurich Assurance policy from the 1990s, a 2026 review is essential:
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Fee Leakage: Older policies often have "bid/offer spreads" or high fixed policy fees (£2–£5 per month) that modern plans have scrapped.
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Performance Check: Some legacy funds have "guaranteed growth rates" that are actually lower than current 2026 market trackers. A review ensures you aren't stuck in an obsolete fund.
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Digital Access: You can now link most old Zurich pots to the ZIO digital portal, allowing you to manage everything on your phone for the first time.
Transferring To and From Zurich
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Transferring IN: Zurich accepts pension transfers of £10,000 or more. They are members of the Origo network, making most electronic transfers complete in 10 to 15 working days.
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Transferring OUT: Zurich famously does not charge exit fees on its modern personal and workplace pensions.
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Advice Requirements: If you are moving a pot worth over £30,000 from a Zurich with-profits fund that has a "guaranteed" element, you may be required to seek independent advice first.
Pros, Cons, and Customer Reviews
The Pros
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Global Security: One of the world's most financially stable insurers.
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Target Funds: Excellent "set-and-forget" funds tailored to your specific retirement year.
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Modern App: The ZIO app is highly rated for its simplicity and retirement planning tools.
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No Exit Fees: Total freedom to move your money if you find a better deal elsewhere.
The Cons
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Administrative Complexity: Because they have so many legacy brands, you may find yourself dealing with different "tiers" of customer service depending on the age of your policy.
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Limited Direct Investment: You cannot buy individual stocks or ETFs; you are restricted to their managed fund range.
Customer Consensus
The consensus on platforms like Trustpilot and Smart Money People in 2026 is that Zurich is a "reliable giant." The majority of positive feedback centers on their professionalism and integrity, with many customers highlighting instances where Zurich "patiently tracked them down" to pay out long-forgotten legacy pots.
However, a secondary consensus points toward a divide in digital experience. While users of the new ZIO workplace app are generally delighted, those with older personal pensions occasionally report frustration with "clunky" older websites and the need to still use paper forms for certain legacy requests. There is also a recurring theme of "competent but slow" customer service during peak periods.
"I had a pension with Allied Dunbar from 30 years ago. Zurich found me at my new address and made the claim process incredibly easy. The staff were professional and spoke in plain English." — Trustpilot Review, Jan 2026
"The ZIO app is great for seeing my workplace balance, but I wish I could pick my own funds like I do in my Vanguard SIPP. It's a very safe option, but maybe a bit basic for active investors." — Member Review, Feb 2026
How Our IFA Service Can Help
While Zurich is a solid provider, an Independent Financial Adviser (IFA) can help you decide if their "target" approach is right for your unique circumstances.
Our IFA partners help you by:
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Legacy Audit: We specialize in analyzing old Allied Dunbar and Eagle Star pots to see if they are better off being moved into a modern Zurich plan or an external SIPP.
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Smoothing Analysis: If you are in a with-profits fund, we calculate the "Market Value Reduction" to see if it’s the right time to exit.
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Drawdown Strategy: Helping you bridge the gap between your Zurich target fund and your State Pension.
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Fee Comparison: We calculate if Zurich’s tiered charges are more expensive for you than a flat-fee provider like Interactive Investor.
Get started here to begin a free, no-obligation chat with an IFA who specialises in Zurich’s pension range and can review whether they are the right provider for you.