Hargreaves Lansdown SIPP: Charges and How It Works
Quick answer
The Hargreaves Lansdown SIPP is the UK largest self-invested personal pension. From 1 March 2026 the annual charge is 0.35% on funds, capped at GBP 150 a year on shares, with fund deals at GBP 1.95 and share deals at GBP 6.95. It is feature-rich but still pricier than the cheapest fund rivals.
Hargreaves Lansdown SIPP charges (from 1 March 2026)
| Feature | Detail |
|---|---|
| Account type | Self-invested personal pension (defined contribution) |
| Annual charge (funds) | 0.35% on the first GBP 250,000, tiering down on larger pots |
| Annual charge (shares, ETFs, investment trusts) | 0.35% but capped at GBP 150 a year in a SIPP |
| Fund dealing | GBP 1.95 online, free via monthly regular investing |
| Share dealing | GBP 6.95 online |
| Ready-made option | Yes - the HL Ready-Made Pension Plan |
| Access age | 55, rising to 57 on 6 April 2028 |
| Protection | FCA-regulated; FSCS up to GBP 85,000 per person if the provider fails (the investment cap, not the GBP 120,000 deposit cap) |
Step by step
- 1
Check the fee on your pot size
Work out 0.35% of your fund holdings. If you mainly hold shares, ETFs or investment trusts, the GBP 150 a year cap makes a larger share-based pot cheaper to run.
- 2
Weigh the service against the cost
HL is one of the more expensive platforms on funds. Decide whether its research, app and customer service are worth paying more than a budget rival for.
- 3
Decide ready-made or self-select
Use the HL Ready-Made Pension Plan for simplicity, or pick your own funds and shares.
- 4
Transfer in old pensions
Defined contribution pots can usually be consolidated in - but check for exit fees and any guarantees you would give up first.
A SIPP gives you the tax relief of a pension with the freedom to choose the investments yourself. Hargreaves Lansdown is the biggest name in the UK market, and for years the criticism was the price. The March 2026 fee cut changed the headline: the annual fund charge dropped from 0.45% to 0.35%, share dealing fell to GBP 6.95, and holding shares is now capped at GBP 150 a year in a SIPP.
That makes HL more competitive than it was, but not the cheapest. On funds a platform like AJ Bell (0.25%) or Vanguard (0.15%) still undercuts it. What you pay the difference for is the service: deep research, a polished app, and phone support that budget platforms do not match. If you hold mostly shares and use the extras, the gap narrows; if you buy and hold a couple of trackers, you are paying for tools you may not need.
For the wider decision, see SIPP versus workplace pension, ISA versus pension, and our best UK investment platform comparison, plus the AJ Bell SIPP guide for the cheaper rival. To turn the pot into an 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 Hargreaves Lansdown SIPP any good?
It is the largest and one of the most established UK SIPPs, with strong research and service. After the March 2026 cut its 0.35% fund charge and GBP 150 share cap are more competitive, though budget platforms are still cheaper on funds. It suits investors who value the service and hold mostly shares.
How does Hargreaves Lansdown compare with AJ Bell?
On funds, AJ Bell custody is 0.25% against HL 0.35%, so AJ Bell is cheaper for fund holders. On shares both cap the charge (HL GBP 150, AJ Bell GBP 120 in a SIPP). HL offers a larger research and service package; the right choice depends on your holdings and how much you use the extras.
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, provided you were a scheme member then and have the earnings to support it.
Can I transfer my pension to Hargreaves Lansdown?
Yes, defined contribution pensions can usually be transferred and consolidated. Check first for exit charges, any employer contribution you would lose on an active workplace scheme, and any safeguarded benefits or guarantees, which are rarely worth giving up.
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General information, not financial advice. Tax rules and figures can change; check the current position on gov.uk before acting.