What to look for in a SIPP provider
Reviewed 5 June 2026. How to compare SIPP providers on cost, choice and how you will take an income, without naming any provider.
A self-invested personal pension, or SIPP, is a pension you set up and run yourself, giving you control over where the money is invested. Like any pension, it offers Income Tax relief on contributions and keeps the money invested until at least your late fifties, with the minimum access age rising to 57 in 2028. The provider you choose shapes what it costs, what you can invest in and how easily you can take an income later.
What to compare
Charges. Look at the platform fee, the charges on the funds you would hold, and any costs for dealing, transferring in or taking an income in retirement. As with any long-term account, small differences in cost compound heavily over the decades a pension is usually held.
Investment range. A SIPP is chosen for choice, so check the range fits how you want to invest, whether that is a handful of low-cost index funds, a ready-made portfolio, or a broad selection of funds, shares and other assets.
How you will take an income. A pension is not just about building the pot; it is about drawing it later. Check how the provider handles flexible drawdown and lump sums, and what it charges to do so, because this matters as much in retirement as the building-up fees do now.
Consolidation support. If you might bring older pensions together, see how the provider handles transfers in. Before doing so, read our guide on consolidating old pension pots, because some older pensions carry guarantees that should not be given up lightly.
Protection and regulation. Use a provider authorised by the Financial Conduct Authority, which you can confirm on the FCA Register. Authorised firms come with Financial Services Compensation Scheme protection if the firm fails, separate from any investment risk you take on.
A SIPP alongside a workplace pension
A SIPP does not replace a workplace pension, and you should not give up employer contributions to open one. It tends to suit people who want more investment choice than their workplace scheme offers, who are self-employed, or who want to bring scattered pots together. If your workplace scheme is the issue, see opening a personal pension when your workplace scheme is limited. One point worth knowing: the National Insurance saving from salary sacrifice only applies through your employer's scheme, not a personal SIPP, though the Income Tax relief is the same.
Where this fits
To weigh a pension against an ISA for your own numbers, use the ISA vs Pension Calculator, and to picture the pot you are building, the Retirement Calculator can help.
Sources and useful reading
- GOV.UK: tax on your private pension
- FCA Register: check a provider is authorised
- FSCS: how pensions are protected if a firm fails
Common questions
A few questions that come up on this topic.
What is a SIPP?
A self-invested personal pension is a pension you set up and control, choosing the investments yourself from the provider's range. It gives Income Tax relief like any pension, and the money is locked away until at least age 57 from 2028.
What charges should I check on a SIPP?
The platform fee, the ongoing charges on your chosen funds, and any costs for dealing, transferring in or taking an income later. Over the long life of a pension, these compound, so they matter more than they first appear.
Should I move my workplace pension into a SIPP?
Not if it means losing employer contributions or any valuable guarantees. A SIPP usually works alongside a workplace pension rather than replacing it. Check carefully before transferring anything.
Do I get the National Insurance saving in a SIPP?
No. The National Insurance saving from salary sacrifice applies only through your employer's scheme. A personal SIPP still gives full Income Tax relief, but not the National Insurance saving.
This guide is general information for UK readers, not financial advice or a personal recommendation. It does not name or endorse any specific provider. The right choice depends on your own circumstances.
Investing involves risk. The value of investments and any income from them can go down as well as up, and you may get back less than you put in. Tax and pension rules can change.