The best SIPP providers in 2026

Why we picked it

AJ Bell is a FTSE 250 company with over 640,000 clients. It offers a full suite of accounts, including SIPPs, ISAs, trading accounts, Junior ISAs and Lifetime ISAs.

Customers have access to more than 16,000 UK and international shares, 4,000 funds, 4,000 ETFs and 340 investment trusts. AJ Bell also offers a selection of ready-made managed and non-managed portfolios.

AJ Bell charges the following fees for SIPPs:

• Platform fee: 0.25% on the first £250,000, 0.10% from £250,000 to £500,000 and no charge above £500,000. Share-based investments (shares, ETFs and investment trusts) incur a 0.25% fee, capped at £10 per month.
• Trading fee: £5.00 for UK and international shares and £1.50 for funds.
• Other fees: 0.99% FX fee on trades under £10,000, falling to 0.25% to 0.50% for larger transactions.

AJ Bell holds the highest Trustpilot rating of 4.9, providing customer support via phone and live chat, alongside extensive research, webinars and podcasts.

Overall, AJ Bell is well suited to investors seeking competitive fees, a broad investment range and high-quality customer service.

How we chose the best SIPP providers

We applied three main criteria when selecting our pick of the best SIPP providers:

• competitive trading and platform fees
• a wide range of third-party investments
• a good rating on consumer review site Trustpilot

We also took into account other factors, including our experience of using the platforms, the availability of ready-made portfolios and whether providers offered other accounts such as ISAs.

We calculated indicative fees on the following basis:

• Platform fees: cheapest option across the plans.
• Portfolio value: £20,000, £100,000 and £250,000 (split equally between funds and shares/ETFs).
• Trading fees: 24 trades per year, split equally between funds and UK shares. If a provider offered free monthly trades, we assumed that all of these could be used.

Frequently asked questions

What fees do SIPP providers charge?

There are three main types of fees:

• Platform fees: charged for holding investments on the provider’s platform, either as a percentage of your pension value (typically 0.25%-0.45% per year) or a flat annual fee. Annual platform fees may be capped for share-based investments, and some of our providers do not charge a platform fee.
• Trading fees: applied when you buy or sell investments such as shares or funds. Some platforms charge no trading fees, some charge lower trading fees for frequent traders and trading fees for funds are generally lower than shares.
• Fund charges: the annual management fee for investing in funds, usually between 0.1% and 1%.

Other fees include:

• Foreign exchange (FX) fees for non-GBP trades, typically 0.5%–1%, although some providers offer multi-currency accounts to reduce this cost.
• Stamp Duty Reserve Tax (SDRT) of 0.5% when buying UK shares.

The cheapest provider depends on how often you trade, whether your portfolio is mostly shares or funds and the value of your SIPP. Always consider the combined effect of all fees rather than just headline rates.

What are the best investment options for a SIPP?

SIPPs allow investment in a wide variety of assets, including shares, funds, exchange-traded funds (ETFs), investment trusts, bonds, and cash. Cash can also be held within a SIPP, with most providers paying interest on uninvested balances.

Funds can be either actively-managed (where a fund manager selects a portfolio of investments to try to outperform the market) or passively-managed (which aim to track an index like the FTSE 100 or S&P 500). Passive funds generally have lower annual management fees.

Less-experienced investors might want to look at ready-made portfolios, robo-advisers or consult a financial adviser for guidance.

Who is eligible to open a SIPP and how do I open one online?

To open a SIPP, you must be under 75 years old and a UK resident for tax purposes. The online application process is typically quick, taking around 15 minutes. If you have a child under 18, you can open a Junior SIPP on their behalf.

There is no limit on the number of SIPPs you can hold, and you can transfer other pensions into a SIPP. However, you should consider any benefits or guarantees you might lose and check any exit fees charged. If you’re transferring a defined benefit (final salary) pension, you are legally required to seek professional financial advice.

Should I invest in a SIPP?

SIPPs are one of the most tax-efficient ways to save for retirement, offering tax relief on contributions and enabling your investments to grow free of income and capital gains tax. They’re also flexible with a wide range of investment options and multiple ways to draw your money at retirement.

The main trade-off is that funds are generally locked away until the minimum pension age, making SIPPs best suited for long-term retirement planning rather than short-term access.

SIPP vs ISA: which is better for retirement savings?

Both SIPPs and ISAs offer tax-free growth, but SIPPs also provide tax relief on contributions and a higher annual allowance, subject to certain conditions. ISAs, in contrast, can be accessed at any time, whereas SIPP funds are generally locked away until retirement.

The right choice depends on your financial situation, savings horizon, tax position and retirement goals. Many investors use both, with ISAs for shorter-term saving and SIPPs to save for retirement over the long-term.

SIPP contribution limits: how much can I pay into a SIPP each year?

Individuals can contribute up to 100% of their earnings into a SIPP each tax year, subject to the annual allowance of £60,000 for 2026/27 and a cap for high earners (explained below). This includes both personal contributions and employer contributions. Unused allowances from the previous three tax years can generally be carried forward.

Non-taxpayers can contribute up to £2,880 per year and receive the government top-up to £3,600. Children can also get the same tax relief on a Junior SIPP.

How does tax relief work on SIPP contributions?

Tax relief is applied based on your highest income tax rate.

• Basic-rate (20%) taxpayers contributing £8,000 would receive an automatic government top-up of £2,000, giving a total £10,000 contribution.
• Higher-rate (40%) taxpayers contributing £8,000 will receive the £2,000 top-up and can claim an extra 20% (£2,000) via their tax return, reducing their net cost to £6,000.
• Additional-rate (45%) taxpayers contributing £8,000 receive the £2,000 top-up and can claim 25% (£2,500) through their tax return, reducing their net cost to £5,500.

The annual allowance tapers for people earning over £200,000 a year: it’s reduced by £1 for every £2 of ‘adjusted income’ (which includes employer pension contributions) above £260,000, subject to a minimum allowance of £10,000 (for adjusted income over £360,000).

Can employers make payments to a SIPP?

Yes, employers can contribute to a SIPP, although not many employers offer this, and you will not receive tax relief on employer contributions.

Can I withdraw from a SIPP at any time?

SIPP funds are accessible from age 55, rising to 57 from April 2028. Early access is only allowed in cases of serious ill health or terminal illness.

What happens to my SIPP when I retire?

At retirement, you can take up to 25% of your pension pot tax-free, either in one lump sum or in stages. Since 2024, this tax-free amount is capped at £268,275 across all pensions if the total value exceeds £1,073,084.

You can also use your pension to purchase an annuity, which pays a guaranteed income for life, or use flexible draw down to leave your money invested and take it as needed, either by withdrawing income paid or selling some of your investments.

Can I access my SIPP before retirement?

Not generally, unless you have a serious illness which permanently prevents you from working, or are terminally ill with less than a year to live.

How is a SIPP taxed if I die?

Unused pensions are not subject to inheritance tax but may face income tax; however, this is changing. From April 2027, unused SIPPs may be subject to inheritance tax, although full details are not yet available.

Is a SIPP a defined contribution scheme?

Yes, a SIPP is a type of defined contribution pension, as your retirement pot depends on the contributions you make and the performance of your investments. This is different from defined benefit (final salary) pensions, which provide a guaranteed income on retirement. Most defined benefit schemes have been phased out over the past decade.

Can I open a Junior SIPP for my child?

Yes, you can open a Junior SIPP on behalf of a child under 18. You can contribute up to £2,880 a year, which the government tops up to £3,600. A parent or guardian must open the account, but family and friends can contribute thereafter. The child becomes the account holder and takes control of the SIPP when they reach the age of 18.

Is it better to have a workplace pension or a SIPP?

Workplace pensions often include employer contributions and require less decision-making, while SIPPs offer more investment control and flexibility. As a result, savers often hold both to balance convenience with control.

Can I transfer workplace pensions into a SIPP?

Yes, transferring workplace or personal pensions into a SIPP allows consolidation and access to a wider range of investments. However, you should be aware of any benefits or guarantees you might lose and any exit fees charged. If transferring a defined benefit (final salary) pension, you will be legally required to seek professional financial advice.

Can I have more than one SIPP?

Yes, there’s no limit. While multiple SIPPs may provide access to different investment strategies, it does increase the complexity and fees.

What are the disadvantages of a SIPP?

While SIPPs offer flexibility and tax advantages, they also have some downsides. Contributions are generally locked away until retirement, making them unsuitable for short-term access. You also have investment risk, meaning that poor performance can reduce the value of your pot.

Some providers may charge higher fees than workplace pensions, particularly for trading or holding multiple investments. Finally, complex investment options may feel overwhelming for less-experienced investors, in which case you could consider ready-made or managed portfolios or consult a financial adviser.

Can I invest in fractional shares in a SIPP?

Yes, some SIPP providers, such as Freetrade, allow you to invest in fractional shares, meaning you can buy a portion of a share rather than the full unit. This can be particularly useful for expensive US shares where even a single share can cost over a thousand pounds. Availability depends on your provider and the type of account you hold, so it’s worth checking before investing.

Please note that tax treatment depends on your individual circumstances and rules may change.