Standard Life pension charges: its published total for the Personal Pension ready-made option is 0.55% (correct at 09 October 2026), with no exit fee.

The total charge Standard Life publishes is for one product and one investment option. Its website says it "describes products and services provided by Phoenix Life Limited, trading as Standard Life". This page sets out what Standard Life's own documents say about its Personal Pension, how transfers and drawdown are treated, and where to find the charge on a plan you already hold. This guide is independent of Standard Life and does not speak for it. If you are thinking of taking money out, MoneyHelper says Pension Wise "is free, impartial and backed by government". To have your own pots looked at as a whole, an FCA-authorised adviser can pick up your question from the form on this page.

What Standard Life says it charges on a Personal Pension

Standard Life's Personal Pension charges page splits the cost into two parts. It describes a Total Fund Charge as "What you’ll pay for investing in a fund – made up of the Investment Charge and Additional Expenses", and a Service Charge that "Covers the cost of administering your pension". The two together are the Total Charge: "This is what you pay."

The fund guide, a Personal Pension document with print code PP5AB 0626 and stated as correct as at June 2026, explains each part:

  • Investment charge. "We apply a charge to pay for the management of your funds." It is shown as an annual rate, but the guide says it is deducted from each fund daily, "which has the effect of reducing its unit price".
  • Additional expenses. These "may be deducted from some funds" and include "custodian, third party administration, trustee, registrar, auditor and regulator fees".
  • Service charge. The guide says "You’ll also pay a service charge of 0.45%, which isn’t included in the Total Fund Charge", and that it is "taken monthly in advance when fund units are cancelled".

Standard Life's page says "You can choose from over 50 investment options, so the exact charge you pay will depend on the investments you choose."

The ready-made option and the fund range

Standard Life's page says of its ready-made option: "The Total Charge you'll pay is: 0.55%. This is made up of a Service Charge of 0.45% and a Total Fund Charge of 0.10%." The page adds: "The charges shown are for the most expensive fund within this investment option - so you may pay less." It marks these as "Figures correct as at 09 October 2026" and says "Charges aren't guaranteed and can change in the future", so these are Standard Life's published figures on that date, not a fixed price. The fund guide (PP5AB 0626) names the ready-made option as the "Sustainable Multi Asset Universal (Series F) Strategic Lifestyle Profile", with a Total Fund Charge of 0.10%, and its table of other profiles puts the Sharia Universal profile at 0.38%. The guide says these figures "reflect the charges of the most expensive fund in which the lifestyle profile invests"; they are fund charges only, with the 0.45% service charge on top.

Standard Life's own page also says that fund transaction costs are not part of the figures. It explains: "To make it easier to compare charges between providers, we don’t include fund transaction costs in our charges." What counts as a charge and what is capped in law is covered in pension charges and fees.

As Standard Life's transfer page puts it: "A pension is an investment. Its value can go down as well as up and could be worth less than was paid in."

Transfer and exit fees

Standard Life's transfer page says: "At Standard Life, we don’t charge you for transferring a pension to us. But your old pension providers may charge you an exit fee for leaving." It also says "Some pensions have exit fees, so check before you transfer (we never charge exit fees)." Its Personal Pension charges page lists "No exit fees".

The same transfer page warns that "Charges aren't transferable from your old plan which means you might pay more in your new plan", and that "You may also have pension benefits or guarantees you'd lose on transfer." Moving is therefore a comparison of charges and of what each pot carries, which is the subject of pension transfer fees and how to transfer a pension. Standard Life offers a tool on its site that it says shows "an illustration of how your Standard Life pension charge compares with another provider", and adds: "Charges are just one factor to consider when thinking about transferring to another pension provider."

A lower charge on one side and a guarantee on the other can point in different directions. Setting the two against each other for the pots you actually hold is work for an FCA-authorised adviser, free to contact via the form on this page.

Workplace pensions, SIPPs and older plans

The figures above are for the Personal Pension. Standard Life's Costs and charges page asks you to "choose the type of pension policy you have", and its list includes "Active Money Personal Pension", "Active Money SIPP", "Group SIPP" and "GPP (all versions)", among many others. Workplace and older plans have their own charges, so the 0.55% is not what every Standard Life customer pays. Default-fund rules for automatic enrolment are in the auto-enrolment guide, and choosing a scheme provider in workplace pension providers. For the plan itself, see what a Standard Life pension is, and for its funds Standard Life pension funds.

How to find out what you pay

Standard Life says "If you're an existing Standard Life customer you can login to see up to date information on the charges associated with your plan." If you do not know your plan type, its Costs and charges page says "You can find this by logging in to your online account or checking a previous annual statement." With the plan type and the funds you hold, the general checklist in pension charges and fees covers what else to ask.

Be careful with anyone who contacts you about moving your Standard Life pension. The FCA says: "If you get a call out of the blue (a cold call) about your pension, the safest thing to do is hang up. It’s illegal and probably a scam." The FCA's pension scams page sets out what to look for. If you hold pensions with more than one provider, an FCA-authorised adviser can compare your Standard Life charges with the rest in a single conversation, arranged through the form on this page.

Standard Life pension charges: questions people ask

What does Standard Life charge on pension drawdown?

Its drawdown page says: "It's free to set up a flexible drawdown income with Standard Life. We don't charge for withdrawals, buying, selling or switching funds." The charges on the funds you hold still apply, and the page adds "You're responsible for investment choices, managing your money and making sure your pot lasts as long as you need it to." Comparing providers is covered in choosing a drawdown provider.

Do I keep an employer's discount on charges after leaving?

Standard Life's Costs and charges page says "you keep any employer negotiated discounts on charges even when you leave your job, and this applies to any pensions you transfer in too." Your statement or online account shows the charge on your own plan.

Is a Standard Life pension a SIPP?

Not necessarily: Standard Life lists the Personal Pension, an "Active Money SIPP" and a "Group SIPP" as separate plan types, and your statement says which you hold. The SIPP guide explains what a SIPP is.

Sources, accessed 18 October 2026: Standard Life (Phoenix Life Limited), Personal Pension charges, transfer, drawdown, Costs and charges and charge comparison pages; Standard Life, Personal Pension fund choices and charges guide, print code PP5AB 0626; FCA, Pension scams; MoneyHelper, Pension Wise (archived copy).