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SIPP fees and charges

ii SIPP

SIPP fees and charges

Our low, flat fees could give you thousands more in retirement.

open a SIPP   transfer your pension

 

SIPP fees at a glance

With our SIPP you’ll pay a low, flat fee. Most providers charge percentage fees that grow with your pension value.

  • Your £9.99 service plan fee gives you access to the widest range of investments on the market.
  • The SIPP fee is just £10 a month extra*, bringing the total cost to £19.99 per month.
  • SIPP customers can add a Stocks and Shares ISA, Junior ISA and Trading Account at no extra cost.
  • Once you start drawing from your pension, there is an additional £10 drawdown fee. We are removing this fee from 1 October 2020.
  • We give you a free trade every month, and there are no trading fees with our regular investing service.

* Special offer: Open a SIPP by 30 September 2020 and pay no SIPP fee until April 2021. It means you save an extra £10 a month and only have to pay your £9.99 ii service fee this tax year. Terms apply

Our SIPP administration fee is £10 per month, including VAT (special offer: pay no SIPP fee until April 2021). You will also pay a service plan fee of £9.99 per month. 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.

You will receive a free trade credit of £7.99 each month, after which UK trade commissions are £7.99.  We also offer free regular investing and dividend reinvestment.

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.

Drawdown fees

Once you take a tax-free lump sum or regular drawdown payments from your SIPP, there is an additional £10 per month drawdown fee.

The charge includes regular payments, and is payable even if you take ‘nil’ income in any year.

Please note: we are removing the drawdown fee from 1 October 2020.

 

Service plans to suit you

When you join, you will start on our Investor service plan (£9.99 a month). If you expect to make several trades per month, we offer two additional service plans to reduce your costs.

You can upgrade your service plan quickly and easily from your online account.

-Investor
£9.99 per month
(+ £10 SIPP fee)

You will start on this plan. It’s easy to upgrade later.

  • One free trade each month
  • Additional fund trades and UK share trades: £7.99

-Funds Fan
£13.99 per month
(+ £10 SIPP fee)

For investors looking to build a portfolio of funds.

  • Two free trades each month
  • Additional fund and investment trust trades: £3.99
  • Additional UK share trades: £7.99

-Super Investor
£19.99 per month
(+ £10 SIPP fee)

Our premium plan, designed for more frequent investors.

  • Two free trades each month
  • Additional UK trades (inc funds): £3.99
  • Additional US share trades: £4.99

quote My research showed it was good value … and extremely flexible in terms of buying and selling.
Read Terry's story »

SIPP charges FAQs

The easiest way to pay is by monthly direct debit. You can set this up in your online account.

Alternatively the charges can be taken from any cash balance on your account.

There is an additional £10 monthly fee when your SIPP moves into drawdown. This starts either when you take your tax-free lump sum, or when you start taking regular payments from your pension.

Please note: we are removing this fee from 1 October 2020.

It’s completely free to transfer to us. Your current provider may charge exit fees, so please check first.

This includes ‘in specie’ transfers, in which you keep the same investments as your old pension.

If you can’t find the information on this page, contact us with your questions and we’ll be happy to help.

Open a SIPP by 30 September 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.

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* Independent research

To see how investing with our Fair Flat Fees over 30 years in a SIPP compares with other providers, The Lang Cat used:  • A £150,000 initial balance  • 40 trades per year • A 50:50 split between shares and funds  • Standard charges, with no set-up fees or temporary offers.

£0 SIPP fee promotion terms and conditions¹

  1. No SIPP fee shall be charged to all new ii SIPP accounts until April 2021 (the “Offer”) that are opened from and including 3 March 2020 to and including 31 August 2020¹ (the “Offer Period”). This shall include instances where a participant has submitted a full and complete application for a new ii SIPP account during the Offer Period but the account is not yet opened, where such delay is not attributable to the acts or omissions of the participant.
  2. The Offer is open to new and existing customers.
  3. These terms and conditions should be read in conjunction with the ii SIPP Terms. In the event of a conflict between these terms and conditions and the ii SIPP Terms, these terms shall prevail.
  4. After the Offer has ended, the SIPP fee you will be required to pay will be as set out in our Rates and Charges.
  5. All other fees, for example a drawdown fee which is applied once you start to take retirement benefits, are not subject to this Offer and shall continue to apply notwithstanding.
  6. We reserve the right to alter, withdraw or amend this Offer and/or these terms and conditions at any time without prior notice.
  7. All participants to this Offer agree to be bound by these terms and conditions.
  8. Interactive Investor Services Limited (“IISL”) is the promoter of this offer. The registered office for IISL is Exchange Court, Duncombe Street, Leeds LS1 4AX.

¹ Updated 28 August 2020