Please remember, SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial advisor before making any decisions. Pension and tax rules depend on your circumstances and may change in future.
Get your SIPP cashback offer
Open an ii SIPP and fund with at least £10,000 by 29 February 2024. You can do this by requesting a pension transfer or making a contribution.
No registration is required and multiple transfer requests and contributions count towards your total qualifying transfer amount.
We'll pay your cashback, after 12 months, in one of two ways:
- Customers on our Pension Builder and Pension Essentials plans will be paid into their nominated bank account.
- Customers on our Investor Essentials, Investor or Super Investor plans will be paid into their Trading Account.
Please check that you won’t lose any safeguarded benefits if you transfer. This could include guaranteed annuity rates or lower protected pension age than the Normal Minimum Pension Age (rising from 55 to 57 in 2028). Please also check any transfer-out fees.
We promote transfers to the ii SIPP on a regular basis. It is important that you take enough time to decide whether transferring your pensions is right for you. If you need more time and wish to qualify for an offer, please wait until the next offer period.
A cashback offer that won't be eaten up in high % fees
When it comes to investing, you need to keep your iis peeled. Generous cashback sign-up offers might look nice, but how good a deal are you actually getting?
Most investment platforms hit you with percentage fees – the more you make, the more they take. When you take that into account, how good is the cashback offer, really?
At ii, our flat fees mean you have greater control of your finances and pay the same amount every month. You deserve a cashback offer with low, flat, fair fees. Anything else just doesn’t add up.
What is a SIPP?
A Self-Invested Personal Pension (SIPP) is a type of pension that lets you choose how and where it is invested.
You can combine your other pensions into one SIPP for simpler retirement planning. And like all pensions, you'll get generous tax benefits every time you contribute.
Benefits of our SIPP
- Control - you can choose where your pension is invested, keep track of your pot, and make changes whenever you want.
- Convenience - if you transfer your other pensions to our SIPP, you'll be able to see everything in one place, and pay just one monthly fee. Learn more
- Low cost - we charge a low, flat fee. Most providers charge a percentage fee that grows with your pension. Learn more
- Tax benefits - like all pensions, contributing to a SIPP provides a range of generous tax advantages. Learn more
- Flexible retirement options - when you reach 55 (57 from 2028), we provide a range of options for taking an income from your pension. Unlike many other providers, there is no extra charge for this. Learn more
- Security - your pension is safe with us. Your money is always kept separate from our own, and we are fully FSCS protected. Over 400,000 people trust us with their pensions and other investments.
Our SIPP charges
- When you open our SIPP you will start on our £5.99 a month Pension Essentials plan.
- When the value of your account grows above £50,000 you will move onto our £12.99 a month Pension Builder plan.
- Existing customers with an ISA and/or Trading Account on our Investor Essentials plan can add a SIPP for an extra £5 a month. You can then invest up to £75,000 across your accounts. Above this you will move onto Investor + SIPP for £21.99 a month.
- You can add a SIPP on our Investor plan for just £10 a month (plus your existing monthly fee).
- There are some other fees for things like foreign currency exchange and Stamp Duty on shares. View our charges page for a full list.
Benefits of our plans
- All our plans allow you to invest as little as £25 a month using our free regular investing service.
- UK and US trades cost only £3.99.
- There are no extra fees for taking money out of your pension.
Full terms for our Pension Essentials plan can be found here.
*We've crunched the numbers: If you invested in our SIPP, after 30 years you could be better off by £85k. That's more than £1,000 difference a year, just for using us over another platform. Lots of things can affect your final figure. But the lower the fees, the more money you'll keep for yourself. This is just for illustration if all other factors were the same. Don't just take our word for it: check our working out here.
Transfer existing pensions (optional)
You can transfer most types of pension to us. Keeping all your pensions in one place keeps things simple, and could reduce your costs.
You can start a transfer while opening your SIPP, or you can do it later by logging in to your account.
Low fees? Yes please.
Save and invest with ii’s Which? recommended SIPP pension from just £5.99 a month. Additional fees and charges apply.
- Easy to get started - it only takes a few minutes to open an ii SIPP. You can also transfer exiting pensions to us once you open your SIPP.
- Easy to invest - choose from our Quick-start Funds or a wide range of shares and funds.
- Easy to manage - keep track of your pension online or using our easy-to-use app
Not sure how to invest in your SIPP?
The ii SIPP Selected Growth Option is an optional low-cost investment that our team of experts has carefully selected to match common goals when investing for retirement.
Why choose interactive investor?
- More than 400,000 people already trust us with their pensions or other investments.
- We've won multiple awards - most recently 'Investment Platform of the Year' at the Investors' Chronicle and Financial Times Celebration of Investment Awards - and are Which? Recommended.
- Our customers have rated us as 'excellent' on Trustpilot (4.7 out of 5).
- We offer one of the widest choice of investments in the market - and the expert insights to help you choose.
- And if you're not satisfied with our service, it's completely free to leave.
Learn more about our SIPP
Learn how to make the most of your SIPP with our useful guides.
How can Pension Wise help?
If you have a defined contribution pension scheme and are 50 or over, then you can access free, impartial guidance on your pension options by booking a face to face or telephone appointment with Pension Wise, a service from MoneyHelper.
If you are under 50, you can still access free, impartial help and information about your pensions from MoneyHelper.
The main difference is choice. With a SIPP (Self-Invested Personal Pension), you have complete control over how your pension is invested.
Other pensions usually give you some choice, but it is often limited to a small selection of your pension provider’s own funds.
The idea of choosing your own investments can be daunting, but as long as you take it slowly it’s not as difficult as it sounds.
- Our Quick-start Funds are a good place to start. Chosen by our experts, they are invested across a wide range of markets and sectors, which can help to reduce risk. Many experienced investors trust these funds, too.
- Our experts have also put together a range of recommendations to suit different investment goals. See our Super 60 investment list and ACE 40 ethical list.
- As an ii customer, you can get expert news and analysis sent straight to your inbox, and our Knowledge Centre is another good way to expand your knowledge.
- More confident investors can choose from a huge range of shares, funds, investment trusts and ETFs.
We’ve made it easy to transfer existing pensions to us. You can simply follow the instructions while opening an account, or you can do it later by logging in to your account and selecting ‘Cash & transfers’ followed by ‘Transfer in’.
You will need the account details for the pensions you want to transfer.
We don’t charge you for transferring in, but your other providers may charge exit fees, so check this before you begin.
Things to remember:
- Before you transfer, you should think carefully about whether you would be losing any benefits, such as employer contributions, guaranteed annuity rates, or a protected pension age that is lower than the Normal Minimum Pension Age (rising from 55 to 57 in 2028). If you are unsure, you should seek advice from a suitably qualified financial advisor.
- You should also check for any transfer-out fees from your current provider(s).
You can transfer most types of pension to us. These include:
- Other personal / private pensions
- Pensions in drawdown
- Other SIPPs
- Executive Pension Plans
- Defined Benefit Occupational Pension Schemes
- Free Standing Additional Voluntary Contributions (FSAVCs)
- Small Self-Administered Schemes (SASS)
- Stakeholder pension plans
- Occupational Money Purchase Schemes
- Retirement Annuity Plans
- Recognised Overseas Pension schemes
If you’re not sure whether you can transfer, check with your current provider(s).
If you plan to hold both drawdown and non-drawdown pots in your SIPP, you cannot allocate specific investments to each pot separately. This means that the value of each pot will change in line with the overall performance of all the investments in in the SIPP.
Transferring your pension as a cash payment usually takes 2 to 6 weeks to complete.
Transferring your existing investments will take longer – typically 8 to 12 weeks.
You can still contribute to your ii SIPP during this time.
Please note that these timeframes are a guide, starting from when you have sent all the forms and information we require. Transfers can take longer depending on the type of investments you hold.
Yes, it’s possible for your employer to contribute in the same way as a workplace pension. You will need to ask them to do this, although they don’t have to accept.
Your level of tax relief is based on your income tax rate. Basic rate tax relief (20%) is added to your pension contributions automatically. So if you contribute £80, this will be topped up to £100.
If you are a higher rate (40%) or additional rate (45%) taxpayer, you can claim back the rest through a Self Assessment tax return.
Yes – there is no limit on how many pensions you can have. However, transferring pensions into one SIPP can make your retirement planning much simpler.
We make it easy to transfer other pensions into our SIPP. You can transfer when opening your account, or you can come back and do it later. Find out more
Like all pensions, our SIPP has a generous contribution limit - up to 100% of your salary (capped at £60,000) per year.
This includes tax relief, so the maximum you can pay yourself is £48,000, and the remaining £12,000 would be added by the government.
Yes, and we would always encourage you to seek advice if you are unsure whether a SIPP is right for you.
If you are over 50, you can get free and impartial pensions guidance from Pension Wise.
Please note that financial advice is a legal requirement if you are transferring out of a defined benefit (e.g. final salary) or hybrid pension scheme worth more than £30,000.
Yes - you will still receive a 20% top-up on your contributions.
Even if you are unemployed and not earning anything, you can contribute up to £3,600 a year. This includes tax relief – so your personal contribution would be up to £2,880, with the remaining £720 coming from the government.