Best SIPP for Low Fees UK 2026/27

Lowest-fee UK SIPPs compared

Why SIPP fees matter so much

SIPPs compound for 30+ years. A 0.3% fee gap on £100,000 growing at 6% costs approximately £45,000 in terminal wealth over 30 years. Fees are the largest controllable variable in pension outcomes.

InvestEngine SIPP — the lowest-fee UK SIPP

Launched 2023. 0% platform fee on DIY ETF portfolios. Managed portfolios cost 0.15%. Free ETF dealing. Support for the standard drawdown mechanics.

Total annual cost on £50,000 in Vanguard FTSE All-World SIPP: ~£110 (all OCF, no platform fee).

Same at HL: ~£310 (£200 cap + £110 OCF).

Trade-offs: ETF-only. No LifeStrategy funds. Newer platform with less service track record than HL.

Open account with InvestEngine →

Vanguard Investor UK SIPP

0.15% platform fee capped at £375/year. Only Vanguard products. LifeStrategy funds available. For a £250,000+ SIPP holding Vanguard LifeStrategy, the £375 cap makes this the cheapest fund-based route.

Interactive Investor SIPP

Flat monthly fee — £5.99 (Essentials, up to £50k) or £12.99 (Builder). For SIPP pots over £100,000, this becomes the cheapest option in percentage terms. Below £75,000, percentage-based platforms usually win.

Hargreaves Lansdown SIPP — capped ETF fees

0.45% custody on funds tiered down, capped at £200/year on shares/ETFs. For an ETF-only SIPP, HL's £200 cap kicks in around £45,000 — competitive above that.

You gain HL's research library, phone team, and comprehensive drawdown support. Full analysis in our HL review.

Open account with Hargreaves Lansdown →

Fee comparison at multiple pot sizes

Includes ETF/fund OCF of ~0.22%. Interactive Investor's flat fee scales best at £150k+.

Beyond headline fees — hidden costs

• Dealing charges (usually 0 on funds, £3–£12 on ETFs at some platforms).
• FX charges on non-GBP-priced shares.
• Drawdown-specific charges (rare on modern SIPPs but check).
• Consolidation transfer fees (usually free but confirm).
• Cash interest — platform often keeps some of it.

Decision framework — lowest-fee SIPP

1. DIY ETF portfolio, any size? → InvestEngine.
2. Vanguard LifeStrategy only? → Vanguard Investor UK.
3. SIPP over £150,000? → Consider Interactive Investor flat fee.
4. ETF-only over £50,000, want research and phone team? → HL (£200 cap).

Final recommendation

For pure DIY ETF SIPPs, InvestEngine at 0% platform fee is the outright cost winner. For SIPPs where research and phone support are valued alongside low costs, Hargreaves Lansdown's £200 ETF fee cap is competitive above about £45,000. Both approved PennyWise partners.

Open account with InvestEngine →

Open account with Hargreaves Lansdown →

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Frequently asked questions

What's the cheapest UK SIPP in 2026?

For DIY ETF portfolios, InvestEngine at 0% platform fee. For Vanguard LifeStrategy portfolios, Vanguard Investor UK. For SIPP pots over £150k, Interactive Investor's flat fee.

Do low fees mean lower quality?

Not necessarily. FSCS cover and regulation apply the same way. What varies is research depth, phone support and platform maturity.

How much does a 0.3% fee gap cost over 30 years?

On £100,000 at 6% return, roughly £45,000 in terminal wealth. Small percentages matter.

Can I transfer SIPPs between platforms?

Yes. FCA rules prohibit exit fees on most modern SIPPs. Transfers typically complete in 4-8 weeks.

Are cheap SIPPs safe?

FSCS investment cover applies up to £85,000 per person per platform. Investments held in nominee structure separate from platform.