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SIPP charges

ii SIPP

SIPP charges

Learn exactly how much you will be paying for the ii SIPP. If you are not satisfied, it is free to leave.

Our fees stay the same while you're building your pension pot, no matter how much you invest. Once you start to take retirement benefits, there is an additional £10 monthly pension drawdown fee.

Our service plan charges start from £9.99 per month. We believe that charging a fixed fee is fairer than percentage-based fees. You will always know what you are paying, and your charges will stay the same as your investment grows. This can lead to significant savings over a long-term investment. 

With our fair flat fees you can watch your portfolio grow while your costs stay the same.

SIPP Management Charges

Our SIPP administration fee is £10 per month, including VAT (special offer: pay no SIPP fee until April 2021) . There is no charge for opening a SIPP, and we do not charge any exit fees. The full breakdown of SIPP management fees is as follows:  

SIPP administration fee £10 per month including VAT Payable monthly in addition to your service plan.
Transfer out to another UK-based provider No charge  
Transfer out to an overseas scheme £500 + VAT  
Pension sharing on divorce £300 + VAT Payable for the calculation and processing of pension sharing on divorce.
Payment of death benefits Typically £200 - £500 + VAT The charge for the calculation and processing of death benefits will be based on the time spent so will depend on the complexity of your case.

Our monthly service plan charge is £9.99, and UK trade commissions are £7.99.  We also offer free regular investing and dividend reinvestment, and each month you will receive free credit of £7.99 to use against any trades.

Charges when accessing your SIPP

Once you start to take retirement benefits, there is an additional £10 monthly drawdown fee. The charge includes regular payments, and is payable even if you elect to take "nil" income in any year.

Government charges that can apply to your SIPP

Government charges such as stamp duty may apply to certain transactions. Potential charges are as follows:

UK Stamp Duty 0.5% UK equity buys
Irish Stamp Duty 1.00% Irish equity buys
UK PTM levy £1 Flat-rate charge on UK equity buys and sells where the trade value is more than £10,000.
ITP levy €1.25 Flat-rate charge on Irish equity buys and sells where the trade value is more than €12,500.
Hong Kong transaction levy 0.0027% Equity and company warrant buys and sells.
Hong Kong trading fee 0.05% Equity and company warrant buys and sells.
Hong Kong Stamp Duty 0.1% (Rounded up to the nearest HKD) Equity and company warrant buys and sells.
Singapore clearing fee 0.0325% All buys and sells
French Financial Transaction tax 0.3% For buys of eligible French stocks.
Italian Financial Transaction tax 0.1% For buys of eligible Italian stocks.

Open a SIPP by 29 May 2020 and pay no SIPP fee until April 2021.

This means your service plan fee of £9.99 covers you for all of your investment accounts. Following the offer period, the ii SIPP fee is only £10 a month more, and could save thousands compared to other pension providers who charge a percentage fee.  Terms apply

open a SIPP   transfer your pension

The ii SIPP is aimed at clients who have sufficient knowledge and experience of investing to make their own investment decisions and want to actively manage their investments. A SIPP is not suitable for every investor. Other types of pensions may be more appropriate. The value of investments made within a SIPP can fall as well as rise and you may end up with a fund at retirement that’s worth less than you invested. You can normally only access the money from age 55 (age 57 from 2028). Prior to making any decision about the suitability of a SIPP, or transferring any existing pension plan(s) into a SIPP we recommend that you seek the advice of a suitably qualified financial adviser. Please note the tax treatment of these products depends on the individual circumstances of each customer and may be subject to change in future.