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Switch DIY pension provider and save £22,800 before retirement, Which? reveals July 24, 2021, 12:04 am
Pension savers could potentially tuck away more than £20,000 in the run-up to retirement simply by switching DIY providers, according to Which? (PA)
Pension savers could potentially save more than £20,000 in the run-up to retirement simply by switching “DIY” providers, Which? has found.
Self-invested personal pensions (Sipps) have become a popular way for savers to build and manage their own retirement pot of shares, funds, investment trusts and other assets, often at a cheaper price than traditional pension providers, according to the consumer group.
But Which? warned that savers need to have the time and confidence to build and manage their own investment portfolio.
Vanguard and AJ Bell Youinvest have scored best marks in a new customer survey of top DIY investment platforms, while the biggest player Hargreaves Lansdown lagged behind in sixth place.
The pair topped the survey of value for money, online tools and customer service at 11 major DIY investment platforms, following a poll of 2,000 members of influential consumer group Which?
Customer sign-ups to investing sites have soared during the pandemic, as people who have seen cash pile up during the crisis have sought better returns than the poor interest rates available in savings accounts.
Hargreaves Lansdown remains the largest DIY investment platform, and won record levels of new business over the first four months of the year, but it is increasingly being challenged by Interactive Investor and AJ Bell.
DIY investors rate Vanguard and AJ Bell top for value and service thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.