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Royal Bank Personal Pension

Are you ready to plan your future?

You must be over the age of 18 and under the age of 75 and be a UK resident for tax purposes. You cannot access your pension benefits before the age of 55. The value of investments can fall as well as rise, and you may not get back the full amount you invest. Eligibility criteria, fees and charges apply. When transferring any existing pensions, exit fees may apply.

What is a personal pension?

A personal pension is a long-term investment account designed to help you build money for retirement.
  • You can set it up yourself and choose how to invest the money. The government adds tax relief, and your investment has the chance to grow free of UK taxes.
  • When you turn 55 you can take money out of your pension (this is going up to age 57 in 2028). You could take 25% as a tax-free lump sum and use the rest to provide an income.
  • If you work for a company, look into whether you can open or add more money to a workplace pension before thinking about a personal pension. A workplace pension may be a better option for people who work for a company.  

How a personal pension works

1. Select the amount

Choose the amount you want to put away each month towards your pension. Get instant tax relief on what you pay in – a payment of £100 into your pension turns into £125 (limits apply). If you have any existing pensions, select the pension(s) you would like to transfer.

Find out more about pension tax relief here.

2. Choose your risk level and see what you could get back

Five ready-made funds to match your retirement goals and investment style. You’ll also learn how your investment could perform over time.

3. Transfer your existing pension(s) or pay in to your pension

You can make one-off contributions and set up monthly payments. If you have any existing pensions, you can transfer them by providing your pension reference numbers. Your existing provider might charge fees for the transfer.

Why choose a Royal Bank Invest Pension?

Aligned to your goals

Five ready-made funds – choose the one that suits your retirement goals and investment style. Start from £50.

Expertly managed

Your money is looked after by a team of experienced investment managers at Coutts, who manage the fund, and by Embark who provide and operate your pension.

Low fees

We keep fees low so you keep more of any money you make.

Your fees will be 0.55% of your investment or less, which is 55p for every £100 of your investments. 

24/7 online access

You’ll always have transparency over your money. Keep track, add a lump sum, and set up or change monthly payments whenever you like – within Royal Bank Invest, accessible via the mobile app and Digital Banking.

Two simple ways to open a Royal Bank Invest Pension

Looking to start a pension?

Opening a pension could help you plan for your retirement.

Starting a pension is a tax efficient way to prepare for retirement. Beginning this journey sooner rather than later could mean more cash for you later in life.

Start from £50 and add to it with a lump sum or regular monthly payments. It’s quick and easy to set up, you will need your national insurance number to begin.

 

Already have a pension?

Multiple jobs throughout your career could mean multiple pension pots.

Managing multiple pensions in one place could make it easier to plan for the future.

You could transfer your existing pension(s) to us by providing your pension reference numbers which you will be able to find on a recent statement or pension portal. You can also make lump sum or regular monthly payments.

Your existing provider might charge fees for the transfer. 

How much does it cost to invest with us?

Your fees will be 0.55% of your investment or less

We get that figuring out investment costs can be tricky. Our dedicated costs and fees page will make it easy for you to know what you'll pay as a customer.

Retirement? Sorted. It's simple and quick to set up or transfer a personal pension with Royal Bank Invest.

Your top questions on personal pension plans answered

Your investments are protected

The Personal Portfolio Funds available through Royal Bank Invest are based in the UK and so are covered by the UK Financial Services Compensation Scheme (FSCS), up to a maximum of £85,000 per person.

Something else we can help you with?