How to pick a SIPP
Self-invested personal pensions (SIPPs) let you manage your retirement savings, but charges and customer service vary greatly between providers. We explain how to choose a SIPP in 2026
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A self-invested personal pension (SIPP) is your own private retirement pot. Typically independent of your workplace pension, it can be easier to keep track of and is often called a ‘pot for life’. But that doesn’t mean you should be stuck with the same provider forever. Whether you’re looking for your first SIPP or a new home for your current retirement savings, it’s a good idea to compare providers to get the best deal in 2026.
Opening a SIPP can pay dividends in later life, providing a welcome private pension boost on top of your state pension entitlement, as well as any workplace pension and life savings.
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Jo Groves, investment specialist at research firm Kepler Partners, said: “The number of SIPPs has surged sixfold over the last decade, recently passing the milestone of six million holders, as people take control of their retirement and tax planning.
“Choosing the best SIPP provider can make a significant difference to individual retirement savings, particularly in terms of maximising the value of your portfolio and minimising fees. Over the long term, even small differences in fees can reduce the value of a portfolio by hundreds of thousands of pounds.”
Customer service can also vary a lot, meaning many pension savers will be looking for value for money: good customer service plus competitive fees., which we’ll also highlight later in this article.
Comparing SIPPs: the top SIPPs for low fees
Broadly speaking, SIPP charges during the accumulation phase (when you're building up the pension fund) fall into three categories. You need to consider the administration charge that the provider charges for the plan itself; dealing fees incurred when you buy and sell various investments; and the charges on the underlying funds in your SIPP.
Research from Kepler Trust Intelligence puts Freetrade at the top of the cheapest SIPP provider list in terms of all fees for portfolios worth between £20,000 and £250,000.
Freetrade also has a 4.3-star rating on Trustpilot and offers customer support via email and in-app chat, alongside a solid selection of educational guides and market insights. “Overall, Freetrade is an excellent choice for cost-conscious SIPP investors, particularly investors wanting shares above a wide range of funds,” said Groves.
The next cheapest for smaller portfolios, up to £20,000, is AJ Bell. The cheapest for larger portfolios, up to £250,000, is Interactive Investor.
The below table summarises Kepler’s indicative fee calculations by provider.
Portfolio value | £20,000 | £100,000 | £250,000 |
|---|---|---|---|
Freetrade | No fee | No fee | No fee |
interactive investor | £168 | £168 | £189 |
AJ Bell | £128 | £323 | £511 |
IG | £210 | £210 | £210 |
Fidelity | £180 | £355 | £430 |
Hargreaves Lansdown | £177 | £432 | £694 |
Source: Kepler Trust Intelligence
Comparing SIPP: the top SIPPs for customer service
Despite being edged into second place on price (for smaller portfolios), AJ Bell is ranked highest among SIPP providers for customer service. AJ Bell holds the highest Trustpilot rating of 4.9 of any of the SIPP platforms tested, and provides customer support via phone and live chat, alongside extensive research, webinars and podcasts, Groves pointed out.
In terms of fees, AJ Bell has one of the lowest platform fees amongst the mainstream providers both by percentage and tier value, being 0.25% on the first £250,000, 0.1% on the next £250,000 and no fee over £500,000, as well as a competitive trading fee.
“Overall, AJ Bell may appeal to customers looking for a high level of customer service, as well as competitive fees and a broad investment range,” Groves said.
Comparing SIPP: the best overall SIPP
Overall, Interactive Investor took top honours in the Kepler rankings due to its competitive fee structure, broad choice of investments and strong customer support. “The SIPP platform offers customer support via phone and messaging and provides an excellent range of educational content and market analysis. It has a mid-table 4.5-star rating on Trustpilot,” Groves said.
Interactive Investor is one of the few platforms with a flat (rather than percentage-based) platform fee, as well as one of the lowest trading fees amongst the mainstream providers which may appeal to more frequent traders.
“Overall, Interactive Investor is an excellent all-rounder with a wide range of investment options and is a particularly cost-effective option for investors with high-value portfolios,” Groves added.
Provider | Ranking |
|---|---|
Interactive Investor | Best all rounder |
Freetrade | Best low-cost provider |
AJ Bell | Best for customer service |
Hargreaves Lansdown | Highly commended |
Fidelity | Highly commended |
IG | Highly commended |
Source: Kepler Trust Intelligence
How much can I contribute to a SIPP?
Like any pension, SIPPs carry financial benefits in the form of tax relief on your contributions.
These take the form of a 25% government top-up on any contributions you make, provided that these don’t exceed £60,000 (including employer contributions) or 100% of your earnings each tax year.
Note that if you earn more than £260,000, including bonuses and employer pension contributions, your pension allowance will taper down by £1 for every £2 of adjusted income.
This means the highest earners are left with an annual pension allowance of just £10,000.
Craig Rickman, pension expert at Interactive Investor, points out that if you pay higher rates of tax, you might be able to claim an extra 20% or 25% of the total contribution (your payments plus the government top-up) via self-assessment – “helping to trim your annual tax bill and put more money towards your future”.
Here’s a breakdown of the tax benefits available:
| Header Cell - Column 0 | Basic-rate taxpayer | Higher-rate taxpayer | Additional-rate taxpayer |
|---|---|---|---|
How much each person pays into their SIPP | £8,000 | £8,000 | £8,000 |
How much the government adds | £2,000 | £2,000 | £2,000 |
How much can be claimed back via a tax return | £0 | £2,000 | £2,500 |
Total SIPP tax relief | £2,000 (20%) | £4,000 (40%) | £4,500 (45%) |
Total amount each person pays out for their £10,000 SIPP contribution | £8,000 | £6,000 | £5,500 |
Source: Bestinvest
For more on SIPPs, read our guide on How to build your own ‘pot for life’ pension with a SIPP and Saving for retirement: ISAs vs. SIPPs.
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