Best for Beginners and the lowest cost
No account fee and free dealing, from £1. Shares and ETFs only, and personal contributions only.
Visit Trading 212
Capital at risk.
Best SIPP Providers UK 2026
We compared 12 UK SIPPs and five managed pensions on what they cost at your pension size, what you can hold, and whether they take employer payments and offer drawdown.
Some links are affiliate or referral links. Capital at risk. Pension rules apply.
Quick answer: how to choose a SIPP
Check what it costs at your pension size, whether it holds what you want, and whether it takes employer payments and offers drawdown if you need them.
- New to investing or starting small? Trading 212 charges no account fee and no dealing commission, from £1. Our pick: Trading 212.
- Paying in through your limited company? Choose a SIPP that takes employer payments, such as AJ Bell, HL, Fidelity or interactive investor. Trading 212, InvestEngine, Freetrade and Moneybox take personal contributions only.
- Holding funds in a large pension? Percentage fees add up. On £100,000 in funds you would pay £350 a year at HL, against £72 at interactive investor.
- Want it managed for you? Managed pensions pick and rebalance your investments for a higher yearly fee.
- Close to taking an income? Check drawdown first. Trading 212, Freetrade and Plum do not offer flexi-access drawdown.
- Investing outside a pension too? Compare Stocks and Shares ISAs and general investment accounts.
Fees checked on each provider's own pricing page, 3 November 2026Compare all twelveHow we rank
Our top pick
No account fee, no custody fee and free dealing, from £1. You can hold more than 13,000 shares and ETFs, and Trading 212 claims basic-rate tax relief for you.
Worth knowing: it takes personal contributions only, holds no funds and does not offer flexi-access drawdown yet, so it suits building a pension more than drawing one.
Visit Trading 212
Capital at risk.
Compare SIPP providers
The twelve SIPPs we compare, in our ranked order. Choose your pension size and what you hold to see each provider’s yearly platform cost, or sort by the lowest cost.
Fees checked 3 November 2026 on each provider's own pricing page · How we rank
Provider
Yearly costOn £50,000 in shares and ETFs
DealingPer trade, and FX on foreign shares
What you can holdInvestment range
Pension featuresEmployer payments, drawdown, minimum
Open a SIPP
Yearly cost on £50,000 in shares and ETFs£0No account or platform fee
DealingFree dealingFX 0.15% on foreign shares
What you can holdShares and ETFs13,000+ shares and ETFs, fractional shares
Pension featuresPersonal contributions onlyNo flexi-access drawdown yetFrom £1
Visit Trading 212
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£1200.25% a year, capped at £10 a month
DealingShares £5 (£3.50 frequent), funds £1.50FX 0.75% to 0.25%, tiered
What you can holdShares, funds, ETFs, trusts, bonds and giltsRegular investing is free
Pension featuresEmployer payments acceptedNo drawdown or withdrawal fees£500 lump sum or £25 a month
Visit AJ Bell
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£0No platform fee on the DIY SIPP
DealingFree dealingNo FX fee on its ETFs
What you can holdETFs onlyManaged portfolios also available for 0.25%
Pension featuresPersonal contributions onlyDrawdown free, paper forms for nowFrom £100
Visit InvestEngine
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£72Core £5.99 a month to £100k, then Plus £14.99
DealingShares £3.99, funds £3.99 on CoreFX 0.75% on Core
What you can holdShares, funds, ETFs, trusts, bonds and giltsRegular investing is free
Pension featuresEmployer payments acceptedNo drawdown chargesNo minimum stated
Visit Interactive Investor
Capital at risk.
5
DIY SIPP
Yearly cost on £50,000 in shares and ETFs£900.35% a year, capped at £7.50 a month
DealingFunds free, shares £7.50FX 0.75% to 0.25%, tiered
What you can holdFunds, shares, ETFs and trustsOver 3,000 funds
Pension featuresEmployer payments acceptedNo drawdown charges£800 lump sum or £20 a month
Visit Fidelity
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£1500.35% a year, capped at £150
DealingShares £6.95 (£3.95 frequent), funds £1.95FX 0.99% to 0.20%, tiered
What you can holdShares, funds, ETFs, trusts, bonds and giltsRegular investing is free
Pension featuresEmployer payments acceptedNo drawdown or withdrawal feesFrom £100 or £25 a month
Visit Hargreaves Lansdown
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£75£4 a month under £32k, then 0.15% (max £375)
DealingFund and ETF dealing freeNo FX on Vanguard funds
What you can holdVanguard funds and ETFs only85+ funds, including LifeStrategy
Pension featuresBusiness payments accepted once openNo extra drawdown fees£500 lump sum or £100 a month
Visit Vanguard
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£0No annual fee on the self-managed SIPP
DealingFree share and ETF dealingFX 0.7% on foreign shares
What you can holdShares, ETFs and investment trustsOver 20,000 investments
Pension featuresEmployer payments acceptedDrawdown via Options UK£10,000 to open
Visit IG
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£0Free on Basic; paid plans from £59.88 a year cut FX
DealingFree dealingFX 0.99% on Basic, 0.39% on Plus
What you can holdShares, funds, ETFs, trusts and bonds8,900+ investments
Pension featuresPersonal contributions onlyNo drawdown; £240 per lump sum withdrawalNo minimum stated
Visit Freetrade
Capital at risk.
10
App pension, ready-made funds
Yearly cost on £50,000 in shares and ETFs£750.15% on Moneybox funds, capped at £150 (other funds 0.45%)No shares or ETFs: cost shown for funds
DealingNo trading feesFund provider fees on top
What you can holdReady-made and tracker fundsThree Moneybox funds plus other providers' funds
Pension featuresPersonal contributions onlyFlexible withdrawals availableNo minimum stated
Visit Moneybox
Capital at risk.
11
App SIPP, ready-made funds
Yearly cost on £50,000 in shares and ETFs£2250.45% a year, no subscription neededNo shares or ETFs: cost shown for funds
DealingFund costs 0.20% to 0.84% a yearTen funds to choose from
What you can holdPension funds onlyIncluding retirement-date funds
Pension featuresPersonal payments and transfersNo drawdown: transfer out to take moneyNo minimum stated
Visit Plum
Capital at risk.
Yearly cost on £50,000 in shares and ETFs£756IPM admin £580 + VAT, plus 0.12% Saxo custody
DealingShares and ETFs 0.08% a tradeFX 0.25% in the SIPP
What you can holdShares, bonds and certain ETFsTrustee: IPM or @SIPP
Pension featuresCheck with the trusteeDrawdown via trustee (IPM: £150 + VAT per payout event)No minimum stated
Visit Saxo
Capital at risk.
Yearly cost is the provider's own platform or account fee for the pension size and holding you choose. Fund charges, dealing and FX come on top. Where a provider does not offer what you picked, the cost shown is for what it does hold. Trading 212, InvestEngine, Freetrade and Moneybox accept personal contributions only. The order is our editorial ranking, explained in how we rank. Some links are affiliate links, which never change the order.
Managed pensions
Prefer someone else to pick and rebalance your investments? These managed pensions build a portfolio for your risk level. They cost more than running a SIPP yourself, so we list them by yearly fee rather than rank them.
Fees checked 3 November 2026 on each provider's own page · listed from lowest to highest yearly fee on £50,000
Provider
Yearly feeOn £50,000, before fund costs
How it is managed
Getting startedMinimum, employer payments, drawdown
Visit
Yearly fee on £50,000£1250.25% a year
How it is managedReady-made ETF portfolios, rebalanced for youETF costs on top
Getting startedFrom £100Personal contributions onlyDrawdown free, paper forms for now
Visit InvestEngine
Capital at risk.
Yearly fee on £50,000£2250.15% account fee (max £375) plus 0.30% management
How it is managedVanguard portfolio picked for your risk profileFund costs about 0.17% on average
Getting started£500 lump sum or £100 a monthBusiness payments accepted once openNo extra drawdown fees
Visit Vanguard
Capital at risk.
Yearly fee on £50,000£2500.50% to 0.95% by plan, halved above £100k (Tracker plan shown)
How it is managedSix ready-made plans run by large fund managersOne annual fee per plan
Getting startedNo minimumCombines old workplace pensions for freeWithdrawals are free
Visit PensionBee
Capital at risk.
Yearly fee on £50,000£3000.6% to £100k, then 0.3% on the rest
How it is managedOriginal or Ethical plans, picked for your risk levelFund costs 0.14% (Original) or 0.46% (Ethical)
Getting started£5,000 to open, then £50 a monthPayments from personal accounts onlyNo fees to withdraw or transfer
Visit Wealthify
Capital at risk.
Yearly fee on £50,000£3750.75% to £100k, then 0.35%
How it is managedManaged portfolios in five investment stylesFund costs about 0.18% to 0.34%, plus market spread
Getting startedFrom £500No set-up, withdrawal or exit feeDrawdown from 55 (57 from 2028)
Visit J.P. Morgan Personal Investing
Capital at risk.
Fees are the provider's own yearly charge on a £50,000 pension, before fund costs unless stated. PensionBee and J.P. Morgan Personal Investing run managed personal pensions rather than SIPPs.
Our picks by situation
Short on time? Pick the line that sounds like you. Every figure here is in the comparison table above.
Best for An all-round SIPP that takes employer payments
The full investment range, share charges capped at £120 a year and no drawdown fees.
Visit AJ Bell
Capital at risk.
Best for Low-cost ETF investing
No platform fee on the DIY SIPP, or ready-made portfolios for 0.25% a year. ETFs only.
Visit InvestEngine
Capital at risk.
Best for Large pensions
A flat £72 a year up to £100,000, then £180, however large your pension grows.
Visit interactive investor
Capital at risk.
Best for Fund investors
Free fund dealing, over 3,000 funds and no drawdown charges.
Visit Fidelity
Capital at risk.
Best for Simple index investing
Vanguard funds and ETFs for £48 a year below £32,000, and never more than £375.
Visit Vanguard
Capital at risk.
Pension rules for 2026/27
The tax rules are the same whichever SIPP you choose. The Budget on 28 October 2026 kept these allowances unchanged for 2027/28.
- Tax relief on what you pay inYour provider claims 20% basic-rate relief, so £80 from you becomes £100 in your pension. Higher and additional-rate taxpayers claim the rest through their tax return.
- £60,000 annual allowanceYou can pay in up to £60,000 a year, or 100% of your UK earnings if lower, counting employer payments and tax relief. With no earnings the limit is £3,600 gross. It is tapered for adjusted income over £260,000, and falls to £10,000 once you take money out flexibly.
- When you can take money outFrom 55, rising to 57 on 6 April 2028. Up to 25% can usually be taken tax-free, within the £268,275 lump sum allowance. The rest is taxed as income.
- Inheritance tax from April 2027Unused pension funds and death benefits will count towards your estate for inheritance tax from 6 April 2027.
Allowances for 2026/27 and 2027/28 from HM Treasury, Budget 2026 rates and allowances, 28 October 2026.
Moving a pension into a SIPP
Combining old pensions in one SIPP can cut fees and paperwork, but check what you would lose before you move.
- Check what you would give upSome older pensions carry guaranteed annuity rates, protected tax-free cash or exit fees. Final salary (defined benefit) pensions worth over £30,000 need regulated financial advice before they can move, and many SIPPs do not accept them.
- Open the new SIPP firstThen ask the new provider to transfer your old pension. Never withdraw the money and pay it in yourself.
- Choose cash or in specieA cash transfer sells your investments first. An in specie transfer moves them as they are, if the new provider can hold them.
- Ask about exit feesSome providers help. AJ Bell, for example, covers exit fees of up to £500 on transfers of £20,000 or more.
SIPP questions
What is a SIPP?
A SIPP, or self-invested personal pension, is a pension you run yourself. You choose the investments, such as funds, shares and ETFs, and the government adds tax relief to what you pay in.
It works alongside any workplace pension. You can usually take money out from 55, rising to 57 in April 2028.
Which SIPP is cheapest?
It depends on your pension size and what you hold. On £50,000 in shares and ETFs, Trading 212, InvestEngine, IG and Freetrade charge no platform fee.
For funds, interactive investor’s flat fee comes to £72 a year on £100,000, against £350 at Hargreaves Lansdown. Fund charges, dealing and FX come on top, so use the table to compare at your own numbers.
Can my limited company pay into my SIPP?
Yes, if the provider accepts employer payments. AJ Bell, Hargreaves Lansdown, Fidelity, interactive investor and IG do, and Vanguard takes business payments once your account is open.
Trading 212, InvestEngine, Freetrade and Moneybox take personal contributions only. Employer payments count towards your £60,000 annual allowance.
How much can I pay into a SIPP?
Up to £60,000 a year across all your pensions, or 100% of your UK earnings if that is lower, including tax relief and employer payments. If you have no earnings you can still pay in £3,600 gross a year.
The allowance is lower if your adjusted income is over £260,000, or if you have already taken money from a pension flexibly.
When can I take money out of a SIPP?
From age 55, rising to 57 on 6 April 2028. You can usually take 25% tax-free, up to the £268,275 lump sum allowance, and the rest is taxed as income.
Check that your SIPP offers the option you want. Trading 212, Freetrade and Plum do not offer flexi-access drawdown, so you would need to move to another provider to take a regular income.
Is my money safe in a SIPP?
Providers must keep your investments separate from their own money. If a regulated firm fails, the Financial Services Compensation Scheme can cover up to £85,000 per person for investment claims.
That protection does not cover your investments falling in value. Your capital is at risk.
What is the difference between a SIPP and a managed pension?
With a SIPP you pick and manage the investments. A managed pension picks them for you based on your risk level and rebalances them over time, usually for a higher yearly fee.
Some providers, such as InvestEngine and Vanguard, offer both inside the same pension.
Can I have more than one SIPP?
Yes. You can hold several pensions, but the £60,000 annual allowance covers all of them together. Many people combine old pensions into one SIPP to keep fees and paperwork down.
How we rank SIPPs
Written by Dimitar Kanazirski
Founder and Editor-in-chief. BA (Hons) Business Economics, ACMI. Researches and writes on pensions, ISAs and ETFs.
Fact-checked by David Katzarov
Editor. Background in law and personal investing, focusing on regulation and ISA rules.
- What we assessYearly cost at different pension sizes for both funds and shares, dealing and FX, investment range, employer payments, drawdown and how easy the pension is to run.
- Where the figures come fromEach provider’s own charges pages and help centre, checked on 3 November 2026. Where a provider’s pages disagree, we use the most recent and say so.
- How often we checkEvery month, and sooner when a provider changes its charges or adds a feature such as drawdown.
- How the order is decidedBy how well each SIPP fits what most of our readers need, starting with cost for people building a pension. Managed pensions are listed by fee, not ranked. Commercial relationships never change the order or the fees we report.
Risk disclaimer
This page is for general information and education. It is not personal financial advice and does not take account of your circumstances. When you invest, your capital is at risk and you may get back less than you put in. Past performance is not a guide to future returns.
Pension rules apply: you usually cannot take money out until 55, rising to 57 from April 2028. Tax treatment depends on your individual circumstances and may change. Fees are set by each provider and can change at any time, and the provider’s own terms always take precedence over this page. If you are unsure whether a pension or a transfer is right for you, seek advice from an FCA authorised adviser.
Disclosure: some links on this page are affiliate or referral links, which may earn YourWalletManager a commission or a free share when you sign up. This never changes the order of our picks or the fees we report. Meet our editorial team.
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