Legal & General pension fees vary by product: the Personal Pension has a 0.25% service charge plus fund charges; workplace charges are set per employer.
There is no single L&G pension fee. The figures below come from L&G's own key features documents, fee schedule and web pages, each dated. Struggling to read your L&G statement? Leave a line in the form on this page; a firm of FCA-authorised advisers rings back, without a fee.
Which L&G pension are you paying for?
L&G sells pensions in two ways, and the charges are set differently in each. A workplace pension is arranged by your employer, and L&G's key features say the main charge is "something we agreed with your employer". A personal pension is one you open yourself, and its key features publish its charges. See what a Legal & General pension is and how its workplace pension works.
L&G's guide to pension charges says its pensions typically have "an Annual Management Charge (AMC), Fund Management Charge (FMC) and transaction costs", and adds "However, every provider is different." The AMC (or, on the Personal Pension, the service charge) pays for running the plan and is deducted from the pot itself. The FMC pays for managing the funds and is built into the unit price, so it never appears as a deduction. What each kind of charge means in general is in pension charges and fees.
The L&G Personal Pension: the published figures
The Personal Pension key features (document Q0059826, April 2026) name two charges:
| Charge | What L&G's documents say |
|---|---|
| Service charge | "The service charge is 0.25% of the value of your Pension per annum, calculated daily and deducted monthly." It is taken "from any uninvested cash that’s available or otherwise by selling units in the Fund you’re invested in". |
| Fund management charge | Differs from fund to fund. The worked example is the Multi-Index 3 Fund, "which has an FMC of 0.31% (as at May 2024)", so treat it as a dated example. The Personal Pension web page, read on 19 October 2026, also gives a 0.31% fund management charge but does not name the fund. |
On savings of £5,000 held throughout the year, the document puts the service charge at £12.50. The FMC "isn’t taken directly from your pension pot", because it is reflected in the unit price, and "In addition to the OCF, transaction costs may also impact Fund values." Charges are not fixed for ever: "In certain circumstances we may need to change our charges, but we’ll tell you before any changes happen."
Choosing between L&G's funds is covered in choosing a Legal & General pension fund. Whatever you hold, the value of investments can fall as well as rise, and you may get back less than was paid in.
L&G workplace pensions: a charge agreed with the employer
The Group Stakeholder Pension Scheme key features (W13785, June 2026) describe a Basic Annual Management Charge, which they say "is something we agreed with your employer", and an Additional Funds Annual Management Charge that "may apply if you are invested in certain funds with higher charges, or in funds not managed by Legal & General". One edition of the WorkSave Pension Plan key features (Q0052996, April 2026) describes an AMC that "covers the cost of running your plan". Both leave the rate to the employer's agreement. The WorkSave document gives an illustration only: an AMC of 0.87% on £10,000 would be £87 over a year, followed by "Your AMC may be higher or lower than in the example we give you in this document." The stakeholder document's illustration is a 0.5% total on £5,000, or £25.00 a year. Both are examples, not L&G's rates.
Your own figure is in the personal illustration sent after enrolment: "This will show the charges that apply to you and how they will affect your pension savings." If the AMC rises, "we’ll tell you before any change happens."
Default fund charges
In that WorkSave edition, the default funds for the company scheme are the Lifetime Advantage Funds. Their FMCs "vary from a maximum of 0.28% and minimum of 0.15% (as at 1 April 2026)". The document lists, for example, 0.15% for the 2025–2030 fund, 0.23% for 2035–2040 and 0.28% for 2040–2045. These are FMCs only, on top of the plan's AMC, and they change over time.
An older WorkSave fee schedule, dated November 2023 (print code Q0058805 11/2023), also covers a self-invested arrangement, listed under "Self-invested documents if your employer has made this available to you". As at that date it showed an installation charge of £200 plus VAT, an AMC of 0.50% plus VAT of the self-invested assets with a maximum of £375 plus VAT a year, and £20 plus VAT for each purchase or sale. For your own arrangement, the schedule points to the information pack sent when you joined. For how self-invested pensions work generally, see the SIPP guide.
The 0.75% cap and L&G schemes
The 0.75% limit on default-fund charges in schemes used for automatic enrolment comes from two separate rules: regulation 6 of SI 2015/879 for occupational schemes, and COBS 19.6.6R in the FCA Handbook for workplace personal pension schemes. Which one reaches your L&G scheme depends on how your employer set it up, which your employer or L&G can confirm. How the cap works is in pension charges and fees.
The Group Stakeholder key features put it this way: "The government also sets another lower maximum charge when you are automatically enrolled into a pension. This is currently 0.75% a year but it only applies to the default investment option." The same document says "Legal & General does not currently charge more than 1.0% a year" against a stakeholder maximum of "1.5% a year for 10 years, followed by 1.0% a year thereafter". L&G's charges guide adds that the cap does not cover transaction costs. The rules around enrolment are in auto-enrolment explained.
Charges that carry on: income, paused contributions, a move
Anyone approaching retirement can book free, impartial guidance through Pension Wise before choosing how to take a pension. On the Personal Pension, L&G's drawdown page says "We have a service charge of 0.25% of the value of your Pension per year. There is also a Fund Management Charge which differs from fund to fund." The key features add "There is no charge for you to withdraw money from your Pension", and that a flexible income can be varied or stopped "although you may be charged for doing so". For the investment pathway funds used in drawdown, the fund charges are on L&G's website. How drawdown itself works is in the drawdown guide.
Charges carry on after you stop paying in: L&G's workplace FAQs say "We'll still take charges from your fund even if you stop contributions." The same FAQs say that if you move your pension away, "We won’t charge you to do this." Charges at the receiving provider, and what you might lose by moving, are covered in pension transfer fees and how to transfer a pension.
Finding what you pay now
L&G's charges guide says your annual statement "should give you a full breakdown of every fee or charge you’re paying", and workplace members have the personal illustration. Add the AMC or service charge, any additional fund charge and the FMC of your fund; the result is a percentage of your pot each year, before transaction costs. Hold pots with other firms too? Note each one inside the form on this page; that lets an FCA-authorised adviser set your L&G charges beside them when calling back. For choosing between providers more widely, see choosing a pension provider and workplace pension providers.
Legal & General pension fees: questions people ask
What is the Legal & General annual management charge?
On a workplace plan it is the charge for running the plan, agreed between L&G and the employer, so no single figure applies. On the Personal Pension the equivalent is the 0.25% service charge in the April 2026 key features.
Does L&G charge a platform fee?
The Personal Pension key features name two charges, the service charge and the fund management charge. The WorkSave self-invested schedule lists an installation charge, an AMC and per-transaction charges, as set out above.
How do I work out my L&G pension fees in pounds?
L&G shows its charges as a percentage of your pot over a year. Its own example is a service charge of 0.25% on £5,000 held for the year, which it gives as £12.50. The calculation for your pot uses your own charge rates.
Does L&G charge to switch funds?
The Group Stakeholder key features say "We don’t charge for changing your investment funds, but this may change in the future." Other plans have their own documents.
Are there L&G charges once I start drawing an income?
Yes, the Personal Pension service charge and fund charges continue while the money stays invested. Withdrawals themselves carry no charge on that product, per the key features.
Your next step
The documents show how L&G builds its charges. Whether they suit your wider retirement plans is something to put to an FCA-authorised adviser; sending the form on this page costs you nothing.
Sources, accessed 19 October 2026: L&G, Key Features of the L&G Personal Pension (Q0059826, April 2026); Personal Pension and Pension Drawdown web pages; Key Features of the Group Stakeholder Pension Scheme (W13785, June 2026); Key Features of the WorkSave Pension Plan (Q0052996, April 2026); Fees and charges schedule (Q0058805 11/2023); workplace pensions FAQs; Pension fees and charges explained (11 December 2025); SI 2015/879 regulation 6; FCA Handbook COBS 19.6. L&G's figures can change.