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

Little dog looking at laptop while her owner sits in living room at home
(Image credit: Getty Images)

Picking a self-invested personal pension (SIPP) can be challenging. With dozens of products out there, it can be hard to know where to start, or even what to factor in when deciding which SIPP is best for you.

Picking the accounts with the lowest fees is a good place to begin, but providers often charge different fees for different services and the most cost-effective provider can depend on the size of your pension pot.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Swipe to scroll horizontally

Portfolio value

£20,000

£100,000

£250,000

Interactive Investor

£120

£204

£204

AJ Bell

£89

£284

£472

Charles Stanley Direct

£180

£300

£600

Fidelity

£135

£310

£385

Hargreaves Lansdown

£162

£497

£834

Bestinvest

£150

£430

£1,030

Swipe to scroll horizontally

Provider

Score out of 5

Interactive Investor

5

AJ Bell

5

Fidelity

4.5

Charles Stanley Direct

4.0

Hargreaves Lansdown

4.0

Bestinvest

4.0

Swipe to scroll horizontally
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

Dan McEvoy
Senior Writer

Dan is a financial journalist who, prior to joining MoneyWeek, spent five years writing for OPTO, an investment magazine focused on growth and technology stocks, ETFs and thematic investing.

Before becoming a writer, Dan spent six years working in talent acquisition in the tech sector, including for credit scoring start-up ClearScore where he first developed an interest in personal finance.

Dan studied Social Anthropology and Management at Sidney Sussex College and the Judge Business School, Cambridge University. Outside finance, he also enjoys travel writing, and has edited two published travel books.

With contributions from