SIPPs
Planning ahead? Become a Bestinvestor with a Self-invested Personal Pension (SIPP) and create a brighter financial future for you or a child.
With pension investment, both the money you invest and the income from it can fall in value.
Before transferring, see Transfer considerations.
SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you.
What is a SIPP?
Self-invested Personal Pensions are a type of pension that give you:
More control
You get more control over your pension investments. It’s easy to buy, sell and switch them.A wider choice of investments
You get access to a wider variety of investments than traditional pensions, including thousands of funds and UK shares.Better visibility
It’s quick and effortless to check the value of your pension and see how each of your investments is performing.Freedom to take an income
When you reach retirement you can take an income in the way that suits you best.
Benefits of the Best SIPP
Great value for money
Tiered service fees mean you pay lower fees for larger pensions, with no set-up charges when you open your account.
Invest how you like
Let our experts manage your investments, invest with help from a coach or take care of everything yourself.
We make it easy
Open a pension by investing or transferring, use all our free investment insights and call our UK-based experts if you need help. See our transfer considerations
Got a SSAS? Maximise your investments
It’s easy with our SSAS Pension Investment Account. Only 0.4% service fees. £4.95 per online UK trade. Ask about our cash interest rates.
Who can have a SIPP?
Almost any UK resident under the age of 75 can save into a SIPP. You can open a SIPP for yourself or somebody else, such as a partner or a child. But before opening an account you should make sure you will use the extra control and choice that SIPPs give you. SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choice that SIPPs give you, then a SIPP might not be right for you.
Pensions for children
You can contribute up to £2,880 a year into a SIPP on behalf of a child and this should build up a surprisingly large fund for when they retire. Because of the length of time the money will be invested, even small amounts can grow quite substantially, but remember, the value can fall as well as rise and you may get back less than invested.
Transferring a pension
If you already have a number of different pensions, you can bring them together into a Best SIPP and gain more control of your retirement investments. We’ll even pay up to £500 towards any exit fees that your existing providers charge. See the terms and conditions. Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (In which case it is very unlikely to be advisable to transfer). Have I considered the charges on my current plan? (A new arrangement may be more expensive – especially if you have a stakeholder pension).
Transfer considerations. Transfers should only be considered for pensions which do not offer any guaranteed or safeguarded benefits - not final salary or defined benefit schemes or pensions that offer particular annuity rates and other promises. You should ensure that by transferring you are not incurring unnecessary penalties, losing any benefits or features, and have considered any increase in pension charges.
Our charges – Ready-made Portfolios and US shares
We give you great value for money with clear charges that decrease as your pension grows:
Up to £250,000
0.2%*
£250,000 - £500,000
0.2%
£500,000 - £1,000,000
0.1%
Over £1,000,000
No charge
Our charges – Other investments
You can also hold 3,000+ funds, shares and ETFs.
Up to £250,000
0.4%*
£250,000 - £500,000
0.2%
£500,000 - £1,000,000
0.1%
Over £1,000,000
No charge
There are no set-up fees, no fund dealing charges and we pay up to £500 towards your exit fees (see our terms and conditions) when you transfer your pensions*.
Frequently asked questions
How much can you pay into a pension?
You can usually contribute as much as you earn each tax year, up to £60,000 – this is called your annual allowance. The allowance is reduced to a minimum of £10,000 for higher earners. If you earn enough, you are able to carry over unused annual allowance from the last three tax years through pension carry forward.
Need help with pensions?
Book a free financial planning session with one of our coaches. They can help you take stock of any pensions you might already have to make sure your retirement is on track.
Pension investment ideas
Download a free copy of The Best™ Funds Guide
Search and filter thousands of investments available through our Investment search tool
Let the experts manage your investments, choose one of our Ready-made Portfolios
Pension guides
See all pension guidesSIPPs are not suitable for everyone. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you. Please contact us for guidance or advice if you are unsure.
*minimum £120 per year.
Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (in which case it is very unlikely to be advisable to transfer) Have I considered the charges on my current plan? (a new arrangement may be more expensive – especially if you have a stakeholder pension).