Four providers accounted for over two thirds of all personal pension recommendations from financial advisers using Defaqto’s Engage software in 2024.

Royal London, Aviva, Quilter and Prudential products accounted for over 79% of personal pension plan recommendations made through the software.

Royal London’s Pension Portfolio Core Investments proposition received over a third (33%) of the recommendations.

Aviva was the only provider which had two propositions within the top ten, taking second and eight positions, and a combined market share of 21%.

Top ten recommended personal pension plans in 2024

Source: Defaqto, 20 February 2025

Richard Hulbert, insight consultant at Defaqto, said it was interesting to see Prudential perform better in the personal pension plan recommendations table than the equivalent review in the SIPP market.

He said: “The Prudential 11.0% market share is interesting, because in the equivalent review of the SIPP market it attracted 6.1%. Perhaps a reflection that smoothed managed funds are more of a natural fit with those using PPPs.”

Personal pension plans were introduced in the 1980s, with the sector now featuring 50 retail products from 34 providers, according to Defaqto.

The data firm claims that it’s Engage research software is used by over a third of advisers in the UK.