National Insurance Hike: Read our update
Compare the UK’s top workplace pension providers to find the right scheme for your business and employees.
Choosing the right workplace pension provider is one of the most important decisions for any business. Beyond meeting legal requirements, the best workplace pensions should streamline administration, provide excellent support, and empower employees to save confidently for their future.
In this guide, we compare the top workplace pension providers in the UK, helping you identify the best option for your business. From features to fund performance and fees, we’ve evaluated the top providers to make your decision easier.
The workplace pension market includes many options, but not all providers are created equal. To help you cut through the noise, we’ve focused on providers offering modern, effective solutions for businesses and employees alike. Here’s our list of the top workplace pension providers:
Each provider offers unique features, pricing structures, and fund performance. Below, we’ve broken down what makes these pensions stand out across three key areas: business features, fund performance, and employee benefits.
For businesses, the right workplace pension should be simple to manage and provide outstanding support. Features like dedicated account managers, compliance support, and payroll integrations are essential for reducing admin and meeting your obligations.
In independent ratings, Penfold stands out as one of the top-rated workplace pensions see our Trustpilot reviews and Workplace pension Defaqto rating, offering:
Other providers, such as Nest and Smart Pension, also offer payroll support, but fewer business-focused features like account managers or tailored compliance help.
Fees can significantly impact the value of workplace pensions. While some providers charge setup or admin fees, Penfold offers a no-cost solution for businesses:
In contrast, providers like Smart Pension and People’s Pension charge setup fees or ongoing admin costs, which can add up for businesses.
Fund performance plays a critical role in growing your employees’ pension pots over time. The chart below compares the annualised growth of default funds for leading providers over the last five years:
Penfold consistently delivers some of the highest net returns, ensuring your employees’ savings work harder. While other providers like NOW: Pensions and Standard Life lag behind in fund performance, Penfold combines strong returns with competitive fees.
A great workplace pension isn’t just good for your business—it’s also a valuable benefit for your employees. The best providers offer tools that empower employees to save effectively, with features like:
Penfold leads in this category with an intuitive app, a wide range of investment funds, and tools like pension combining, savings goals, and financial wellbeing programs. Providers such as Aviva and Cushon also offer strong employee features but may lack the same breadth of tools or ease of use.
With its focus on modern businesses and employee empowerment, Penfold offers one of the most comprehensive workplace pensions in the UK. Here’s why thousands of businesses trust us:
The right workplace pension can help businesses attract top talent, save time on admin, and provide employees with the tools to plan for a comfortable future. Penfold’s award-winning workplace pension includes all of this and more.
Request more information or get started with Penfold for free today and see why we’re trusted by thousands of businesses across the UK.
The best workplace pension provider depends on your business’s needs, but Penfold stands out for its support, fund performance, and employee features.
Consider factors like fees, fund performance, onboarding support, and tools for employees. Use our comparison table above to evaluate the leading providers.
Some providers, like Penfold, offer workplace pensions with no fees for businesses. Others may charge setup or admin fees, so it’s essential to compare costs.