There is no single best SIPP in the UK, because the cheapest and most suitable one changes with pot size and habits. Here is how to compare SIPPs for yourself.
Searching for the best SIPP provider in the UK turns up lists, but a list cannot know how large your pot is, how often you trade or what you want to hold. This guide ranks no one. It sets out what to compare, shows the sums on four firms' own published account charges, and covers investment range, drawdown, transfers, cash and protection if a firm fails. The first stop for the options at retirement is Pension Wise, free and government-backed guidance from MoneyHelper. Sooner talk it through with someone? Details left on the form on this page are passed along, and an FCA-authorised adviser telephones you at no cost.
Why "best" depends on the pot and the person
MoneyHelper puts the main differences between SIPP providers down to their charges and the range of investments they offer, and advises shopping around. It adds that "Comparison sites covering the whole pensions market don’t exist", so you either compare options yourself or pay a financial adviser to recommend a provider and product. What a SIPP is, and how tax relief and the annual allowance work, is covered in what a SIPP is; this page is only about choosing between providers.
The word "SIPP" covers different products. The FCA, in a June 2026 consultation, describes bespoke SIPPs that "often allow consumers to invest in a range of non-standard assets such as commercial property", and ready-made SIPPs that give "access to a limited set of pre-selected investments or risk-rated model portfolios". A person who wants one fund and an automatic top-up is comparing different things from a person who wants to buy individual shares or commercial property. Decide which kind you want before comparing prices.
Flat fee or percentage: the two charging structures
The FCA describes the market as one where "Pricing strategies vary between flat-fee structures and tiered percentage charges, often supplemented by promotional offers such as cashback or fee caps for larger portfolios." In practice that gives three patterns to look for.
- A percentage of the pot. The charge rises as the pot grows, so it costs most in pounds on a large pot and least on a small one.
- A flat fee. The charge stays the same in pounds, so it weighs most on a small pot and least on a large one.
- A mixture. A flat sum below a threshold, a percentage above it, and sometimes a cap in pounds.
Each firm sets its own bands. The comparison below uses the published account charges of four firms whose full charges are on their own pages here: Interactive Investor, Hargreaves Lansdown, Fidelity and Vanguard. A list that names a best SIPP assumes a pot size, a number of trades and a set of funds; change one and the order can change.
The sums on published account charges
The table applies each firm's account charge to four pot sizes, working only from what the firm publishes. Sources: Interactive Investor's rates and charges PDF (last updated 1 October 2026), Hargreaves Lansdown's SIPP charges page, Fidelity's fees and charges page and Vanguard's self-managed costs and charges document (20 August 2026). The three web pages were read on 19 October 2026.
Assumptions: one SIPP, wholly in funds, no cash, no other accounts at the same firm, no dealing, and no fund charges. Interactive Investor's Core plan is £5.99 a month (£71.88 a year), for portfolios up to £100,000 paying by Direct Debit with email communications; Plus is £14.99 a month (£179.88 a year) with no limit. Hargreaves Lansdown tiers by slice: the first £250,000 is charged at 0.35%, and only the part above it at 0.25%. Fidelity applies its band rate to the whole value: 0.35% from £25,000, and 0.20% on the full amount from £250,000; below £25,000 the fee depends on a regular savings plan. Vanguard charges £4 a month (£48 a year) under £32,000 and 0.15% a year from there, with a £375 maximum.
| Pot in funds | Interactive Investor | Hargreaves Lansdown | Fidelity | Vanguard |
|---|---|---|---|---|
| £20,000 | £71.88 (Core) | £70 | £70 with a regular savings plan; £90 without | £48 |
| £50,000 | £71.88 (Core) | £175 | £175 | £75 |
| £100,000 | £71.88 (Core, at its limit) | £350 | £350 | £150 |
| £250,000 | £179.88 (Plus) | £875 | £500 | £375 |
The working is the rate times the pot: 0.35% × £20,000 = £70, 0.15% × £50,000 = £75, and so on down the columns.
Where a flat fee and a percentage cross over
A flat annual fee divided by a percentage rate gives the pot size at which the two cost the same. On the published figures:
- Interactive Investor's Core fee of £71.88 equals 0.35% of a pot of about £20,537 (£71.88 ÷ 0.35%). Below that pot the percentage costs less; above it, the flat fee does.
- Its Plus fee of £179.88 equals 0.35% of about £51,394, and equals Vanguard's 0.15% of about £119,920.
That is the whole of the arithmetic, and it says little alone. The crossovers move if the flat fee must also cover an ISA, if trades are frequent, or if the pot is partly in shares rather than funds, where Hargreaves Lansdown, for example, charges 0.35% capped at £12.50 a month (£150 a year, which 0.35% reaches at a pot of about £42,857). The same two lines can be run on your own figures.
What the account charge leaves out
An account charge is one layer. These sit outside it.
- Dealing charges. Among these four firms a one-off fund trade ranges from free to a few pounds; each fee page has the full list. MoneyHelper notes that you can change investments as often as you like, "but you’ll usually pay fees each time".
- Fund charges. Hargreaves Lansdown says some investments have charges "set by the fund manager or provider", and Vanguard's document names fund management costs and the account fee as its two main costs. A fund's own charge is paid on top of the platform's. See pension charges and fees for how the layers add up.
- What the fee covers. Interactive Investor says one plan can cover a SIPP, ISA and other accounts held in the same name. Hargreaves Lansdown applies tiers to each account separately, while Fidelity bases its fee on total investment value across accounts. The same pot can therefore be charged differently depending on what else you hold at that firm.
- Cash. Hargreaves Lansdown makes no charge for holding uninvested cash, and Vanguard's fee excludes cash. How the interest on that cash is treated is a separate question, covered below.
Investment range
MoneyHelper says what you can hold depends on the provider, and describes the usual split: "low cost SIPPs" tend to offer fewer investment options, while "full SIPPs" offer more complicated options with higher charges. A reader who wants a handful of index funds and one who wants individual shares, investment trusts or commercial property are shopping in different parts of the market.
Questions that follow from that:
- Is every investment you expect to hold available, including any you may want later?
- Is there a ready-made or managed option, and what does it add to the platform charge? See Vanguard's managed and self-managed options and Interactive Investor's ready-made SIPP for two examples.
- Does the provider accept the kind of asset you want, such as commercial property, and what extra charges does that bring?
The range at three of the firms above is in Fidelity SIPP investment options, Interactive Investor SIPP investments and Vanguard SIPP fund options. Past performance is no guide here: the FCA's rule for firms that quote it (COBS 4.6.2 R) requires a prominent warning that the figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments in a SIPP can fall as well as rise, and you may get back less than was paid in.
Drawdown, transfers and leaving
The cost of getting money out, or moving it, is easy to overlook when comparing prices to join. Four things to look for in the provider's charges document:
- Taking an income. Whether there is a set-up, withdrawal or annual drawdown fee, and whether the account charge and fund charges continue on the money left invested. Drawdown itself is explained in how pension drawdown works, and the provider side in choosing a drawdown provider.
- Moving in. GOV.UK says that if you transfer a pension you may "have to pay a fee to make the transfer" or lose rights or protections, and "Your pension providers can tell you whether any of these will apply." So the old provider's exit charges count, as well as the new one's entry terms.
- Moving out. Whether there is a charge to transfer or close, and whether investments can move as they are or must be sold first.
- Guarantees in the old plan. MoneyHelper cautions that "you might lose valuable benefits by leaving your current provider".
Each of the four fee pages linked above has its own section on drawdown and transfer terms, and pension transfer fees and how to transfer a pension cover the general rules. Whether a move is worth making at all is a question for moving a pension into a SIPP. Old-plan benefits set against a new provider's fee is a comparison an FCA-authorised adviser can walk you through; describe each pot using the form on this page, a free step.
Cash interest and sign-up offers
Many SIPPs hold some cash. The FCA found in 2023 that most of the firms it sampled kept at least some of the interest they earned on customers' cash. Rates change often, so none is printed here; SIPP interest rates on cash explains what firms may keep, the FCA's rule and what to check.
Offers are the other moving part. The FCA's description of the market, quoted above, mentions "promotional offers such as cashback". Read the terms, the end date and any minimum transfer value, and ask whether the offer changes the ongoing charges rather than only the first year. As one example, Interactive Investor SIPP offers covers that firm's cashback terms.
Protection if a provider fails, and the FCA's warnings
Compensation works differently for SIPPs. The FSCS says they are typically treated as "uninsured" pension schemes and, where it can pay, it will normally cover a SIPP at 100% with an upper cap of £85,000. Whether a given plan counts as insured or uninsured is for the provider to confirm, so ask before joining. The cover is for a firm failing, not for investments falling in value; the separate limits for operators and for investments held in a SIPP are in the SIPP guide.
The FCA consulted in June 2026 on tighter rules for SIPP firms, having seen a subset with weak due diligence, weak controls over trustee bank accounts and poor records that led to consumer losses, and warning that losses above the FSCS limit may go uncompensated. The consultation closed on 24 August 2026; its rules remain proposals until final rules are published. Its standing warnings still apply:
- Check the firm is authorised and has permission for what it offers, using the Firm Checker linked from the pension scams page.
- Unusual investments, which tend to be unregulated and high risk, and several groups all taking fees are both scam warning signs.
- An unprompted call about your pension is illegal and probably a scam, and hanging up is the safest response. More is in how pension scams work.
A checklist to take to any SIPP provider
- What is the account charge at my pot size today, and at twice that size? Is it a percentage, a flat sum, or both, and is there a cap?
- Does the charge cover only this SIPP, or other accounts too?
- What will I pay to buy, sell and switch the investments I actually plan to hold, and what are those investments' own charges?
- Is every investment I want available, now and later?
- What does taking an income cost, and what continues on money left invested?
- What would a transfer in cost from the old provider, and what would it cost to leave?
- How is interest on cash set, and does the firm keep part of it?
- Is the firm FCA-authorised, and how is the SIPP covered if the firm fails?
- Does any offer have an end date or conditions?
- When were the charges last updated? Firms can change them.
Two further starting points: personal pension or SIPP if a SIPP might be more than is needed, and choosing a pension provider. Whether a SIPP is worth having is covered in are SIPPs worth it.
Choosing a SIPP: questions people ask
Which is the best SIPP provider in the UK?
No page can say, because the answer depends on the size of the pot, how often you trade, what you hold and what you value, such as range or an app. What can be said is how to compare: the charging structure, extra costs, range, exit terms, cash interest and protection above.
Can I use a comparison site to compare SIPPs?
MoneyHelper says comparison sites covering the whole pensions market do not exist. Its two routes are to search and compare options yourself or to pay a financial adviser to recommend a provider and product. Whichever you use, check the date on the charges.
What matters if my pot is over £100,000?
Percentage charges and flat fees come out differently at that size, as the table above shows, and tiers and caps start to matter. Interactive Investor, for one, says that if a portfolio exceeds £100,000 it moves you to its Plus plan. Run the sums on your own pot and the funds you would hold.
Is there a best SIPP for over-50s?
The charges and range depend on the provider rather than your age. Age affects the rules instead: Pension Wise appointments are open to people aged 50 or over with a UK-based defined contribution pension, and when you can take a pension has the access ages.
Do any SIPP providers offer cashback or sign-up offers?
The FCA describes the market as often supplemented by promotional offers such as cashback. Offers change and end, so read the terms on the provider's own page.
Your next step
Pension Wise is a free place to begin on what to do with a pension, and the checklist above works for any provider. Want charges, range and protection checked against your own pots, tax and plans? Outline each pot via the form on this page, pay nothing, and expect an FCA-authorised adviser to telephone you.
Sources, read 19 October 2026 unless dated: MoneyHelper, SIPPs explained and Pension Wise (archived copies); FCA, CP26/20 (June 2026), pension scams page, Dear CEO letter on retained interest (12 December 2023) and COBS 4.6; FSCS, pension protection; GOV.UK, Transferring your pension; Interactive Investor rates and charges (1 October 2026); Hargreaves Lansdown, SIPP charges; Fidelity, fees and charges; Vanguard, self-managed costs and charges (20 August 2026). Providers can change their charges at any time.