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
SIPP management fees
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 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.|
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.
£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
£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
£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
SIPP charges FAQs
How are SIPP charges paid?
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.
What are the SIPP charges during drawdown?
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.
Are there any charges to transfer my investments to the ii SIPP?
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.
How can I find out more about the ii SIPP charges?
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
* Independent research
£0 SIPP fee promotion terms and conditions¹
- 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.
- The Offer is open to new and existing customers.
- 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.
- After the Offer has ended, the SIPP fee you will be required to pay will be as set out in our Rates and Charges.
- 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.
- We reserve the right to alter, withdraw or amend this Offer and/or these terms and conditions at any time without prior notice.
- All participants to this Offer agree to be bound by these terms and conditions.
- 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