AJ Bell (Sipp)
A strong all-rounder, with options for those saving smaller amounts
AJ Bell is another popular choice among pension investors, offering low platform fees along with a broad choice of ready-made portfolios, as well as thousands of shares and funds and 450 investment trusts.
You’ll pay platform fees of 0.25pc on the value of investments in any funds you have up to £250,000, but this falls to 0.1pc on the next £250,000. There is no charge on investments in funds you have more than £500,000.
Any funds you own in shares held in AJ Bell’s Sipp are subject to a fee of 0.25pc up to a maximum of £10 per month.
Fund fees vary – they start at 0.31pc for AJ Bell’s own funds and 0.51pc for ready-made portfolios.
You can open an AJ Bell Sipp with a lump sum of £500 or monthly contributions of at least £25.
Bestinvest
Offers low platform fees and good choice of investment funds
Bestinvest is run by wealth management firm Evelyn Partners.
The platform fee you will pay depends on the value of your portfolio; under £500,001 you will pay 0.2pc, on amounts between £500,001 and £1m you will pay 0.1pc and on amounts more than £1m you will pay no platform fee.
Fund fees vary greatly – you’ll pay between 0.73pc to 1.5pc for one of Bestinvest’s “Expert” funds, but as little as 0.29pc for one of its “Smart” funds.
Interactive Investor
Cost-effective for large pension pots
Interactive Investor – or ii – charges a low monthly fee of just £12.99 a month for its Sipp, or £156 a year. This fee applies regardless of how much you have in your Sipp, making it a good option for those with larger personal pensions.
If your pension is worth under £50,000, you can sign up for ii’s Pension Essentials plan, which costs just £5.99 per month.
Fund fees range from as little as 0.18pc to 0.84pc. You can choose from a range of ii’s own funds and portfolios, or buy exchange-traded funds (ETFs) or shares of your own choosing.