Fidelity SIPP UK: Charges, Funds and How It Works
Quick answer
The Fidelity SIPP is a low-cost self-invested personal pension. The service fee is 0.35% a year on funds, falling to 0.20% above GBP 250,000, and is capped at GBP 90 a year if you hold shares and ETFs. Fund dealing is free; share deals cost GBP 7.50. You pick the investments, or use a ready-made option.
Fidelity SIPP charges and features (2026)
| Feature | Detail |
|---|---|
| Account type | Self-invested personal pension (defined contribution - you choose the investments) |
| Service fee (funds) | 0.35% a year up to GBP 250,000, then 0.20%; below GBP 25,000 it is GBP 90 a year without a regular savings plan |
| Service fee (shares, ETFs, investment trusts) | 0.35% but capped at GBP 90 a year (GBP 7.50 a month) |
| Fund dealing | Free online |
| Share dealing | GBP 7.50 per online deal (GBP 1.50 in a regular savings plan) |
| Ready-made option | Yes - ready-made portfolios if you do not want to pick funds |
| Access age | 55, rising to 57 on 6 April 2028 |
| Protection | FCA-regulated; FSCS may cover up to GBP 85,000 per person if the provider fails (this is the investment cap, not the GBP 120,000 deposit cap, and it does not cover investment losses) |
Step by step
- 1
Check the fee on your pot size
Work out 0.35% of your pot (or 0.20% above GBP 250,000). If you mainly hold shares, ETFs or investment trusts, the GBP 90 a year cap may make it cheaper than a percentage-fee rival.
- 2
Decide ready-made or self-select
Pick a ready-made portfolio for simplicity, or choose your own funds and shares if you want control.
- 3
Mind the dealing charges
Fund dealing is free, but each share deal costs GBP 7.50, so frequent share trading adds up. A regular savings plan cuts this to GBP 1.50.
- 4
Transfer in old pensions
You can usually consolidate old defined contribution pots in - but check for exit fees and any guarantees you would lose before moving.
- 5
Remember the access age
You cannot draw a SIPP until age 55 (57 from April 2028), so it is money locked away for the long term.
A SIPP is a do-it-yourself pension: the tax relief of any pension, but you choose the investments. The Fidelity SIPP is one of the larger UK options, and this guide sets out what it actually costs rather than what the marketing says. The headline is a 0.35% a year service fee on funds, which is mid-market, plus the useful detail that shares, ETFs and investment trusts are capped at GBP 90 a year - so a big pot held in exchange-traded investments can be cheap to run here.
The number that decides whether Fidelity is right for you is your own. Percentage fees like 0.35% are fine on a modest fund-based pot but grow with the pot, so once you are into six figures a flat-fee provider can work out cheaper. Run the total annual cost on your pot before you move, and remember dealing charges: funds are free to trade, but share deals are GBP 7.50 each.
For the wider decision, see SIPP versus workplace pension, ISA versus pension, and our best UK investment platform comparison. To turn the eventual pot into a retirement income, use our pension calculator guide. This is general information, not financial advice; tax and pension rules can change, and the value of investments can fall as well as rise.
Frequently asked questions
Is the Fidelity SIPP any good?
For fund investors it is competitively priced at 0.35% a year, and the GBP 90 cap on shares and ETFs makes it attractive for larger pots held in exchange-traded investments. Whether it is right for you depends on what you hold and your pot size rather than the brand, so compare the fee against a flat-fee rival.
Who is the best SIPP provider in the UK?
There is no single best. Percentage-fee providers like Fidelity suit smaller fund-based pots; flat-fee providers can be cheaper for large pots or share portfolios. Compare the total annual cost on your own pot size and holdings, not the headline rate.
What is the 3 year rule for a SIPP?
It usually refers to carry forward: you can use unused pension annual allowance from the previous three tax years, on top of the current GBP 60,000 allowance, as long as you were a scheme member in those years and have the earnings to support it.
Can I transfer my pension into a Fidelity SIPP?
Yes, defined contribution pensions can usually be transferred in and consolidated. Check first for exit charges, lost employer contributions on an active workplace scheme, and any safeguarded benefits or guarantees, which are rarely worth giving up.
Sources
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General information, not financial advice. Tax rules and figures can change; check the current position on gov.uk before acting.