Pension and investment providers

Personal pensions are available from banks, building societies and life insurance companies, and some employers offer them as workplace pensions. Stakeholder pensions, a flexible type of personal pension, come from a bank, building society or insurance company, and trade unions may also offer them to members. Investment platforms provide self-invested personal pensions and ready-made portfolios.

Protection depends on the type of pension and what the provider was doing with the money. The Financial Services Compensation Scheme covers some pension and investment claims, and the Pension Protection Fund protects certain workplace schemes when an employer becomes insolvent. The rules differ by scheme type, so check the provider's page and the scheme's own documents.

Yes. Providers may charge for starting and running a pension, and usually take a percentage from your pension fund. Drawdown providers may also charge a fee for each withdrawal you make. Charges vary widely between providers and by pot size, so it is worth checking the provider's own charges before deciding.

There are no comparison sites for personal pensions. You either search and compare the options yourself, or pay a financial adviser to help. Advisers typically charge an initial fee of between 1% and 4% of your pot, plus an ongoing annual charge of between 0.5% and 1.5%.

A stakeholder pension is a flexible personal pension, provided by a bank, building society or insurance company. Trade unions may also offer them to members. Like other personal pensions, the money you pay in is invested by the provider, and the provider may charge a percentage of your fund for running it.

Pension Wise, run by the Money and Pensions Service, gives free guidance on your options for taking a pension. The Financial Ombudsman Service can look at complaints about personal pensions and workplace schemes, and The Pensions Regulator takes reports of concerns about workplace pensions, including missing payments.