As dentists, your pension arrangements may differ from the norm — whether you have a defined benefit scheme, a workplace pension, or need to set up your own SIPP. This guide covers everything you need to know.
- Check ongoing charges — a 1% fee gap can consume a quarter of a lifetime pot
- Capture the full employer match before any other saving — it's an instant 100% return
- Tax relief turns £80 into £100 (£60 for higher-rate payers) — use it
- Check your State Pension forecast — filling NI gaps is often exceptional value
Insider Notes
Unclaimed employer match is a pay cut you volunteered for: contribute enough to capture the full match — an instant 100% return before growth — before any other investing.
Your NI record is editable: gaps from career breaks can often be filled — a voluntary Class 3 year costs ~£800 and can add £300+/year for life. Check the forecast on GOV.UK before the buy-back window rules tighten.
Pension Options for Dentists
| Provider | Annual Fee | Type | Rating |
|---|---|---|---|
| Hargreaves Lansdown | 0.45% p.a. | SIPP | 5★ |
| AJ Bell | 0.25% p.a. | SIPP / LISA | 5★ |
| PensionBee | 0.50–0.75% p.a. | Combine pensions | 4★ |
| Aviva | 0.40% p.a. | Workplace / SIPP | 4★ |
| Vanguard | 0.15% p.a. | Low-cost index | 5★ |
Understanding Your Pension as Dentists
- Workplace pension — auto-enrolled by your employer, minimum 8% total contribution
- SIPP — self-invested personal pension, control your own investments
- NHS / Public sector pensions — defined benefit, exceptionally valuable
- State pension — £221.20/week (2026/27) after 35 qualifying NI years
- Additional voluntary contributions (AVCs) — top up your workplace scheme
How Much Should Dentists Save?
A common rule of thumb: save half your age as a percentage of salary. So if you start at 30, save 15% of salary. The earlier you start, the more compound interest works in your favour.
Pension Calculator
Use our free pension calculator to see what your retirement pot could look like based on your current contributions and expected retirement age.
Frequently Asked Questions
How much should I pay into a pension?
A rough rule: take the age you begin saving, divide by two — that's your target % of salary, including employer contributions. The 8% auto-enrolment minimum is a floor, not a plan.
Should I consolidate old pensions?
Usually, but check first. Beware exit fees and final-salary schemes, which you should almost never transfer out of.
What is pension tax relief actually worth?
Every £80 you contribute becomes £100 in the pot at basic rate. Higher-rate taxpayers reclaim another £20 through self-assessment — the most generous mainstream tax break available.
When can I access my pension?
Currently from age 55, rising to 57 in 2028. The first 25% is tax-free; drawing the rest slowly keeps you in lower tax bands.
Is the State Pension enough to live on?
For most people, no — it covers roughly a minimum standard only. Check your forecast on GOV.UK; filling National Insurance gaps can be exceptional value.
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