Fidelity SIPP

Retire the way you want to by investing in a simple to manage, tax-efficient personal pension.

A Fidelity Self-Invested Personal Pension (SIPP) is a great way to start saving for retirement. It can also make a good home if you’re looking to bring together several pension pots, helping you take control of your retirement savings and plan ahead more effectively.

Ready to retire?

If you’re thinking about using our SIPP to take some tax-free cash or take a flexible income from your pension, our retirement specialists can help.

The value of investments can go down as well as up so you may not get back what you invest. Eligibility to invest in a SIPP or Junior SIPP depends on personal circumstances and all tax rules may change in the future.

You cannot normally access money in a SIPP until age 55. It’s important to understand that pension transfers are a complex area and may not be suitable for everyone. Before going ahead with a pension transfer, we strongly recommend that you undertake a full comparison of the benefits, charges and features offered. To find out what else you should consider before transferring, please read our transfer factsheet. If you are in any doubt whether or not a pension transfer is suitable for your circumstances we strongly suggest that you seek advice from an authorised financial adviser.

Need help deciding how to invest?

Find a ready-made solution

Use our PathFinder planning tool to select a ready-made, diversified fund based on your preferred risk level in just three steps.

PathFinder

Get expert guidance

Choose from a list of top-rated funds hand-picked by our investment experts.

Select 50

Build your own portfolio

Explore our full range of investment options to find, filter and select your own combination of investments.

Investment Finder

These guidance tools are not a personal recommendation in respect of a particular investment. If you need additional help, please speak to a financial adviser. You should regularly reassess the suitability of your investments to ensure they continue to meet your attitude to risk and investment goals.

Make life easier by bringing your pensions together

Combining your pensions into a Self-Invested Personal Pension (SIPP) can make it easier to manage your savings - and it could be cheaper, with lower fees than you’re currently paying.

SIPP FAQs

What are the Fidelity SIPP eligibility rules?

To be able to open a SIPP you need to be either a:

  • UK resident or
  • Crown servant performing duties abroad or
  • married to or in a civil partnership with a Crown servant

If you wish to make contributions to the Fidelity SIPP you need to be:

  • under the age of 75 and a
  • UK resident for tax purposes or a
  • Crown servant performing duties abroad or
  • married to or in a civil partnership with a Crown servant

If you are a US citizen you cannot open a SIPP with Fidelity.

Who can contribute to my SIPP?

Anyone can contribute to your SIPP as a single or regular contributor using our paper form. You will be eligible to receive tax relief on any contributions made on your behalf by another individual subject to you having relevant earnings and subject to your annual allowance.

An employer may also choose to contribute to your SIPP by completing our form. You will not be eligible to receive tax relief on any contributions made by an employer.

Is my pension taxable?

You will not have to pay tax on money whilst it remains in your pension pot. You will normally only pay tax if you withdraw money from the pension pot. Up to 25% of your pension pot is usually tax-free and any further money that is taken will be taxed just like any other earnings.

However, there are two other occasions which may result in paying tax on the savings within your pension pot:

  • exceeding your annual or lifetime allowance (see more details on pension annual allowances)
  • when you die and there is still money remaining in the pension

Find out about the ways of taking money from a pension and how the tax works or more about tax-free cash.

How much does the Fidelity SIPP cost?

For a Fidelity SIPP (and all our other products), if you've got less than £7,500 with us, we charge a flat-rate fee of £45 a year or 0.35% if you have a monthly regular savings plan of £50 or over. If the total value of your investments is between £7,500-£249,999.99, we charge a rate of 0.35% and 0.20% if it is over this. Fee’s are payable on investments up to £1million.

You may also need to pay investment charges set by the company managing your funds. To find out more details on investment charges, see our Doing business with Fidelity guide.

Find out more about our fees.

Can I transfer my pension to the Fidelity SIPP?

Yes, you can transfer your pension to us. When you move your pension (minimum of £1,000) to us, we’ll reimburse any exit fees that your former providers charge you, up to a maximum of £500 per customer. Of course, you need to decide whether these fees will impact the future value of your pension. You should also check your pension for valuable benefits that you may give up by moving your pension.

You can find out more about transferring your pension with our pension transfer factsheet or on our pension transfer page.

See more SIPP FAQs.

 

Why choose Fidelity

What is a SIPP?

Rates of tax relief for Scottish Residents may differ to the rest of the UK.

Video Transcript - What is a SIPP?

So what are self-invested personal pensions? Self-invested personal pensions or SIPPs are designed for people who want to take control over how their pension savings are invested. The investments in your SIPP will grow free of income tax and capital gains. You can invest with your own money, through your employer, or you can transfer from an existing pension. With SIPPs you decide how much you want to invest. Self-invested personal pensions give you the opportunity to invest in a range of assets; including unit trusts, shares, cash or open ended investment companies.

The great thing about a SIPP is that for every £800 a UK tax payer saves, the government gives you tax relief, effectively boosting your savings by £200, giving you a total contribution of £1,000. And if you are a higher rate tax payer, you may claim more tax relief through your annual tax return.

If you are considering transferring to a SIPP, it may be sensible to talk to an authorised financial advisor before making a decision.

Clear and simple pricing

Our pricing has no hidden charges or fees, so you know exactly what you pay for and when you pay it.

Fidelity Personal Investing service fee

  • One flat-rate fee of £45 a year if you’ve got less than £7,500 invested—that’s only £3.75 a month; or 0.35% if you have a regular savings plan (RSP) of £50 or over.
  • Or our standard service fee of 0.35%
  • Drops down to 0.2% if you’ve got more than £250,000
  • Children's accounts with less than £7,500 invested have a flat-rate of £25 a year—even if they hold more than one
Total value of investmentsService fee (annual amount or rate)
Worth less than £7,500 £45 without monthly regular savings plan
0.35% with monthly regular savings plan
£25 for Junior ISAs/Junior Pensions
£7,500 or more but less than £250,000 0.35%
£250,000 or more but less than £1 million 0.20%
No further service fee is charged for assets held above £1 million
* Please note that the service fee will be charged on the entire portfolio.
For Exchange Traded Instruments including Investment Trusts, this is capped at £45.
There is no service fee for these investments held in the Fidelity Investment Account.

Bring your pensions together

If you’ve built up a number of pension pots over the course of your working life, bringing your pension plans together into the Fidelity Self-Invested Personal Pension (SIPP) could make them easier to manage.

Not to mention helping you keep an eye on costs and giving you access to a wealth of Fidelity guidance.

You can even track your transfer online, with the status of each request at your fingertips.

Get some specialist help

Our retirement specialists are able to provide both guidance and advice around your retirement options. The service we offer is based purely on helping you find the most appropriate solution for your retirement and our flat-rate advice fee is lower than many other leading providers.

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The value of investments can go down as well as up, so you may get back less than you invest. This information is not a personal recommendation for any particular product, service or course of action. Pension and retirement planning can be complex, so if you are unsure about the suitability of a pension investment, retirement service or any action you need to take, please contact Fidelity’s retirement service on 0800 084 5045 or refer to your financial adviser.  Eligibility to invest into a SIPP or Junior SIPP depends on personal circumstances and all tax rules may change in future. Pension money cannot usually be withdrawn until age 55.