Planning ahead? Become a Bestinvestor with a Self-invested Personal Pension (SIPP) and create a brighter financial future for you or a child.
With investment, your capital is at risk.
Tiered service fees mean you pay lower fees for larger pensions, with no set-up charges when you open your account.
Let our experts manage your investments, invest with help from a coach or take care of everything yourself.
Open a pension by investing or transferring**, use all our free investment insights and call our UK-based experts if you need help.
Almost any UK resident under the age of 75 can save into a SIPP. You can open a SIPP for yourself or somebody else, such as a partner or a child. But before opening an account you should make sure you will use the extra control and choice that SIPPs give you. SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choice that SIPPs give you, then a SIPP might not be right for you.
You can contribute up to £2,880 a year into a SIPP on behalf of a child and this should build up a surprisingly large fund for when they retire. Because of the length of time the money will be invested, even small amounts can grow quite substantially, but remember, the value can fall as well as rise and you may get back less than invested.
If you already have a number of different pensions, you can bring them together into a Best SIPP and gain more control of your retirement investments. We’ll even pay up to £500 towards any exit fees that your existing providers charge. See the terms and conditions here. Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (In which case it is very unlikely to be advisable to transfer). Have I considered the charges on my current plan? (A new arrangement may be more expensive – especially if you have a stakeholder pension).
Up to £250,000
0.2%
£250,000 - £500,000
0.2%
£500,000 - £1,000,000
0.1%
Over £1,000,000
No charge
Up to £250,000
0.4%**
£250,000 - £500,000
0.2%
£500,000 - £1,000,000
0.1%
Over £1,000,000
No charge
There are no set-up fees, no fund dealing charges and we pay up to £500 towards your exit fees (see our terms and conditions) when you transfer your pensions*.
How much can you pay into a pension?
You can usually contribute as much as you earn each tax year, up to £40,000 – this is called your annual allowance. The allowance is reduced to a minimum of £4,000 for higher earners. If you earn enough, you are able to carry over unused annual allowance from the last three tax years through pension carry forward.
Need help with pensions?
Book a free financial planning session with one of our coaches. They can help you take stock of any pensions you might already have to make sure your retirement is on track.
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Let the experts manage your investments, choose one of our Ready-made Portfolios
SIPPs are not suitable for everyone. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you. Please contact us for guidance or advice if you are unsure.
*Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (in which case it is very unlikely to be advisable to transfer) Have I considered the charges on my current plan? (a new arrangement may be more expensive – especially if you have a stakeholder pension).
**minimum £120 per year.