SIPP charges compared: what your pension platform costs at £50k, £100k and £250k
A SIPP's yearly platform fee can be £180 or £875 on the same £250,000 pension, depending on how the provider charges. Here is how SIPP charges work, what four platforms publish at three pot sizes, and the charges that only appear when you start taking money out.
What a SIPP costs: the four charges
A SIPP (self-invested personal pension) has up to four layers of cost. The first is the platform or account fee, charged as a percentage of your pot or as a flat monthly fee. Second, dealing charges each time you buy or sell. Third, the ongoing charges of the funds you hold, which come out of the fund's value. Fourth, pension-specific charges for drawdown, lump sums, transfers out or buying an annuity.
The platform fee is usually the biggest cost you control. Fund charges depend on what you pick: at Vanguard, for example, self-managed fund costs range from 0.06% to 0.79% a year.
Percentage vs flat fees: where the crossover sits
The figures below are each platform's published SIPP fees for holding funds, checked on 9 October 2026. They are not recommendations.
| Platform | Published SIPP fee (funds) | £50,000 | £100,000 | £250,000 |
|---|---|---|---|---|
| AJ Bell | 0.25% on the first £250,000, 0.10% from £250,000 to £500,000 | £125 | £250 | £625 |
| Hargreaves Lansdown | 0.35% up to £250,000 | £175 | £350 | £875 |
| Vanguard | 0.15% from £32,000, capped at £375 (£4 a month minimum below £32,000) | £75 | £150 | £375 |
| interactive investor | £5.99 a month on Core up to £100,000, then £14.99 a month on Plus | £71.88 | £71.88 | £179.88 |
Against the flat £71.88, a 0.25% fee costs more once your pot passes about £28,750. A 0.35% fee crosses at about £20,550, and a 0.15% fee at about £47,900. Below those points the percentage fee is cheaper. Above them, the flat fee is.
Dealing changes the picture if you trade often. Fund deals cost £1.50 at AJ Bell, £1.95 at HL and £3.99 at interactive investor. Vanguard charges nothing to deal in its own funds. Regular monthly investing is free at AJ Bell and HL. Shares and ETFs are often charged differently from funds: AJ Bell caps the SIPP fee on shares at £10 a month (£120 a year), HL at £150 a year and Fidelity at £90 a year.
Charges that only show up later
The fee you pay while saving is not the whole story. Check what happens when you start taking money out. AJ Bell charges nothing for flexi-access drawdown or lump sums, but charges £100 a year (plus VAT) for regular income in capped drawdown and £150 to buy an annuity. Fidelity lists no admin charge for capped or flexible drawdown and no charge to transfer out.
Some low-cost SIPPs do not offer drawdown at all. Freetrade says you currently need to transfer to another provider to take income drawdown or buy an annuity, and each lump-sum withdrawal (UFPLS) costs £240. AJ Bell, Fidelity and Freetrade all list no charge to transfer out to another pension.
How to compare SIPP charges for your pot
Start with your pot size today and in ten years. A fee that is cheapest at £30,000 may not be at £150,000. Add up the platform fee, a year's typical dealing and your funds' ongoing charges, then check the drawdown and transfer-out charges for when you come to use the money.
On a £100,000 pension, the published platform fees above range from £71.88 to £350 a year. That gap of about £278 a year compounds inside the pension for as long as you hold it.
SIPP charges by platform
Published SIPP charges for each platform, from our broker data. Platform fees are for holding funds unless stated.
| Platform | Platform or account fee | SIPP-specific charges |
|---|---|---|
| Freetrade | £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing) | Included on all plans |
| AJ Bell | 0.25% on funds up to £250k (tiered lower above); shares capped at £3.50/month in an ISA and £10/month in a SIPP | Platform fee applies, capped at £120/year for shares; no charge for flexi-access drawdown or transfer out; capped drawdown income £100 a year plus VAT |
| Vanguard | £4/month minimum below £32k; 0.15% above £32k, capped at £375/year | Platform fee applies |
| Fidelity | 0.35% from £25k to £250k; 0.20% from £250k to £1m; nothing above £1m; £90 a year flat under £25k without a regular savings plan | Platform fee applies |
| IG | £0 (custody fee removed January 2026) | Commission-free; administered by Options Pensions, £205 a year |
| Interactive Investor | Core £5.99/month (up to £100k); Plus £14.99/month (no limit); Premium £39.99/month | Included in the monthly plan |
| Hargreaves Lansdown | Funds: 0.35% up to £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, nothing above £2m. Shares, ETFs and investment trusts: 0.35%, capped at £150 a year in the ISA, SIPP and Fund & Share account | Platform fee applies |
| Prosper | £0 | Free |
| Moneybox | £1/month subscription (waived at £5,000+) plus 0.15% to 0.45% platform fee | 0.45% on the first £100k then 0.15% (other funds); 0.15% capped at £150 a year (Moneybox funds); no subscription |
| Scottish Widows | £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month | 0.25% per year, capped at £198 |
| J.P. Morgan Personal Investing | Managed styles: 0.75% a year on the first £100k, 0.35% above. Fixed Allocation: 0.45%, then 0.25%. Inc. VAT; fund costs extra | Yes: personal pension (SIPP), from £500 |
Charges as published by each provider and last verified in July 2026. Worked examples above re-checked on 9 October 2026. Fund ongoing charges and dealing costs are extra unless stated. This is not a recommendation of any provider.
SIPP charges FAQ
How much does a SIPP cost a year?
It depends on the platform and your pot size. On £100,000 in funds, published platform fees checked on 9 October 2026 range from £71.88 a year (interactive investor Core, flat) to £350 (Hargreaves Lansdown, 0.35%). Fund charges and dealing costs are extra.
Is a flat-fee or percentage-fee SIPP cheaper?
A flat fee is usually cheaper on larger pots and a percentage fee on smaller ones. Against a flat £71.88 a year, a 0.25% fee costs more above about £28,750 and a 0.35% fee above about £20,550.
Are there charges for taking money out of a SIPP?
Sometimes. Check the drawdown, lump-sum and annuity charges. AJ Bell charges £100 a year plus VAT for regular capped drawdown income but nothing for flexi-access drawdown. Freetrade charges £240 per lump-sum withdrawal and does not offer drawdown.
Does it cost anything to transfer a SIPP out?
Many platforms charge nothing for a cash transfer out. AJ Bell, Fidelity and Freetrade all list no transfer-out charge. Moving holdings in specie can carry a per-holding fee, so check before you move.
Do fund charges come on top of SIPP fees?
Yes. The fund's ongoing charge is taken from its value on top of the platform fee. At Vanguard, self-managed fund costs range from 0.06% to 0.79% a year.
When can I take money from a SIPP?
Usually from 55, rising to 57 from 6 April 2028. Up to 25% can normally be taken tax free, and the rest is taxed as income.
Related: compare UK pension providers · compare investment platform fees · what a SIPP is and how it works · ISA or SIPP: which wrapper first
Educational use only. Not financial, investment, tax or legal advice.