Our low-cost SIPP charges
With pension investment, both the money you invest and the income from it can fall in value.
With a long-term investment like a pension, charges can eat into your returns and reduce the amount of money you have left for retirement. We try to keep our charges low, while also giving you the freedom and choice to build a pension that suits your needs.
About the Best SIPP
The Best SIPP is designed for people looking to invest at least £10,000 through any combination of one-off investments, regular contributions or transfers from other providers, within 12 months of opening the account.
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. If you're thinking about opening a SIPP but you're not sure if it's right for you, our Coaches can run you through the key features of this account including contribution limits and types, investment choices and withdrawal strategies. They won't be able to tell you whether you should or should not open this account but they can arm you with the information to know whether this is an account you can confidently manage yourself.
There are limits on the amounts that you can contribute to a pension each year. Private pensions cannot be accessed until age 55 (rising to 57 in 2028).
Annual SIPP service fees
We have a tiered structure for our Best SIPP annual service fees, so you pay a lower percentage for larger investments.
Our SIPP has a minimum service fee of £10 per month (£120 per year), excluding Junior SIPPs.
Ready-made Portfolios and US shares
| Investment value | Service fee |
| 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 |
Other investments
| Investment value | Service fee |
| 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 |
Example SIPP annual service fees
The below illustrations relate to our annual service fees. Ongoing fund charges (unique to each fund) and online dealing fees are not included.
Example 1
If you invest £10,000 in a SIPP with £5,000 invested in Ready-made Portfolios and £5,000 in third party funds or shares you would be charged the minimum service fee of £120 a year (£10 a month).
Fee breakdown
| Ready-made Portfolio funds | Other investments | SIPP minimum annual service fee | Total | |
| Invested amount | £5,000 | £5,000 | £10,000 | |
| Annual service fee | £10 (0.2%) | £20 (0.4%) | £120 fee applies as the calculated service fee (£30) is less than the minimum rate | £120 |
Example 2
If you invest £50,000 in a SIPP with £30,000 invested in Ready-made Portfolios and £20,000 in third party funds or shares your service fee would be £140 a year (£11.66 a month).
Fee breakdown
| Ready-made Portfolio funds | Other investments | Total | |
| Invested amount | £30,000 | £20,000 | £50,000 |
| Annual service fee | £60 (0.2%) | £80 (0.4%) | £140 |
Example 3
If you invest £100,000 in a SIPP with £60,000 invested in Ready-made Portfolios and £40,000 in third party funds or shares your service fee would be £280 a year (£23.33 a month).
Fee breakdown
| Ready-made Portfolio funds | Other investments | Total | |
| Invested amount | £60,000 | £40,000 | £100,000 |
| Annual service fee | £120 (0.2%) | £160 (0.4%) | £280 |
Dealing fees
- Online Fund dealing
We don’t charge you to buy and sell funds online, and there are no initial fees for most funds. - Online UK Share dealing
Online share dealing costs just £4.95 per trade, no matter how many shares you buy and sell. - Telephone dealing
Transactions made over the telephone are subject to a £30 fee per trade.
For funds and ETFs there are underlying fund management charges set by the fund manager. These can include an Ongoing Charges Figure (OCF) and sometimes an initial entry charge (although in most cases this is 0%). These fees are specific to each fund/ETF and you can find information about the fee on each fund/ETF factsheet on our investment search tool.
For an overview of dealing-related fees you may be charged, see the 'Dealing fees' section of our main fees page or read the Key Facts about Our Services and Costs document.
Is there a charge to open a Best SIPP or transfer pensions from another provider?
We don't charge you to open a Best SIPP account or transfer pensions from elsewhere. We’ll also pay you up to £500 towards any exit fees your current providers charge (see our terms and conditions).
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).
- Have I checked the investment options available and whether I need the wider choice offered by a SIPP as a new arrangement may be more expensive?
- If the pension is an employer-related plan, have I checked if the employer will cease to pay in benefits if it is transferred elsewhere?
We do not accept transfers from employer pension schemes that contain any type of defined benefit or guarantee unless your financial adviser has recommended you to do the transaction.
How can I open a Best SIPP?
Opening a Best SIPP is as easy as completing a short online form. If you’d prefer you can fill out the paper application forms or call our experts and they will be happy to guide you through the process. You can open your pension by paying in a lump sum, setting up regular savings or transferring other pensions.
Speak to us
Find out more about our Best SIPP and its charges by contacting our team:
Speak to us
Our friendly team can help you with any concerns you have about your pension: