SIPP charges & interest rates
There are no charges when you buy and sell funds, and you will receive initial savings of up to 5.5% when you invest. There is a tiered annual charge to hold funds as outlined below. See below for our full list of fund charges.
To see how costs and charges affect the value of your pension over time, download your illustration below. It shows the HL platform fee and the fund charges, including transactional costs, for your default investment and our ABC fund range. It provides illustrations of what your pension might be worth, with and without charges.
Hargreaves Lansdown’s Independent Governance Committee publish further details of the scheme charges and assess whether the HL Workplace pension represents value for money.
* Before you transfer please ensure you will not lose any valuable guarantees or incur excessive exit fees.
Annual management charges
This charge applies to each HL account separately. For the SIPP, it is tiered within bands as indicated opposite.
|£0 to £250,000||0.45%|
|£250,000 to £1m||0.25%|
|£1m to £2m||0.10%|
|Shares, investment trusts, ETFs, gilts & bonds:||0.45% a year (Capped at £200 a year across all holdings in the account)|
|Note: The investments you choose may have their own initial and annual charges and a bid offer spread.|
Dealing charges (per deal)
|Online, phone and post dealing
(unit trusts and OEICs)
We also offer up to a 5.5% saving on the initial charges made by the fund manager
|Online and mobile app
(shares, exchange traded funds
and investment trusts)
|Deals previous month||Dealing charge|
|0 - 9 deals||£11.95|
|10 - 19 deals||£8.95|
|20 or more deals||£5.95|
|The online share dealing charge is determined by the number of deals you placed in the previous calendar month. The tariff you pay in August, for example, will depend on the number of share deals you place in July, and we count deals placed across all the HL accounts held under the same client number.|
|Phone and post dealing||1% (£20 minimum, £50 maximum)
Please note: residual stocks, bonds, gilts, VCTs and PIBS can only be dealt over the phone.
|Reinvestment of income||1% (£1 minimum, £10 maximum)
In each account, if you choose automatic reinvestment, any dividends you receive will be reinvested once they exceed £10 per holding.
|Equity regular savings||£1.50 per stock per month
Available on FTSE 350 shares and selected investment trusts subject to a minimum of £25 per stock per month.
Made in addition to the charges laid out above, where applicable.
|Cash transfer from other HL account||No charge|
|Transfer out as cash:||No charge|
|Transfer out as stock:||No charge|
|Closing your account:||No charge||Quarterly statement and valuation (paperless):||No charge|
|Quarterly statement and valuation (paper):||No charge|
We make it as easy as possible by collecting fees automatically from your account. If we cannot collect fees from cash held on your account we write to you explaining your options. If you fail to respond we may sell investments to cover your outstanding fees in which case separate fees described in our terms and conditions may apply.
Other charges may apply in specific circumstances - see the Terms & Conditions for details.
Government taxes and levies (per deal)
|UK Stamp duty||0.5% on purchases of UK shares (rounded up to the nearest £5 for residual shares)|
|PTM (Panel of Takeovers & Mergers)||£1 on UK share deals over £10,000|
When buying overseas-listed investments, additional charges may apply in that country.
Standard variable interest
If you want to have some cash in your SIPP ready to invest, you can earn tax-free interest at Hargreaves Lansdown's variable rate. The higher the cash balance, the higher the interest you earn.
|Flexible drawdown||Capped drawdown|
|Starting drawdown:||No charge||No longer available to new investors|
|Regular income payments:||No charge||No charge|
|Alter payment amount/frequency:||No charge||No charge|
|One-off payments:||No charge*||No charge|
*A drawdown account closure fee applies instead of the standard account closure fee (£25 + VAT) when funds are withdrawn and the drawdown account has been open for less than 12 months. Not applicable to transfers out or clients who held Flexible Drawdown accounts in the Vantage SIPP which were set up before April 2015, when the standard account closure fee will apply.
|Annuity quotation:||No charge|
|Annuity purchase:||No transfer-out charge if purchased via Hargreaves Lansdown, otherwise £150 + VAT. An annuity purchase via Hargreaves Lansdown will generate a commission or fee payment, which will be shown on your annuity quotation.|
Uncrystallised Funds Pension Lump Sum (UFPLS)
|Taking an UFPLS||No charge**|
**A SIPP account closure fee applies instead of the standard account closure fee (£25 + VAT) when funds are withdrawn and the SIPP account has been open for less than 12 months.
For full cost details see Terms & Conditions.
The above fees exclude the cost of any advice you may require. If you require advice, you would agree this cost separately with an adviser.
If you have more than one SIPP account (for example, an account from which you have not taken an income and an account in drawdown), any charges applied to those accounts will be treated separately.
Overseas share dealing foreign exchange rates
|Overseas shares covered by the Hargreaves Lansdown Overseas Share Dealing Service are traded at our standard rates (above) and can be traded online, by phone or post. They will be dealt at the overseas market price and converted into sterling by a UK-based market maker. The foreign exchange rate used will be based on the prevailing interbank exchange rate to which the market maker will add an additional spread, dependent on the size of the deal.|
|Value of trade||Additional spread|
|£0 - £9,999||1.70%|
|£10,000 - £24,999||1.50%|
|£25,000 - £49,999||1.25%|
|£50,000 - £99,999||1.00%|
|£100,000 - £199,999||0.75%|
|£200,000 - £349,999||0.50%|
You can't normally access the money in a SIPP until at least age 55 (57 from 2028). Please remember taxation depends on your circumstances and tax rules can change over time. Investments can go down in value as well as up so you could get back less than you invest. This website is not personal advice; if you are unsure of an investment's suitability for your circumstances you should seek advice. Correct for 2021/2022 tax year.
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