With so many SIPP providers in the UK, choosing one can feel daunting — and because fees compound over decades, the choice genuinely matters. Here’s a clear way to compare providers and understand their charges.
Understand the fee types first
Before comparing anyone, it helps to know the charges a SIPP can carry:
- Platform / annual charge — an ongoing fee for holding the account, charged as a percentage of your pot or a flat fee.
- Dealing charges — a cost each time you buy or sell investments.
- Transfer or exit fees — charges some providers apply when you move or close the account.
- Other service fees — for things like additional reporting or particular investments.
Match the provider to how you invest
Your choice should align with how you’ll actually use the account. Will you hold mostly funds, or trade shares and ETFs regularly? Some platforms specialise in certain assets or charge differently depending on what you hold, so make sure a provider supports the investments you want at a price that fits your activity.
Flat fee vs percentage: the crossover
This is the single most useful comparison. Percentage-based charges are often cheaper for smaller pots, but as your savings grow, a flat-fee provider can work out much cheaper. There’s a crossover point — for many people somewhere in the tens of thousands of pounds — where switching from a percentage to a flat fee saves real money over time. Work out the annual cost under each model at your expected pot size before deciding.
Look beyond the fees
Price matters, but it isn’t everything. A platform with slightly higher charges but a reliable app, good tools and responsive support can be worth it. Read recent customer reviews and try the interface if you can.
Check the fine print
Always read the detail. Look for charges that are easy to miss — inactivity fees, costs for particular investment types, or exit penalties — so there are no surprises later.
Comparing SIPP providers well comes down to understanding the fees, knowing how you’ll invest, and weighing cost against service. The cheapest option isn’t always the best fit — and which provider suits you depends on your own circumstances. This is general information, not a recommendation of any particular platform.