What a SIPP offers
A self-invested personal pension lets you choose and manage your own pension investments, with full pension tax relief. The best SIPP for you depends on how hands-on you want to be and what you want to invest in — costs and investment range vary widely between providers.
1. Low-cost (platform) SIPPs
Online SIPPs offering funds, shares and ETFs at low charges. Best for DIY investors who want control and low costs without needing exotic investments — the most popular choice for most people.
2. Full SIPPs
Allow a wider range including commercial property and more specialist assets. Best for sophisticated investors or business owners (e.g. holding their premises in a pension) — higher charges reflect the flexibility.
3. SIPPs for consolidating old pensions
A SIPP is a common home for combining scattered pension pots into one managed place. Best for those tidying up multiple pensions — but check for valuable guarantees before transferring (see our pension consolidation guide).
4. SIPPs for drawdown in retirement
SIPPs support flexible drawdown, letting you take income while staying invested. Best for those approaching or in retirement who want flexible access — see our drawdown options guide.
Choosing the right SIPP
- DIY, low cost: a platform SIPP
- Specialist assets / property: a full SIPP
- Consolidating pots: check guarantees first
- Near retirement: one with strong drawdown features
How to find the best SIPP
A qualified adviser can recommend the right SIPP and investment approach for your goals, or confirm whether a simpler personal pension suits you better. Find a pension adviser through Nesto — free, no obligation.
Frequently asked questions
What's the difference between a SIPP and a personal pension?
A SIPP offers more investment choice and control; a standard personal pension offers ready-made funds and simplicity.
Who is a SIPP best for?
Confident investors who want to choose their own investments. Low-cost SIPPs suit DIY investors; full SIPPs suit those wanting specialist assets.
Can I hold commercial property in a SIPP?
Yes — in a full SIPP. Business owners sometimes hold their premises this way, though it's specialist and needs advice.
Can I move old pensions into a SIPP?
Often yes, but check for valuable guarantees or exit fees first — some older pensions are best left in place.
Do SIPPs get tax relief?
Yes — the same pension tax relief as any pension, making them a tax-efficient way to invest for retirement.