Best SIPP Platforms 2026/27: Fees and Drawdown Compared
Fees checked on each provider’s website on 9 November 2026. Platforms change their prices often, so check the provider’s own charges page before you open or transfer a pension.
A self-invested personal pension (SIPP) lets you choose your own investments while keeping pension tax relief. Because a pension is held for decades, small differences in fees add up to thousands of pounds. The best SIPP for you depends on how big your pot is, whether you hold funds or ETFs, and whether you will want to take an income from it.
SIPP rules in brief
- Tax relief: contributions get relief at your income tax rate. A £100 contribution costs a basic-rate taxpayer £80, and higher-rate taxpayers can claim more back through self-assessment. See GOV.UK on pension tax relief.
- Access: you can usually take money from age 55, rising to 57 from April 2028.
- Tax-free cash: 25% of what you take is usually tax-free, up to £268,275 across all your pensions. The rest is taxed as income.
SIPP fees compared
| Platform | Account fee: funds | Account fee: shares and ETFs | Share or ETF trade | Drawdown |
|---|---|---|---|---|
| InvestEngine | Not offered (ETFs) | None | Free | Supported |
| Trading 212 | Not offered | None (0.15% FX fee) | Free | No flexi-access drawdown |
| Freetrade (Basic) | None | None | Free | Transfer out to draw down; £240 per lump-sum withdrawal |
| Fidelity | 0.35% (0.20% from £250k) | 0.35%, max £90 a year | £7.50 | No admin fee |
| interactive investor (Core) | £5.99 + £2.50 pension fee a month (up to £100k) | £3.99 | No charge for income | |
| AJ Bell | 0.25% (0.10% over £250k) | 0.25%, max £120 a year | £5 (£3.50 frequent) | No withdrawal fee |
| Vanguard | £48 a year under £32k, then 0.15% (max £375) | Free (Vanguard ETFs) | Supported | |
| Hargreaves Lansdown | 0.35% (0.25% over £250k) | 0.35%, max £150 a year | £6.95 (£3.95 frequent) | Free to set up |
What you would pay each year
These are the annual account fees on a buy-and-hold SIPP, before dealing charges and the funds’ own costs.
If you hold ETFs or shares
| Platform | £50,000 | £100,000 | £250,000 |
|---|---|---|---|
| InvestEngine | £0 | £0 | £0 |
| Trading 212 | £0 | £0 | £0 |
| Freetrade (Basic) | £0 | £0 | £0 |
| Fidelity | £90 | £90 | £90 |
| interactive investor | £101.88 | £101.88 | £251.88* |
| AJ Bell | £120 | £120 | £120 |
| Hargreaves Lansdown | £150 | £150 | £150 |
| Vanguard | £75 | £150 | £375 |
If you hold funds
| Platform | £50,000 | £100,000 | £250,000 |
|---|---|---|---|
| Freetrade (Basic) | £0 | £0 | £0 |
| Vanguard (Vanguard funds only) | £75 | £150 | £375 |
| interactive investor | £101.88 | £101.88 | £251.88 |
| AJ Bell | £125 | £250 | £625 |
| Fidelity | £175 | £350 | £500 |
| Hargreaves Lansdown | £175 | £350 | £875 |
Which SIPP suits you
- Building a pot with ETFs: InvestEngine and Trading 212 charge no account or dealing fees. InvestEngine supports drawdown when you retire. Trading 212 does not offer flexi-access drawdown, so you would need to transfer out to take a regular income.
- Building a pot with funds: Freetrade’s Basic plan includes a free SIPP with funds. It does not offer drawdown, and each lump-sum withdrawal costs £240, so it suits saving rather than retirement income.
- Large pot in funds: a flat fee wins. On £250,000 in funds, interactive investor costs £251.88 a year, against £625 at AJ Bell and £875 at HL.
- Taking an income: HL, AJ Bell, Fidelity and interactive investor all offer drawdown without a separate drawdown fee. Fidelity’s £90 cap makes it cheap for an ETF or investment trust portfolio in drawdown.
- Keeping it simple: Vanguard’s SIPP is capped at £375 a year, but you can only hold Vanguard funds and ETFs.
Before you transfer a pension
- Check what you would give up. Final salary (defined benefit) pensions, guaranteed annuity rates and protected tax-free cash are usually lost on transfer. Transferring a defined benefit pension worth more than £30,000 requires regulated financial advice.
- Check exit fees. Your current provider may charge to leave. Some platforms, including AJ Bell, cover some exit fees for larger transfers.
- Keep your workplace pension going. If your employer contributes, a SIPP should usually sit alongside it, not replace it.
- Protection. Check the platform is authorised by the FCA. The Financial Services Compensation Scheme protects up to £85,000 per person per firm if a platform fails, but not against investment losses.
Free guidance on your pension options is available from the government’s MoneyHelper service, and Pension Wise appointments are free if you are 50 or over.
Sources
- Hargreaves Lansdown: SIPP charges and drawdown charges
- AJ Bell: SIPP charges
- interactive investor: fees and charges and SIPP drawdown
- Vanguard: SIPP key features
- Fidelity: investment fees and charges
- InvestEngine: costs and drawdown
- Trading 212: fees and flexi-access drawdown
- Freetrade: SIPP charges