If you’re saving for your retirement, choosing the best pension company could make all the difference. But there are so many different providers with different schemes, fees and investment options – it’s hard to know who to choose.

Thankfully, there are some good ways to compare the performance of pension companies. First of all, check if your provider is regulated by the FCA, the DWP or the FSCS. This ensures that your money is safe if the firm fails.

Then, look at their past performance. Find out which pension funds they’ve been the most successful at managing over the past 20 years – and which ones have been lagging behind.

Securing Your Future: Navigating the Landscape of the Best Pension Companies

Merrion Investment Management has been a standout performer. Between 2010 and 2020, they grew at an impressive rate of 21.7% – that’s well above the average fund growth of 8.5% over that period. By contrast, Setanta Asset Management and New Ireland have struggled to keep up. They both fell back to around the average fund growth in 2020 with 6.2% – not good news when you’re saving for retirement.

Also, consider whether your provider offers a range of investments that match your goals and risk appetite. Some pension schemes offer a limited selection of funds, so you might be missing out on potential returns. Moneyfarm, for example, can help you invest in a range of funds based on your personal situation and objectives. It can also manage your portfolio around your target retirement date – reducing your exposure to risk as the date gets closer.