Fidelity SIPP fees: 0.35% a year (0.20% from £250,000, capped at £2,000), or £7.50 a month under £25,000 without a savings plan, plus dealing and fund costs.
Those figures come from Fidelity's own fees and charges page and its "Doing business with Fidelity" document (August 2026). The web pages carry no date of their own and were read on 19 October 2026, so check the live versions before relying on a number. Everything below is Fidelity's wording and Fidelity's figures; where we multiply or subtract, the working is shown. For free guidance on taking money out, Pension Wise offers government-backed appointments at no cost. If you would rather have a person weigh these charges against your own pot, the form on this page (free to complete) earns you a ring back from an FCA-authorised adviser firm.
The service fee, band by band
Fidelity calculates fees "based on your total investment value, not per account", so money in your other Fidelity accounts counts towards the band your SIPP falls in. Cash counts towards the band but, in the August 2026 document's words, "is not included in the service fee calculation".
| Total value with Fidelity | Annual service fee |
|---|---|
| Under £25,000 | 0.35% with a regular savings plan; £7.50 a month (£90 a year) without one |
| £25,000 to under £250,000 | 0.35% |
| £250,000 to under £1 million | 0.20% |
| £1 million or more | 0.20% on the first £1 million; no fee above that |
The rate is not applied slice by slice: on £300,000 "the fee would be 0.20% across the full amount". By our arithmetic that is £600 a year (0.20% × £300,000), if all of it sits in funds and none in cash, since cash is not charged and exchange-traded holdings have their own cap (below). The document's worked examples show the edge of a band:
- £249,999 pays £875.00 (0.35%).
- £250,000 pays £500.00 (0.20%).
That is £375 a year less (£875.00 − £500.00) for a pot one pound larger. The document adds that if investments fall below £250,000 you "move to the higher 0.35% service fee after six months".
Below £25,000 the regular savings plan decides which fee applies. The fees page gives two examples: £5,000 pays £17.50 (0.35%) with a plan and £90 without; £24,999 pays £87.49 with one and £90 without.
Two caps, and what they do not cover
The first cap is overall. The fees page says "the maximum fee you will ever pay for all of your personal accounts is £2,000 a year", which is 0.20% of £1,000,000. The document gives a joint account its own separate £2,000 cap.
The second concerns shares, ETFs and investment trusts: "this portion of the fee is capped at £90 (£7.50 a month)", a monthly "charging limit" on exchange-traded holdings in ISAs and SIPPs. The £100,000 example is £350.00 (0.35%), against a £90 limit on the exchange-traded part, so what a SIPP holds changes the bill.
Neither cap is a limit on total cost. Dealing charges, taxes and the charges set by fund managers all sit outside the service fee.
Charges outside the service fee
Fidelity does not charge dealing fees on fund deals. Exchange-traded instruments (shares, ETFs and investment trusts) carry a dealing fee on each buy and sell:
| Type of deal | Charge |
|---|---|
| Placed online | £7.50 |
| Regular savings, withdrawal plan or reinvested dividend | £1.50 |
| Placed by phone | £30.00 |
On our arithmetic, twelve online deals in a year would be 12 × £7.50 = £90; twelve regular-savings deals would be 12 × £1.50 = £18. Other items on the same page: stamp duty of 0.5% when buying UK shares, a £1.50 takeover panel levy that "may apply" on UK deals over £10,000, and foreign exchange charges on international shares and on offshore funds not priced in sterling, tiered from 0.75% on the first £10,000 of a deal to 0.25% above £20,000.
Fund charges are set by the managers and "start from as low as 0.05%". Some funds add a bid-offer spread or a performance fee, and a fund's own transaction costs are, in the document's words, "not included within the OCF". Each fund's factsheet or Key Information Document shows them. Pot size, trading habits and fund choice all change the real total. Unsure which of these would bite on your pot? Jot that down on this page's form; an FCA-authorised adviser firm rings back and can go through it.
Taking an income from a Fidelity SIPP
Fidelity's drawdown page says "There’s no set up, one-off withdrawal or annual drawdown fees", and that what you pay is the usual service fee plus fund charges. The document adds that Fidelity makes no administration charge for taking withdrawals from the SIPP, though some Northern Ireland banks may charge for CHAPS payments, "normally £6".
Money left in drawdown stays invested, so the service fee and fund charges carry on. For someone who has not taken benefits before, entering drawdown through the Fidelity SIPP needs an account value of at least £50,000, and a pension already in drawdown elsewhere can be moved in. There is "no fee for our comprehensive guidance service", while advice is "a service you pay for". The wider picture is in how drawdown works and choosing a drawdown provider.
Moving a pension in or out
Fidelity's table lists "Transfer out to UK scheme" and "Transfer out to overseas scheme" as no charge, and the document says it does not charge exit fees "when selling investments or moving them to another provider". The new provider "may charge you for this". Two practical points from the terms on re-registering investments (moving them without selling): Fidelity will re-register "the whole of your holding in that Investment", and "Partial Re-Registration is not available within the Fidelity SIPP". If you want to move only part of a pot, ask both firms how that would work. Investment Pathway funds would be sold and sent on as cash.
Coming in, there is no charge for the transfer, and on a transfer of at least £100 Fidelity will cover up to £500 of the old provider's exit fees, with conditions: the claim is made within six months, it excludes lost returns and dealing charges, and it does not apply to investments linked to an adviser. The average transfer time given is 12 weeks. Before moving, check the old plan for guarantees, which "could be lost". Steps are in how to transfer a pension, and exit charges generally in pension transfer fees.
The FCA's advice on unexpected contact applies to transfers: "If you get a call out of the blue (a cold call) about your pension, the safest thing to do is hang up." Its pension scams page has more.
Points in the small print
- The date. The document warns that "Charges may change over time". Compare the live page with the August 2026 document.
- How the fee is taken. Fidelity collects it from a Cash Management Account around the 1st of each month; if that holds too little it uses cash within the account before selling some investments in other accounts.
- Cash. There is no service fee on cash, but Fidelity retains bank interest not paid on to customers under its own terms. See SIPP interest on cash.
- Advised customers. The document notes "if you take advice, there is a different fee structure".
- Your investments. The range is in Fidelity SIPP investment options.
The value of investments in a SIPP can fall as well as rise, and you may get back less than you paid in. For the same exercise on other firms, see Interactive Investor, Hargreaves Lansdown and Vanguard, pension charges for the types of cost, and what a SIPP is.
Fidelity SIPP fees: questions people ask
Is there a cap on Fidelity SIPP fees?
Fidelity publishes two: £2,000 a year on the service fee across personal accounts, and £90 a year on the exchange-traded part of it. Neither covers dealing, taxes or fund charges.
What does it cost to hold ETFs in a Fidelity SIPP?
The service fee on exchange-traded holdings is capped at £90, and each online deal is £7.50, or £1.50 inside a regular savings plan. Each fund's factsheet shows its own charges.
What does it cost to move a Fidelity SIPP to another provider?
Fidelity's table shows no charge for a transfer out to a UK or overseas scheme. The receiving provider may charge, and where investments are re-registered rather than sold, each holding moves whole.
Are there Fidelity drawdown charges?
Fidelity lists no set-up, one-off withdrawal or annual drawdown fees. The service fee and fund charges still apply to the money left invested.
Does Fidelity charge a fee on cash in a SIPP?
It charges no service fee on cash within the account, and retains some bank interest as described above.
Your next step
A charges page is a starting point. Where a pot, an old plan's guarantees or an income plan is in the picture, put what you hold into the form on this page; a talk by phone with an FCA-authorised adviser firm follows. Asking takes a minute or two and carries no fee.
Sources, read 19 October 2026 unless dated: Fidelity, fees and charges, SIPP, pension drawdown and transfer a pension pages; Fidelity, Doing business with Fidelity (August 2026); FCA, pension scams; MoneyHelper, Pension Wise (archived copy).