« Pension costs comparison

Take control of your pension

Hilary could potentially add £10,000 to her pension over 12 years by switching to our self-invested personal pension (SIPP).

Before switching

£1,116 annual charges in year one.

  • Based on 0.62% total product & investment charges.

After switching to the ii SIPP

£636 annual charges in year one.

  • Based on a flat fee of £239.88 (£19.99 x 12) + 0.22% fund charges.

Hilary's story

Hilary spent 15 years working for a large company in a senior role. She paid into a workplace pension scheme to which her employer also made generous payments on her behalf.

Hilary is freelance now and opened an ii SIPP a couple of years ago to keep putting money aside for her retirement. Being in control of her money is important to her, so she’s looking to transfer her old workplace pot – which is worth £180,000 - into her ii SIPP. 

Hilary plans to start using her pension to support a wind down to retirement from age 60 in 12 years time. 

Hilary likes to keep costs down, so invests across 3 passively managed funds with an aggregate annual investment charge between them of 0.22%. She plans to do the same with the money moved over from her workplace pot. Her total monthly charge with ii is £19.99, which includes £9.99 for the Investor Service Plan plus a £10 SIPP fee. 


Statistics for older pensions like Hilary's:
By 2009 there were 1.2 million people with trust-based workplace pensions to which they were no longer contributing (source: the pensions regulator).

The benefit of fair flat fees with ii

  • A £480 saving in fees in year one, without allowing for investment returns.
  • Allowing for investment growth of 5% each year Hilary could potentially save more than £8,000 in total fees and add an extra £10,000 to the value of her plan over 12 years.

This case study is for illustration only. It is based on analysis by independent experts at The Lang Cat of ii’s SIPP charges compared to a representative charge scenario for the type of pension being transferred. The charges for any pension you transfer will depend on your personal circumstances and are likely to be different (higher or lower). Find out more. Investment returns are not guaranteed and can go down as well as up.

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Open a SIPP

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Act now and save an extra £60

Open a SIPP by 31 May and pay no SIPP fee until December 2021. This means your service plan fee covers you for all of your investment accounts. Following the offer period, the ii SIPP fee is only £10 a month more.  Terms apply

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.

Promotional SIPP offer terms and conditions

  1. No SIPP fee shall be payable on all new ii SIPP accounts opened on or after 1 October 2020 for six calendar months (the "Fee Free Period"). After the Fee Free Period has ended, the SIPP fee you will be required to pay will be as set out in our then current Rates and Charges.
  2. The Fee Free Period is open to new and existing customers who open a new ii SIPP account on or after the qualifying date.
  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. All other fees associated with managing your ii SIPP account shall continue to apply.
  5. We reserve the right to alter, withdraw or amend the Fee Free Period and/or these terms and conditions at any time without prior notice.
  6. All participants opening an ii SIPP account on or after 1 October 2020 agree to be bound by these terms and conditions.
  7. Interactive Investor Services Limited (“IISL”) is the promoter of this Fee Free Period offer. The registered office for IISL is Exchange Court, Duncombe Street, Leeds LS1 4AX.