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📈 Transfer to a SIPP

Transfer Your Pension to a SIPP More Control, More Choice

A Self-Invested Personal Pension (SIPP) gives you much greater control over your investments than a standard workplace pension. Transferring to a SIPP could mean lower fees, better investment options, and more flexibility in retirement.

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What Is a SIPP Pension Transfer?

A SIPP (Self-Invested Personal Pension) transfer involves moving existing pension savings into a SIPP, which gives you full control over how your retirement money is invested. SIPPs are the most flexible type of pension wrapper available in the UK, offering access to thousands of funds, shares, ETFs, investment trusts, and even commercial property within a tax-efficient pension structure.

SIPPs have become the most popular destination for pension transfers because they combine low costs, wide investment choice, and full flexi-access drawdown capability. Whether you are consolidating old workplace pensions, transferring a personal pension for lower fees, or moving a DB pension (with mandatory advice), a SIPP provides the flexibility that older pension arrangements often lack.

Choosing the right SIPP and managing the transfer correctly are important. Key considerations include:

  • Platform fees – SIPP platforms charge differently. Percentage-based platforms (0.15% to 0.45%) suit smaller pots, while flat-fee platforms (£5 to £12 per month) suit larger pots. Choosing the right fee structure can save hundreds per year.
  • Investment options – SIPPs offer access to UK and global funds, ETFs, investment trusts, individual shares, bonds, and sometimes commercial property. The range varies by provider.
  • Drawdown capability – all SIPPs offer flexi-access drawdown, allowing you to take income as you choose from age 55 (57 from 2028). You can take 25% tax-free and draw the rest as needed.
  • Transfer process – SIPP providers handle the transfer paperwork. You complete an application and they contact your old providers. Most transfers complete in 2 to 6 weeks.
  • Full vs basic SIPP – full SIPPs allow investments in commercial property and other alternative assets but have higher costs. Basic or platform SIPPs cover funds, shares, and ETFs at lower cost.
  • Tax efficiency – your pension remains in a tax-efficient wrapper. Contributions get tax relief, investments grow free of income and capital gains tax, and 25% of your pot can be taken tax-free.
Key fact: According to the Lang Cat, the average annual charge across the 10 largest SIPP platforms is approximately 0.35% for a £100,000 pot. This compares favourably to many older personal pensions that charge 1% to 2%. On a £100,000 pot, the difference of 1% per year equates to roughly £22,000 over 20 years (assuming 5% growth).
SIPP Comparison

SIPP vs Workplace Pension vs SSAS

Compare the three main pension wrappers to understand where a SIPP fits.

FeatureSIPPWorkplace PensionSSAS
Investment choiceThousands of funds, shares, ETFsLimited scheme fundsVery wide, inc. property
Cost0.15%–0.45% typicalVaries, 0.3%–1%+Higher setup and running costs
Employer contributionsNo employer matchEmployer contributesEmployer can contribute
Drawdown flexibilityFull flexi-accessMay need to transferFull flexibility
Best forIndividuals wanting controlEmployed people with employer matchBusiness owners, directors
Self-managed optionYes, full DIY investingNoTrustee-managed
Important: While SIPPs offer flexibility, they also require engagement. If you transfer to a SIPP but leave the money in cash or make poor investment decisions, you could end up worse off than in your old pension. If you are not confident managing investments, consider using a managed SIPP service or ongoing financial advice.
Who Is It For?

Who Benefits from a SIPP Transfer?

A SIPP transfer can benefit a wide range of people, but it is especially valuable in these situations.

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Paying High Fees Elsewhere

Your current pension charges over 1% per year. Transferring to a low-cost SIPP platform could save you hundreds or thousands annually and significantly boost your retirement pot.

Calculate the long-term impact of fee savings
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Want Investment Control

You want to choose your own investments rather than being limited to a small range of provider funds. A SIPP gives you access to thousands of investment options.

Ensure your investment knowledge matches your ambitions
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Consolidating Multiple Pots

You have several pensions from different sources and want everything in one place. A SIPP is the ideal consolidation vehicle with its wide investment range and low costs.

Review each pension for guaranteed benefits first
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Planning for Drawdown

Your current pension does not offer flexi-access drawdown. Transferring to a SIPP ensures you can take income flexibly in retirement under pension freedom rules.

Compare drawdown charges across SIPP providers
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Business Owner or Director

You want a pension that can hold commercial property or other alternative investments. A full SIPP offers this capability alongside standard fund investments.

Compare full SIPP costs against basic SIPP platforms
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Want to Manage Your Own Retirement

You are financially engaged and want full control over your retirement savings, investment strategy, and drawdown approach. A SIPP puts you in the driver’s seat.

Consider whether you need ongoing advice alongside your SIPP

Thinking of transferring to a SIPP?

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Costs Explained

How Much Does a SIPP Transfer Cost?

SIPP costs are generally lower than older pension arrangements. Here is what to expect.

£0–£500
Transfer & Setup
Most SIPP providers do not charge for account setup or incoming transfers. Some adviser-led SIPPs may have a setup fee. If you are transferring a DB pension, the mandatory advice fee (£1,500 to £5,000) is separate from the SIPP costs.
0.15%–0.45%/year
Ongoing Platform Fee
The annual platform fee for holding your pension in a SIPP. This is typically much lower than older pension charges. Some platforms charge a flat fee instead (e.g. £5 to £12 per month), which can be cheaper for larger pots.
Worth knowing: Through PensionHelper, our matching service is free with no obligation. SIPP platforms are competitively priced, and the fee savings from transferring older, more expensive pensions can be substantial. Your adviser can recommend the most cost-effective SIPP for your pot size.
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Real Reviews

What Our Customers Say

Adam H.
Adam H.
London • SIPP Transfer
★★★★★
“Full control at last”

Transferred three old pensions to a SIPP and now manage my own investments. My portfolio is properly diversified across global markets and my total charges went from 1.3% to 0.3%. The difference over 15 years will be enormous.

Denise M.
Denise M.
Warwickshire • SIPP Transfer
★★★★★
“Drawdown made easy”

My old personal pension did not offer drawdown – I would have had to buy an annuity. Transferring to a SIPP means I can take income flexibly, starting with my tax-free lump sum and then managing withdrawals to stay in a low tax band.

Chris B.
Chris B.
Manchester • SIPP Transfer
★★★★★
“Consolidation done right”

Had five pensions across four providers. The adviser checked each for guaranteed benefits (one had a GAR worth keeping), then consolidated the other four into a single SIPP. Fees halved and management simplified.

Emma W.
Emma W.
Brighton • SIPP Transfer
★★★★★
“Platform choice explained”

I was overwhelmed by the choice of SIPP platforms. The adviser compared six options for my pot size and recommended one with the best combination of low fees and investment range. Saved me hours of research.

Robert F.
Robert F.
Edinburgh • SIPP Transfer
★★★★★
“Property in my pension”

As a business owner, I wanted to hold my office premises inside my pension. The adviser set up a full SIPP and guided me through the process of purchasing commercial property within the pension wrapper. Tax-efficient brilliance.

Sandra K.
Sandra K.
Cardiff • SIPP Transfer
★★★★★
“Managed SIPP perfect for me”

I did not want to manage investments myself but wanted SIPP flexibility. The adviser recommended a managed SIPP where they handle the investments. Best of both worlds – low costs and professional management.

Learn More

Related Guides

Explore our guides for more information on SIPP transfers.

Pension Consolidation

Combining pensions into a SIPP

Private Pension Transfers

Moving personal pensions to a SIPP

Employer Pension Transfers

Workplace pension to SIPP

Pension Drawdown

Drawing income from your SIPP

DB to SIPP Transfers

Transferring DB pensions to a SIPP

Pension Transfer Guide

Complete guide to pension transfers
Got Questions?

SIPP Transfer: Frequently Asked Questions

A Self-Invested Personal Pension (SIPP) is a pension wrapper that gives you control over your investments. You can choose from thousands of funds, ETFs, investment trusts, and individual shares. SIPPs offer full flexi-access drawdown and are typically lower cost than older pension arrangements.
Most pensions can be transferred to a SIPP, including workplace pensions, personal pensions, stakeholder pensions, and other SIPPs. DB pensions can also be transferred but require mandatory regulated advice if worth over £30,000. You cannot transfer a pension you are currently paying into with your employer.
SIPP platform fees typically range from 0.15% to 0.45% per year. Some platforms charge flat monthly fees (£5 to £12). Fund charges are additional (typically 0.05% to 0.8% depending on the fund). Total costs are usually significantly lower than older pension arrangements.
It depends on your pot size and needs. For larger pots, flat-fee platforms like interactive investor are cost-effective. For smaller pots, percentage-based platforms like Vanguard or Fidelity work well. AJ Bell and Hargreaves Lansdown offer good all-round services. An adviser can recommend the best fit.
Most SIPP transfers take 2 to 6 weeks for DC pensions. Some older providers are slower. DB pension transfers take longer (3 to 6 months) due to mandatory advice. Electronic transfers between modern platforms can be much faster, sometimes completing within days.
Basic SIPPs with ready-made portfolios or managed options are suitable for less experienced investors. If you want full DIY investing, you need reasonable investment knowledge. Many SIPP providers offer guidance, model portfolios, and investment tools to help beginners.
Full SIPPs can hold commercial property (offices, shops, warehouses, factories) but not residential property. You can buy property outright or jointly with others. The rent paid to the SIPP is tax-free, making this attractive for business owners who want to hold their business premises in their pension.
A SIPP is a type of personal pension with wider investment options. Standard personal pensions limit you to the provider’s own range of funds. A SIPP gives access to thousands of funds, shares, ETFs, and trusts from across the market. Both offer the same tax benefits.
No, you can open and manage a SIPP yourself. However, an adviser can help you choose the right platform, build an appropriate investment strategy, and plan your drawdown. For DB pension transfers into a SIPP, regulated advice is mandatory.
Yes. Many people have both a workplace pension (to benefit from employer contributions) and a SIPP (for consolidating old pensions or making additional personal contributions). There is no limit on the number of pensions you can hold, though total contributions are limited by the annual allowance.
SIPP contributions receive the same tax relief as any other pension: basic rate (20%) is added automatically by the provider. Higher (40%) and additional (45%) rate taxpayers claim the extra relief through their tax return. The annual allowance is £60,000 for most people.
Flexi-access drawdown allows you to take any amount from your SIPP at any time from age 55 (57 from 2028). You can take 25% of your pot tax-free and the rest is taxed as income. You can take regular or ad-hoc withdrawals and vary the amount as needed.
SIPP investments are held separately from the platform provider and are protected by the FSCS up to £85,000 per provider. If the SIPP provider fails, your investments are normally transferred to another provider. The underlying investments themselves carry market risk.
Yes, SIPP-to-SIPP transfers are straightforward. If you find a better platform with lower fees or more suitable features, you can transfer. Most SIPP providers accept transfers from other SIPPs and handle the process for you. Some providers can even transfer investments in-specie (without selling).
Your SIPP can be passed to nominated beneficiaries. If you die before 75, the entire pot can be inherited tax-free. If you die after 75, beneficiaries pay income tax on withdrawals at their marginal rate. You should complete an expression of wishes form with your SIPP provider.

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