Open a Self-Invested Personal Pension (SIPP)
Invest in yourself. Invest in your pension.
Open a three-time Which? Recommended ii SIPP, take advantage of low, flat-fee investing and enjoy the retirement you deserve.
Important information: The ii SIPP is for people who want to make their own decisions when investing for retirement. As investment values can go down as well as up, you may end up with a retirement fund that’s worth less than what you invested. Usually, you won’t be able to withdraw your money until age 55 (57 from 2028). If you’re unsure if a SIPP is right for you, please speak to an authorised financial adviser. Tax treatment depends on your individual circumstances and may be subject to change in the future.
Join ii and get 6 months free
Open a SIPP today and pay no account fee for your first 6 months.
Offer ends 31 December 2024. New customers only. Other charges apply. Terms apply.
Important information: Please don't rush into transferring your pension to our SIPP within this offer period. We regularly run offers and there will be another opportunity to claim one.
What is a Self-Invested Personal Pension?
A Self-Invested Personal Pension (SIPP) is a type of tax-efficient pension account offering you a wider choice of investments and more flexibility.
Whatever your investing experience, a SIPP can help you reach your goals. Choose from ready-made funds selected by experts, or hand-pick your own investments from the UK and global markets.
Investing with a low-cost SIPP, like the ii SIPP, gives you a greater opportunity to grow your savings for the retirement you want.
Benefits of a SIPP
Like all pensions, SIPPs have great tax benefits, but the main features that set them apart are control, choice and flexibility.
Control how you contribute
Don’t feel limited by your retirement saving options. With a SIPP, you’re in control of how much you save and when.
So, SIPPs can be a great choice for the self-employed, someone consolidating their pensions or anyone who values a bit of flexibility.
Choose your investments
Have the freedom to choose exactly what to invest your retirement savings in, and adjust your investments anytime.
If you aren't sure where to begin, you can take a hands-off approach to your pension with ready-made funds and expert picks.
Retire on your terms
Unlike some other pensions, when you’re ready to start taking an income from your SIPP, you have a range of retirement options to choose from.
Withdraw your savings from your SIPP using lump sums, income drawdown, and other flexible options.
Why choose the ii SIPP?
Why choose the ii SIPP?
Keep more of what you make
Other providers usually charge a percentage of your pot. That means you’ll be charged more as your pension grows in value. The ii SIPP is different. With our low, flat fee - from just £5.99 a month - you can keep more of what’s rightfully yours.
Enjoy more choice and flexibility
The ii SIPP offers a wide range of investments and flexible retirement options to suit most people’s needs. More choice doesn’t have to mean more complexity. Our expert picks and SIPP investment ideas can do the hard work for you.
Trust in our top-rated support
It’s easy to keep track of your pension via our website and secure mobile app. But if you’re ever in need of SIPP support, you can count on us. We’re happy to say that ii has more 5-star Trustpilot reviews than any other UK SIPP provider.
It’s official: three-time Which? Recommended SIPP
For the third year in a row, independent analysts at Which? have recognised the ii Self-Invested Personal Pension for its industry-leading choice, support and value.
Join over 430,000 ii investors and start prioritising your pension with our award-winning, low-cost SIPP.
What are the charges for an ii SIPP?
Many other providers charge a percentage of your pension pot. That can mean the more you make, the more they take.
At ii, we believe in flat monthly fees that can help you to reach your retirement goals sooner. See the table for our price plans.
Other charges, such as trading fees, apply. These are charged separately to your monthly fee. More about our plans and charges.
Monthly fee for an ii SIPP
| Account value | Monthly fee | Plan |
|---|---|---|
| Up to £50,000 | £5.99 | Pension Essentials |
| Any value | £12.99 | Pension Builder |
How does the ii SIPP work?
How does the ii SIPP work?
It takes less than 15 minutes to open an ii SIPP. Then, you can set up personal contributions through one-off payments or a regular, monthly Direct Debit.
Once your account’s set up, you can transfer any existing pensions to your SIPP using our simple online process.
We’ll automatically claim basic rate tax relief for you - a 25% top up on your contributions - and pay this into your SIPP. If you’re a higher earner, you can claim additional tax relief via your Self Assessment.
Choose from our extensive range of shares, funds, bonds and more. Or get tips from our experts to help you choose.
Save on trading fees and automate your investments with free regular investing.
And remember, you can change your investments at any time, to reflect your changing needs - before and during your retirement.
One of the best aspects of a SIPP is what you can do with it when you reach retirement.
Check out the different ways you can access your pension when you reach age 55 (57 from 2028).
Transfer your pensions to ii
You can transfer pensions of all shapes and sizes to the ii SIPP. From unloved workplace pensions or traditional life company schemes to SIPPs you're paying too much for. Whatever your pension problem, transfer to ii for more control and lower costs.
It’s free to transfer your pensions to the ii SIPP, with our simple online process and the support of our top-rated team.
Why Allison transferred her pension to ii
“I was with Hargreaves Lansdown for years, but decided to find a new provider with lower costs and a personal touch. That's when I came across interactive investor.
After comparing the two SIPPs, I found ii offered everything I needed - and for less than HL.
The actual transfer process was quick and seamless. I'm happy to continue building my retirement dream with ii.”
Your SIPP investment options
The ii SIPP offers a range of options to suit all pension investors. From shares and ETFs to ready-made funds and income options, we’ve got you covered.
Not sure how to invest in your SIPP?
No worries. Our SIPP Selected Growth Option is an optional low-cost investment that our experts have carefully selected to match common goals when investing for retirement.
SIPP FAQs
You can apply for your SIPP online in less than 15 mintues. All you’ll need is your National Insurance number, debit card and bank details.
Once your SIPP’s set up, you can add money via a one-off deposit or regular, monthly Direct Debit contributions. You can also transfer in any existing pensions you have elsewhere.
You can pay up to 100% of your salary (capped at £60,000) per year into a SIPP. This is your pension annual allowance and can be spread across all the pensions you pay into.
Your annual allowance also includes tax relief, so the maximum you can pay in yourself is usually £48,000, and the remaining £12,000 would be added by the government.
If you’ve already taken money out of your pension, or are a higher earner, your annual allowance may be lower. Remember, pension and tax rules apply and depend on your personal circumstances.
For every personal payment you make into your SIPP from your net income, we’ll automatically claim basic rate (20%) tax relief for you. So if you contribute £80, this will be topped up to £100.
Once your tax relief has been sent to us by HMRC, we’ll pay it as cash into your SIPP account, so you can choose how to invest it.
If you’re a higher rate (40%) or additional rate (45%) taxpayer, you can claim back the rest of your tax relief through your annual Self Assessment.
The earliest you can access your SIPP is age 55, rising to 57 in 2028.
At this point you’ll have several retirement options to choose from, such as tax-free lump sums, regular income drawdown, lump sums or a combination of these options.
You can take up to 25% of your pension tax-free - subject to a maximum of £268,275 - while any remaining withdrawals will be added to your income and could be taxed.
Yes, you can have a SIPP and a workplace pension and can pay into both at the same time. Just make sure your total contributions don’t exceed you annual allowance.
Once you’ve maximised your employer pension contributions, paying into a SIPP can be a great way to complement your workplace savings.
Yes – there's no limit on how many SIPPs you can have. However, bringing your pension pots together into one SIPP can make your retirement planning much simpler.
We make it easy to transfer other pensions into the ii SIPP. You can transfer when opening your account, or you can come back and do it later.
Yes, it's possible for employers to contribute to a SIPP through one-off and/or regular payments. If you want to pay into your SIPP this way, you'll first need to ask your employer if they're able to arrange this.
When you die, any remaining money in your SIPP can pass to whoever you wish. It’s important that you fill out an expression of wishes form to make sure your pension ends up in the right hands.
Your beneficiaries usually won’t pay Inheritance Tax on any money they receive but might pay Income Tax on any withdrawals if you die after age 75. If you die before age 75, they can inherit the pot without paying Income Tax.
Have a question about the ii SIPP? We can help.
Call our award-winning UK-based support team on 0345 646 2390.
You can reach one of our friendly SIPP specialists between 8am-4:30pm, Monday to Friday.
Learn more about SIPPs
How can Pension Wise help?
If you’re thinking about retiring soon and want to understand your options, make sure you speak to someone at Pension Wise.
Pension Wise is part of the government’s Money Helper service, offering free and impartial pension guidance to the over-50s. They can also help you decide if transferring your pension is the right choice for you.
