More to the point, ask what YOU get for the 5% cut. You MAY get a service worth paying that amount for but you may not. In relation to pensions some key issues to consider are the charges levied, both on each contribution (e.g. bid-offer spreads or per contribution commissions etc.) and on an ongoing basis (e.g. annual management charges), fund selection available to you, flexibility (e.g. ability to transfer between funds, stop/start/modify contributions etc.). A good independent, professional pension advisor should be able to help you assess your needs and point you in the direction of suitable products/companies. Ideally such an advisor (e.g. an Authorised Advisor) should be paid on an agreed once off up front payment rather than via ongoing charges/commissions. After that you should aim to minimise charges. Be wary of intermediaries who are not truly independent and simply take their cut for doing something that you could do yourself.