A Self-Invested Personal Pension (SIPP) gives you control over where your pension is invested. With dozens of providers on the market, fees and features vary enormously. This league table ranks the leading SIPP platforms based on cost, investment choice, and service quality. It is general information, not a personal recommendation — the best provider for you depends on your pot size, investment preferences, and circumstances.
Key takeaways
- Vanguard is the cheapest SIPP for straightforward index investors (0.15%, capped £375/yr)
- interactive investor's flat £12.99/month fee becomes better value above ~£62,000
- Hargreaves Lansdown offers the widest choice but at the highest price
- PensionBee suits consolidators rather than hands-on self-directed investors
- Always check the provider's current fee schedule before opening an account
2026 SIPP Provider League Table
Ranked by overall value for money, with particular weight given to the all-in annual cost for a typical self-directed investor. Fees shown are as published by each provider and correct as at June 2026 — check the provider's current schedule before opening an account.
| # | Provider | Platform Fee | Trading Cost | Min Investment | Verdict |
|---|---|---|---|---|---|
| 1 | Vanguard | 0.15% p.a. (capped £375/yr) | No dealing charge (Vanguard funds) | £500 lump sum or £100/month | Best for low-cost index investors with a straightforward fund range |
| 2 | AJ Bell | 0.25% up to £250k; 0.10% to £500k; 0.05% above | £1.50 (funds), £9.95 (shares/ETFs) | £500 or £25/month | Strong all-rounder; competitive at most pot sizes |
| 3 | interactive investor | £12.99/month (Investor plan) | One free trade/month; £5.99 thereafter | None | Better value than percentage fees for pots above £100k |
| 4 | Fidelity | 0.35% up to £250k (min £45/yr); capped £45/month on shares/ETFs | £10 (shares/ETFs; free for funds) | £1,000 lump sum or £50/month | Wide fund range and strong research tools; good mid-range option |
| 5 | Hargreaves Lansdown | 0.45% up to £250k (capped £200/yr on shares/ETFs) | £11.95 (1–9 trades/month); lower with volume | None | Widest choice and best-in-class service; premium price is the trade-off |
| 6 | PensionBee | 0.50%–0.95% p.a. (depends on plan) | None (managed plans) | Ideal for consolidating old workplace pots; limited self-direction |
Sources: provider fee schedules (Vanguard, AJ Bell, ii, Fidelity, HL, PensionBee — accessed June 2026); MoneyHelper: SIPPs; the lang cat Platform Market Monitor Q1 2026.
Provider Shortlist: Who Should Consider Each?
- Vanguard SIPP — Best for investors happy with Vanguard's own fund range (predominantly index trackers and LifeStrategy funds). The 0.15% cap makes it the cheapest option at pots above £250k. Not suitable if you want shares, investment trusts, or third-party ETFs.
- AJ Bell SIPP — Good all-round choice for investors who want a wide fund, ETF, and share range without paying HL prices. The tiered percentage fee favours smaller and mid-size pots.
- interactive investor SIPP — The flat £12.99/month charge (around £156/year) beats percentage fees at pots above roughly £62,000. Includes a free trade each month and strong research content.
- Fidelity SIPP — Strong fund range including institutional share classes not always available elsewhere. The share cap (£45/month) provides some protection for large pots holding ETFs and shares.
- Hargreaves Lansdown SIPP — The largest UK SIPP platform by assets. Best service and widest investment choice, but the 0.45% annual fee and higher dealing charges mean it is one of the most expensive for larger pots. Worth it if service and breadth matter most.
- PensionBee — A consolidation-first pension, not a fully self-directed SIPP. If you want to gather old workplace pots into one managed account with minimal admin, PensionBee delivers. Not suitable for hands-on investors who want to pick their own funds. Use our financial planning tools to model how managed pension charges compound over time.
What Is a SIPP?
A Self-Invested Personal Pension (SIPP) is a type of personal pension that gives you greater control over where your money is invested. Unlike a standard personal pension, where the provider manages a limited fund menu, a SIPP lets you choose from a wide range of investments — funds, ETFs, investment trusts, shares, bonds, and more.
Tax relief works the same way as any other pension: basic rate taxpayers receive 20% relief at source; higher and additional rate taxpayers can claim extra through Self Assessment. You can contribute up to your annual earnings or the £60,000 annual allowance (2026/27), whichever is lower.
SIPPs are suitable for experienced, engaged investors and for those consolidating multiple old workplace pensions into one place. If you are new to investing or prefer a hands-off approach, a personal pension or robo-advised SIPP may be more appropriate. A regulated financial adviser can help you decide.
Methodology and Sources
Updated: June 2026. Next scheduled review: December 2026.
Ranking criteria (in order of weighting):
- Total annual cost (50%) — We model a £50,000 and a £200,000 pot invested in a typical low-cost index fund (0.12% OCF) and calculate the all-in annual charge at each provider.
- Investment range (25%) — Number of funds, ETFs, investment trusts, and shares available.
- Service quality (15%) — Trustpilot score (minimum 500 reviews), Financial Ombudsman complaints rate (complaints upheld per 1,000 cases), and availability of telephone and online support.
- Drawdown capability (10%) — Whether income drawdown is available within the same wrapper, and at what additional cost.
Sources:
- Provider fee schedules: Vanguard, AJ Bell, interactive investor, Fidelity, Hargreaves Lansdown
- MoneyHelper: SIPPs
- lang cat Platform Market Monitor, Q1 2026
- FCA Register (authorisation confirmed June 2026)
Important: This table is general information, not a personal recommendation. Charges, features, and rankings can change. Always read the Key Investor Information Document (KIID) and the provider's full terms before opening an account. For personalised advice, consult an FCA-regulated financial adviser.
Important: This guide is for general educational purposes only and does not constitute financial advice. Tax rules can change and individual circumstances vary. If you need advice tailored to your situation, please consult a qualified, FCA-regulated financial adviser. You can browse advisers in our adviser directory.