A Self Invested Personal Pension (SIPP) is pension you are solely responsible for, meaning you have to choose and manage your own investments.

Before you open a SIPP you need to understand how to manage and invest in individual funds otherwise you could lose the money you put in.

If you are not comfortable managing your own investments, then speak to an independent financial adviser before investing in a SIPP.

What can you invest in?

Our comparison shows you which markets you can invest in when building your SIPP, including:

  • Shares in AIM and FTSE

  • Bonds

  • Permanent Interest Bearing Shares (PIBS)

  • Personalised pension funds

Research each market before choosing the best SIPP company, as each one offers different funds with varying investment strategies.

What are the costs?

The costs can vary depending on how you invest in your SIPP. Some of the charges you could face include:

  • Annual management fees: These are the most common fee. This can either be a percentage charge of your entire pension pot each year, or a fixed fee.

  • Dealing charges: These are fees for buying and selling investments in your SIPP and are usually based on how often and how many times you make trades.

Before you start investing in a SIPP, make sure you research all the charges that apply for managing a pension with each company.

Can you transfer your pension?

Only if your new pension company allow transfers in, also known as in specie, and your existing pension company lets you transfer away from them.

What does in specie mean?

It means that you do not need to sell the individual investments in your pension, instead you move the ownership of them to another company.

  • An in specie transfer is when you transfer your pension funds from one pension scheme to another without selling the underlying assets and investments.

  • An in specie contributions is when you transfer an asset from outside of a pension fund into your chosen company.

Warning: In specie contributions are rarely used because there are usually issues that occur when transferring the actual value of each asset.



Who is responsible for the performance of my SIPP?


You are. If you are not sure how to manage your SIPP, speak to an independent financial adviser.


Do I have to choose all of the funds in my SIPP?


Yes, but most pension companies offer SIPPs that are built from a range of funds categorised by their level of risk and volatility. Find out more here.


When can I withdraw my SIPP?


Usually when you reach 55, but check with your pension company as their SIPP terms and conditions may set a different age.


How is my retirement income paid from a SIPP?


When you are 55 your pension company will contact you to ask if you want to keep paying into your SIPP or if you want to withdraw it. Read here for more.