Choosing the best pension plan

published 26 June 2017

No pension will be right for every investor the best choice will depend on your circumstances and needs. In the tables below, we've listed examples of competitive products in four categories low-cost pensions for funds, flat-fee Sipps, percentage-based Sipps and full Sipps that allow you to access a range of brokers and investments. These are not selected solely on cost, but are chosen to give a reasonable overview of the range of products that are available and the typical fees for these.

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Three of the best low-cost pensions for funds
Row 1 - Cell 0	Fixed administration charge	Other charges	Fund charges	Share charges
Bestinvest	None	None	0.3% per year up to £250,000. 0.2% per year £250,000 - £1m, no charge over £1m	£7.50 per trade
Cavendish Online & Fidelity	None	None	0.25% per year, reducing to 0.2% on whole balance over £250,000	Not available
Close Brothers	0.25% per annum	Drawdown fee of £90 per year	No further charges	£8.95
Three of the best flat-fee Sipps
Row 6 - Cell 0	Fixed administration charge	Other charges	Fund charges	Share charges
Alliance Trust	£17.50+VAT per month while saving; £23.75+VAT per month once you start taking income	£342 drawdown	£9.99 per trade	£9.99 per trade
Selftrade	£99+VAT	£180 drawdown	0.35% per year up to £50,000; 0.25% per year £50,000-£250,000; 0.15% over £250,000 (max £250 per quarter)	£11.75 per trade
Share Centre	£12+VAT per month	£234 drawdown	1% per trade (min £7.50) or pay £20+VAT per quarter dealing option fee and £7.50 per trade	1% per trade (min £7.50) or pay £20+VAT per quarter dealing option fee and £7.50 per trade
Three of the best percentage-based Sipps
Row 11 - Cell 0	Fixed administration charge	Other charges	Fund charges	Share charges
AJ Bell Youinvest	None	£25 charge for one-off payment; £100 per year for regular drawdown payments or regular uncrystallised funds pension lump sum payment	£1.50 per trade. 0.25% per year up to £250,000; 0.1% £250,000-£1m; 0.05% £1m-£2m; no further charge above £2m	£9.95 per trade. 0.25% per year (max £25 per quarter)
Charles Stanley Direct	£120+VAT, waived if you have assets of over £30,000	£150+VAT for each crystallisation; £10+VAT for altering regular amount payment/frequency; £25+VAT for irregular income payment	0.25% per year up to £250,000; 0.2% £250,000-£500,000; 0.15% £500,000-£1m; 0.05% £1m-£2m; no further charge above £2m	£11.50 per trade. 0.25% per year (min £25, max. £240), waived if one trade per month
Hargreaves Lansdown	None	No drawdown fee	0.45% per year up to £250,000; 0.25% £250,000-£1m; 0.1% £1m-£2m; no further charge above £2m	£11.95 per trade. 0.45% per year (max. £200)
Three of the best full Sipps
Row 16 - Cell 0	Fixed administration charge	Other charges	Fund charges	Share charges
@Sipp	£250 set up fee advised; £500 non-advised; £595 annually	£160 for each crystallisation; £120 per year for regular income payment, £50 for alteration to income	£530 set-up fee for value less than £350,000; £780 for over £350,000; £495 per year for value less than £350,000; £575 per year for over £350,000	£400 each; £500 per year
Carey Pension Trustees	£500 administration fee	Establishment of flex-access drawdown and payment of lump sum £250. Drawdown fees: monthly £200; quarterly £150; bi-annually or annually £125; ad-hoc £100; uncrystallised fund pension lump sum £250	UK commercial property £750, mortgage arrangement £250; property development 0.5%	Unregulated investment transactions £500; unquoted share transactions £500; loans £300-£500
Corporate & Professional	£350+VAT administration fee	£60+VAT annually from when drawdown commenced; under flexi-access drawdown a fee of £60+VAT will be charged for each ad-hoc transaction	£350+VAT for each purchase or sale; £100+VAT annually for property administration; £100+VAT for property registration; £100+VAT for loan set up	Row 19 - Cell 4