Choosing the right retirement savings plan can be overwhelming, especially when faced with numerous providers offering similar products on the surface. If you’ve been researching Self-Invested Personal Pensions (SIPPs), you may have come across Wealth at Work.

Wealth at Work specialises in helping individuals make informed financial decisions, providing both managed SIPP solutions and educational resources. But is their SIPP offering competitive in today’s evolving financial market?

This review will take an in-depth look at the Wealth at Work SIPP, including its features, investment strategies, fees, customer experience, alternatives, and more. If you’re considering consolidating your pensions or opening a new one, read on.

What Is the Wealth at Work SIPP?

The Wealth at Work SIPP is a managed Self-Invested Personal Pension, designed to offer individuals greater flexibility in controlling their retirement investments. This type of pension allows investors to choose from a wide variety of assets, such as equities, bonds, and cash—tailoring a portfolio to their own risk profile and financial goals.

The SIPP is particularly well-suited to those looking for hands-on advice and professional management, rather than a completely DIY pension approach. It includes regular investment reviews and a digital portal for monitoring your progress.

Overview of Wealth at Work Ltd

Established in Liverpool in 2004, Wealth at Work has grown significantly by focusing on employer-sponsored financial education and bespoke pension solutions. The company manages over £2 billion in assets and serves more than 450 employers across the UK, including:

• Marks & Spencer
• BT Group
• Experian
• NHS Trusts

In recent years, the firm expanded through the acquisition of Affinity in 2016 and welcomed private equity investment from Aquiline Capital Partners in 2021. The executive team is led by CEO David Cassidy and Director Jonathan Watts-Lay.

Key Features of the Wealth at Work SIPP

The Wealth at Work SIPP offers a variety of core features that may appeal to individuals planning for retirement, especially those seeking guided advice and discretionary portfolio management. Below is a breakdown of what the SIPP includes.

Highlights:

• Full Investment Flexibility: Choose between equities, bonds, cash, and more.
• Discretionary Portfolio Management: Portfolios are managed by professionals based on your risk appetite and objectives.
• Two-Tier Asset Allocation: Portfolios use both core investment groups and sub-asset classes.
• Tax Benefits: Eligible for income tax relief and 25% tax-free withdrawal from age 55 (57 from 2028).
• Regulatory Security: Covered by the Financial Services Compensation Scheme (up to £85,000).
• Digital Tools: Use of a secure portal and the “my wealth invest” mobile app.

If you're new to SIPPs or looking to combine pensions, our SIPP requirements checklist can help you determine if this product fits your financial goals.

Investment Choices and Asset Allocation

Wealth at Work’s SIPP takes advantage of full market access. Investors can diversify across:

Primary Asset Classes:

• Cash
• Government and Corporate Bonds
• Equities

Geographical Spread (Equities):

• United Kingdom
• United States
• Japan
• Emerging Markets (e.g., South Africa, Brazil, Mexico)
• Asia Pacific (excluding Japan)
• Europe (excluding the UK)

Each portfolio is tailored using two-fold asset allocation:

1. Core Category Allocation — e.g., fixed income vs equities
2. Sub-Asset Refinement — e.g., regional diversification within equities

This approach allows for a well-balanced portfolio that aligns with your risk level and growth expectations.

Tax Benefits and Reliefs

One of the biggest advantages of SIPPs is the generous UK tax incentives. With the Wealth at Work SIPP, you benefit from:

• Income Tax Relief on contributions (claimed automatically by the provider for basic-rate taxpayers).
• 25% Tax-Free Lump Sum once you reach age 55 (rising to 57 in 2028).
• Inheritance Tax Benefits, depending on how you structure withdrawals and beneficiary designations. Learn more in our guide to inheritance protection in equity release and pensions.

Consult a qualified adviser before making large withdrawals, as accessing too much at once may push you into a higher tax bracket.

Costs & Fee Structure

Cost transparency is essential when assessing the value of a SIPP provider. Wealth at Work outlines their charges clearly:

Initial Setup Charges:

• 2% + VAT on the first £100,000
• 1% + VAT on the next £200,000
• 0.5% + VAT beyond £300,000

Annual Ongoing Fees:

• Discretionary Managed Portfolios: 1.5% + VAT (1.8%)
• Treasured Stock Service: 0.45% + VAT
• Additional Charges: 0.55% for third-party financial instruments
• Total Ongoing Charges: Approximately 2.4% per year (inclusive of all fees and VAT)

These fees are paid monthly in arrears. While not the lowest in the market, the level of expert advice and personalised management may justify the cost for many investors.

Looking for fee comparisons? View our Best Low-Cost SIPP Providers list for alternatives.

How to Open a Wealth at Work SIPP

Opening a SIPP with Wealth at Work follows a structured, advice-led process:

1. Initial Adviser Meeting
2. Financial Goal Assessment & Risk Evaluation
3. Receive Suitability Recommendation
4. Complete Application & Submit Documentation
5. Transfer Existing Pensions (if applicable)
6. Select Investment Strategy

You must be aged 18 or over, UK resident, and have a UK bank account to qualify.

Investment Management Approach

Wealth at Work uses a discretionary investment approach, meaning your funds are managed on your behalf once you agree to a strategy. This includes:

• Real-time portfolio adjustments
• Ongoing risk monitoring
• Quarterly investment reports
• Regular adviser reviews

Changes are made automatically, and you're kept informed through comprehensive, easy-to-read updates.

Withdrawals and Retirement Income Options

When it’s time to access your pension, Wealth at Work offers several flexible withdrawal methods:

• Lump Sum: Up to 25% tax-free, the rest taxed as income.
• Flexi-Access Drawdown: Invest the remaining funds and draw income as needed.
• Annuity: Guaranteed income through an annuity purchase.
• Combination: Blend of all the above.

Read more on accessing your pension through a tax-efficient drawdown strategy.

Navigating the Digital Platform & Mobile App

Wealth at Work’s digital platform is sleek, intuitive, and packed with features.

Key Features:

• View your investment performance in real-time.
• Access historical transaction records.
• Use educational tools and retirement planners.
• Receive alerts and financial news.

The mobile app, "my wealth invest," has received favourable feedback with a 4.4/5 rating on the App Store.

Customer Service & Support Options

Clients can reach Wealth at Work through:

• Phone: 0800 028 3200
• Online Contact Form (via their official site)
• Physical Office: 5 St Paul’s Square, Liverpool L3 9SJ

Wealth at Work is praised for its personalised customer support, particularly during the onboarding and retirement planning process.

Regulatory Protection and Data Security

Wealth at Work operates under FCA license number 417367 and is registered in England (Company No. 05225819). It’s also covered by the Financial Services Compensation Scheme (FSCS), ensuring protection up to £85,000 per eligible client.

Their digital systems use modern encryption standards, and a dedicated information security team ensures the platform remains resilient to threats.

Learn more about regulatory safeguards through the Equity Release Council, which also outlines protections related to retirement products.

Alternatives to Wealth at Work SIPP

If you're looking to compare SIPPs that offer either lower fees or more do-it-yourself control, consider:

• Fidelity SIPP
• Nutmeg SIPP
• PensionBee Personal Pension
• Best Vanguard SIPP Funds

Each offers a unique mix of investment strategies, platform usability, and charges. Compare options to find what suits your style.

Common Questions About the Wealth at Work SIPP

Final Thoughts on the Wealth at Work SIPP

The Wealth at Work SIPP stands out for people who value professional guidance, security, and hands-free investing. While the fee structure may deter budget-conscious savers, those who need a structured approach with expert advice may find excellent long-term value.

For more options, see our guide on Best SIPP Plan Checklist.

Disclaimer:
All details in this article were accurate as of July 2025. Rates, lending criteria, and eligibility rules may change over time. Please consult a financial adviser before making decisions based on this content.