Self-Invested Personal Pension (SIPP)
A flexible and convenient way to be invested for the future you want, with significant tax benefits. You choose what to invest in and when, helping boost your retirement savings and strengthen your pension over time, in a way that suits you.
Important information - investment values can go down as well as up, so you may get back less than you invest. SIPP eligibility and tax treatment depends on individual circumstances and tax rules may change. You cannot normally access money in a pension until age 55 (57 from 2028). Before transferring a pension, compare all the benefits, charges and features and always seek financial advice if you’re unsure.
- A tax-efficient way for you to save for retirement
- Get tax relief of between 20% and 45% (48% if you live in Scotland) on all eligible contributions*
- Start from as little as £20 a month or from £1,000 as a lump sum
- Flexible income options when the time comes to begin taking your pension
- Tools and guidance to help you invest your money. For extra support, we have dedicated teams to talk to
- Funds from popular providers, including Fidelity funds, M&G, Fundsmith, Vanguard and many more
- Own shares in some of the best-known UK companies - from Burberry to Wetherspoon
- Over 50 years' investment experience, serving over 1.7 million UK investors^
- Which? Recommended Provider - we’re delighted to be a recommended provider for our SIPP five years running
^Source: Fidelity, as at 30.09.25
*The government contributes 20% basic rate tax relief of the total amount invested in your SIPP. To pay in a total of £25 to your SIPP, you only need to contribute £20, and the government will pay the other £5. If you pay income tax at above the basic rate, you can claim even more tax relief through your tax return or by writing to HMRC. You can contribute and get tax relief up to the Annual Allowance of £60,000, or if you earn below this then tax relief is limited to 100% of your earnings (or to £3,600 if you have no earnings). Learn more about pension tax allowances.
Our SIPP fees and charges
Service fee rate
0.35%typically £3.50 for every £1,000 invested*
Larger portfolios*
0.2%and qualify for our Wealth Management Service
Buy and sell shares
£7.50for share deals placed online
*0.35% service fee applies if you have a regular savings plan or have more than £25,000 invested. Otherwise, a £7.50 per month service fee applies. There will also be investment charges set by the companies and funds you’re investing into which sit outside of our service and dealing fees. 0.2% service fee applies to accounts with over £250,000 invested, and applies to the total value of your investments.
Your pension investment options
Opening your SIPP is one step. You’ll also need to choose your investments to hold in it. If you’re unsure, here’s some fund ideas to consider.
Retirement Builder
A diversified, medium risk fund that aims to achieve stable growth over the medium to long term.
Navigator
Answer a few simple questions and we’ll show you a diversified fund to consider based on what’s important to you.
Select 50
A list of our favourite funds, selected by experts to help you narrow down your options.
If you want to see all the investments we have, you can
search, filter and compare funds, shares, ETFs and investment trusts from the thousands we have available.
Important information - This information and these tools are not a personal recommendation for a specific investment. You must ensure that the fund you choose is suitable for your individual circumstances and remains so over time. Seek advice if you're unsure.
Our SIPP charges summary
Our service fee
- The service fee is based on the total amount of money you have with us:
- Less than £25,000 - 0.35% if you have a regular savings plan or £90 (£7.50 a month) if you don't
- £25,000 or more but less than £250,000 - 0.35%*
- £250,000 or more but less than £1 million - 0.2%
- £1 million+ - 0.2% a year for the first £1 million and no service fee for investments over £1 million. This means the maximum fee you will ever pay for all of your personal accounts is £2,000 a year.
There will also be investment charges set by the companies and funds you’re investing into, which sit outside of our service and dealing fees.
Our share dealing charges
- There is a charge made for each buy and sell transaction you place (including switches and dividend reinvestments). This will be deducted from the amount invested or raised through a sale.
- £7.50 - Simple charge for each deal placed online
- £1.50 - for deals as part of a regular savings or withdrawal plan, or for a reinvestment of income or a dividend
- £30 - for each deal made by phone
Stamp Duty can apply to shares. Levies and taxes may also apply to certain transactions. See our Charges in detail page for a full breakdown of our fees and charges.
SIPP FAQs
To be able to open a SIPP you need to be:
- a UK resident or
- a 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 person you cannot open a SIPP with Fidelity.
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.
You will not have to pay tax on money while 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 up to the lump sum allowance, 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 allowance (see more details on pension 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.
- If you have between £25,000 and £250,000 invested with us, you will pay our standard service fee of 0.35%.
- If you have more than £250,000 invested, you will benefit from our lower service fee of 0.20%. We do not charge you a service fee on any investments above £1 million.
- If you have less than £25,000 invested, you will pay a flat-rate fee of £90 a year, that’s £7.50 a month. However, if you set up a regular savings plan, you will be eligible for our standard service fee of 0.35%.
- There is no service fee on junior accounts, or on exchange-traded investments held in an Investment Account.
There are also charges set by the company managing any funds you own and charges related to share dealing. For a comprehensive view of our fees and charges please visit our fees and charges pages.
Yes, you can transfer your pension to us. When you move your pension (minimum of £100) to us, we’ll reimburse any exit fees (subject to T&Cs) 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.
Self-employed workers have the same right to a pension as those who are employed by a third party.
The State Pension is an obvious example. The rules on eligibility are exactly the same, but where an employed person would have their National Insurance contribution deducted and paid to HMRC by their employer from their gross pay, a self-employed person needs to do it themselves through their tax return.
Similarly, a self-employed person will need to open and make contributions to a pension themselves as there's no employer to take care of this for them. This could be done in a personal pension, or in any savings account, for example a stocks and shares ISA (after all, a pension at its most basic level is any money you have saved for your retirement). Both options offer the same tax efficiencies that an employed person enjoys.
Fidelity offer both a Stocks & Shares ISA and a Self-Invested Personal Pension (SIPP), both of which allow you to invest in a wider range of investments from different providers, including funds from Jupiter, M&G, Fundsmith and Invesco, as well as Fidelity's own range of mutual funds, investment trusts and exchange-traded funds (ETFs).
