She was refitted at Devonport from 25 August to 17 December and was paid off on 28 February 1910. The following day Bulwark recommissioned into the reserve at Devonport with a nucleus crew as the flagship of Vice-Admiral George Neville, Vice-Admiral of the 3rd and 4th Divisions, Home Fleet, at the Nore, with Captain Cunningham Foot in temporary command. He was relieved by Captain George Hope on 18 March. Bulwark participated in the annual manoeuvres in July and she began a brief refit on 30 December that was completed on 25 February 1911. Captain Edmund Hyde Smith relieved Hope on 24 March and Vice-Admiral Prince Louis of Battenberg assumed command of the 3rd and 4th Divisions. Bulwark was paid off on 25 April, and Prince Louis hauled his flag down that same day. She was recommissioned as a private ship the next day with a nucleus crew. The ship was present during the Coronation Fleet Review of King George V at Spithead on 24 June. Bulwark arrived at Chatham on 23 July to unload her ammunition and stores in preparation for an extensive refit that began on 1 September and lasted until 1 May 1912. By this time, a pair of the 3-pounders had been repositioned on the bridge and the others had been removed. While conducting sea trials, the ship grounded twice on Barrow Deep off the Nore during refit trials on 4 May 1912, extensively damaging her bottom. Repairs were not completed until the end of the month. On 4 June Captain Herbert Chatterton recommissioned Bulwark which was assigned to the 5th Battle Squadron (BS) of the Second Fleet. She briefly served as the flagship for the second-in-command of the squadron from 20 August until September, when his own ship returned. Aside from occasional gunnery practice, the ship was very inactive for the rest of the year; for example, she did not leave Spithead from 18 November 1912 to 25 February 1913. Bulwark was refitted at Portsmouth from 14 April – 4 June. The ship participated in the annual fleet manoeuvres in August and returned to Spithead on 30 October where she remained for the rest of the year. Captain Guy Sclater relieved Hyde Smith on 17 November. Bulwark was visited by King Christian X of Denmark when he inspected the squadron on 9 May 1914. On 22 May, she began her annual refit at Chatham which was