No pension will be right for every investor – the best choice will depend on your circumstances and needs. In the tables below, we’ve listed examples of competitive products in four categories – low-cost pensions for funds, flat-fee Sipps, percentage-based Sipps and full Sipps that allow you to access a range of brokers and investments. These are not selected solely on cost, but are chosen to give a reasonable overview of the range of products that are available and the typical fees for these.
| Three of the best low-cost pensions for funds | ||||
| Fixed administration charge | Other charges | Fund charges | Share charges | |
| Bestinvest | None | None | 0.3% per year up to £250,000. 0.2% per year £250,000 – £1m, no charge over £1m | £7.50 per trade |
| Cavendish Online & Fidelity | None | None | 0.25% per year, reducing to 0.2% on whole balance over £250,000 | Not available |
| Close Brothers | 0.25% per annum | Drawdown fee of £90 per year | No further charges | £8.95 |
| Three of the best flat-fee Sipps | ||||
| Fixed administration charge | Other charges | Fund charges | Share charges | |
| Alliance Trust | £17.50+VAT per month while saving; £23.75+VAT per month once you start taking income | £342 drawdown | £9.99 per trade | £9.99 per trade |
| Selftrade | £99+VAT | £180 drawdown | 0.35% per year up to £50,000; 0.25% per year £50,000-£250,000; 0.15% over £250,000 (max £250 per quarter) | £11.75 per trade |
| Share Centre | £12+VAT per month | £234 drawdown | 1% per trade (min £7.50) or pay £20+VAT per quarter dealing option fee and £7.50 per trade | 1% per trade (min £7.50) or pay £20+VAT per quarter dealing option fee and £7.50 per trade |
| Three of the best percentage-based Sipps | ||||
| Fixed administration charge | Other charges | Fund charges | Share charges | |
| AJ Bell Youinvest | None | £25 charge for one-off payment; £100 per year for regular drawdown payments or regular uncrystallised funds pension lump sum payment | £1.50 per trade. 0.25% per year up to £250,000; 0.1% £250,000-£1m; 0.05% £1m-£2m; no further charge above £2m | £9.95 per trade. 0.25% per year (max £25 per quarter) |
| Charles Stanley Direct | £120+VAT, waived if you have assets of over £30,000 | £150+VAT for each crystallisation; £10+VAT for altering regular amount payment/frequency; £25+VAT for irregular income payment | 0.25% per year up to £250,000; 0.2% £250,000-£500,000; 0.15% £500,000-£1m; 0.05% £1m-£2m; no further charge above £2m | £11.50 per trade. 0.25% per year (min £25, max. £240), waived if one trade per month |
| Hargreaves Lansdown | None | No drawdown fee | 0.45% per year up to £250,000; 0.25% £250,000-£1m; 0.1% £1m-£2m; no further charge above £2m | £11.95 per trade. 0.45% per year (max. £200) |
| Three of the best full Sipps | ||||
| Fixed administration charge | Other charges | Fund charges | Share charges | |
| @Sipp | £250 set up fee advised; £500 non-advised; £595 annually | £160 for each crystallisation; £120 per year for regular income payment, £50 for alteration to income | £530 set-up fee for value less than £350,000; £780 for over £350,000; £495 per year for value less than £350,000; £575 per year for over £350,000 | £400 each; £500 per year |
| Carey Pension Trustees | £500 administration fee | Establishment of flex-access drawdown and payment of lump sum £250. Drawdown fees: monthly £200; quarterly £150; bi-annually or annually £125; ad-hoc £100; uncrystallised fund pension lump sum £250 | UK commercial property £750, mortgage arrangement £250; property development 0.5% | Unregulated investment transactions £500; unquoted share transactions £500; loans £300-£500 |
| Corporate & Professional | £350+VAT administration fee | £60+VAT annually from when drawdown commenced; under flexi-access drawdown a fee of £60+VAT will be charged for each ad-hoc transaction | £350+VAT for each purchase or sale; £100+VAT annually for property administration; £100+VAT for property registration; £100+VAT for loan set up | |