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Provider review

Legal & General

Last verified: Q2 2026 · Source: provider fee page
Fee model
0.25% service charge per year, no tiers, no cap. Fund management charges of 0.14%–0.31% apply on top.
Flat percentage · No SIPP · Workplace available
Annual platform fee by pot size
£25,000 pot
£63/yr
0.25% effective
£50,000 pot
£125/yr
0.25% effective
£100,000 pot
£250/yr
0.25% effective
£250,000 pot
£625/yr
0.25% effective
£500,000 pot
£1,250/yr
0.25% effective
£1,000,000 pot
£2,500/yr
0.25% effective
Platform fee only. Fund charges (OCF) are additional: 0.14%–0.31% fund management charge (on top of service charge)
Note: L&G is overwhelmingly a workplace provider. The 0.25% service charge is for the direct personal pension/drawdown only. Workplace charges are employer-negotiated (typically 0.30%–0.50% all-in). L&G does not offer a SIPP with broad fund or share access.

Legal & General is one of the UK's two largest workplace pension providers by assets under management, but its direct-to-consumer offering is deliberately simple. The personal pension and drawdown products charge a flat 0.25% service charge — competitive in isolation — but the fund range is limited to just 5 multi-index funds. There is no SIPP, no share dealing, and no access to third-party funds. L&G is best understood as a workplace pension giant: if your employer uses L&G, you benefit from employer-negotiated rates and automatic contributions. For self-directed investors seeking broad fund choice, L&G's direct products are too limited. The 0.25% rate is honest and transparent, but the total cost including fund charges (0.14%–0.31%) pushes the all-in rate to 0.39%–0.56%.

Strengths
  • +Simple, transparent 0.25% platform fee
  • +One of the UK's largest pension providers
  • +Strong workplace pension infrastructure
  • +No minimum contribution
Limitations
  • –No SIPP — cannot access individual funds or shares
  • –Only 5 fund options on direct pension
  • –Total cost higher than headline (fund charges on top)
  • –Very limited for self-directed investors
Details
Fund range5 multi-index funds plus Default Investment Option — no individual fund or share selection
Minimum investmentNo minimum contribution
Typical fund OCF0.14%–0.31% fund management charge (on top of service charge)
SIPPNo
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Things to consider
  • •Fees shown are platform fees only — you also pay fund-level charges (OCF) on top, which vary by fund choice.
  • •Fee structures change without notice. Always verify the current fee on the provider's website before making any decision.
  • •The cheapest provider is not necessarily the best fit — consider fund range, customer service, platform features, and the specific funds you want to hold.
  • •Transferring a pension may involve exit fees, loss of guaranteed benefits, or loss of employer contributions. Check before you transfer.
  • •This page is factual information based on published fee schedules, not a recommendation to use or avoid any provider.
  • •If you're unsure which provider is right for you, speak to an FCA-regulated financial adviser.

This calculator provides estimates based on 2026/27 tax rates and is not financial advice. Scottish taxpayers are subject to different income tax rates and bands. The calculations assume your salary is your only source of income and do not account for benefits in kind or other taxable income.

For personalised guidance on your pension contributions, speak to an FCA-regulated financial adviser. You can find one via Unbiased or VouchedFor.