Hargreaves Lansdown

SIPP charges & interest rates

Low costs mean more of your money working for you. The Vantage SIPP could help you make more of your pension, giving you more money for your retirement.

  • FREE to set up and low cost to run
  • Exclusive super-low charge funds
  • Regular Fixed Rate Cash Offers

Set-up: No charge
Contributions: No charge
Transfers in:* No charge
Inactivity charge: No charge

* Before you transfer please ensure you will not lose any valuable guarantees or incur excessive exit fees.

Annual management charges

Funds

This charge applies to each Vantage account separately. It is tiered within bands: 0.45% per annum on the first £250,000 of funds; 0.25% for funds between £250,000 and £1m; 0.1% for funds between £1m and £2m, and no charge on the value of funds over £2m.
Amount Charge
£0 - £250,000 0.45%
£250,000 to £1m 0.25%
£1m to £2m 0.10%
Over £2m 0.00%
Cash No charge
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. Hargreaves Lansdown receives commission from some fund groups for arranging and administering your investments. Details are available in our key features document, the trading pages of our website and on our contract notes.

Dealing charges (per deal)

Fund dealing

Online, phone and post dealing
(unit trusts and OEICs)
No charge
We also offer up to a 5.5% saving on the initial charges made by the fund manager

Share dealing

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
Deals within a Junior SIPP £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 Vantage accounts held under the same client number. The £5.95 dealing rate in the Junior SIPP is achieved via a cash rebate at the end of the month, offsetting the difference between the dealing rate that was applied and £5.95.
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.
Equity regular savings £1.50 per stock per month
Available on FTSE 350 shares and selected investment trusts subject to a minimum of £50 per stock per month.

Fund and share dealing

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 reach £10 per holding.

View overseas dealing charges

Miscellaneous charges

Made in addition to the charges laid out above, where applicable.

Cash transfer from other Vantage account: No charge
Limit orders (placed online): No charge
Limit orders (placed by telephone): £10 per deal
Excess fund repayment: £75 + VAT
Pension splitting on divorce: £295 + VAT
Triviality payment: £75 + VAT if the account is closed within 12 months of being opened, £25 + VAT thereafter
Transfer out as cash: £25
Transfer out as stock: £25 per holding
Transfer out to overseas scheme:
(In addition to cash or stock transfer out fee)
£250 (£295 from 1 June 2015)
Standard account closure fee:
(Does not apply if funds are transferred to another Hargreaves Lansdown account)
£25 + VAT
Early account closure fee:
(This fee applies instead of the standard account closure fee when funds are paid to you as income and the SIPP account has been open for less than 12 months. Not applicable to pension transfers out or clients who held Flexible Drawdown in the Vantage SIPP pre April 2015).
£295 + VAT
CHAPS payment: £25
Automated sales to cover charges:
(Selling fund units or shares to meet fees)
£1.50 per deal
Arranging death benefits: £295 + VAT
6 monthly statement and valuation (paperless): No charge
6 monthly statement and valuation (paper): £10 + VAT per statement & valuation

How we collect fees

We make it as easy as possible by collecting fees automatically from your account.

Charges will first be collected from cash in your SIPP. The "Suggested Minimum Cash Balance" gives you an idea of how much you should hold to meet future fees. It is just a suggestion and you can ignore it if you wish.

If you have no cash in your SIPP, we will collect fees from loyalty bonuses received on units purchased before 1 April 2014, and then from any cash in your Vantage Fund & Share Account.

As a final resort, we will sell holdings in your SIPP to cover the amount owed and restore the minimum cash balance. There will be a small charge of £1.50 per deal. We will normally sell units of the largest fund holding first. If, for whatever reason, we are unable to sell units of the largest fund holding, we will sell units in the next largest fund holding, and if you don't hold funds, we may sell part of other holdings.

To avoid having investments automatically sold, you can easily top up the cash balance of your SIPP with your debit card (subject to the pension allowances) or add money to a Vantage Fund & Share Account.

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 on Takeovers & Mergers)
£1 on UK share deals over £10,000

When buying overseas-listed investments, additional charges may apply in that country.

Fixed Rate Cash Offers

Fixed rate cash offers are sometimes available in the Vantage SIPP. You can earn a competitive interest rate on the cash in your SIPP, provided you leave the money in cash for three or six months. No offers are currently available, but to find out about any future offers please register your interest.

Standard variable interest

If you want to have some cash in your SIPP ready to invest, you can earn tax-free interest at our variable rate. The higher the cash balance, the higher the interest you earn.

Base rate since 05/03/2009: 0.5%. All rates are variable unless stated otherwise.

Account Balance Gross % for this tier only AER % for this tier only
£100,000 + 0.20 0.20
£25,000 - £99,999.99 0.10 0.10
£5,000 - £24,999.99 0.05 0.05
£0 - £4,999.99 0.05 0.05

† Note: Interest is tiered within bands so you will currently receive 0.05% (gross) on the first £4,999.99, 0.05% on the amount above £5,000 and below £24,999.99 and 0.10% on the amount above £25,000 and below £99,999.99, and 0.20% on balances over £100,000. These tiered rates should not be directly compared to the AER, gross or net interest rates of accounts which are not tiered or have a different tier structure.

Drawdown

Flexible drawdown Capped drawdown
Starting drawdown: No charge No longer available to new investors
Each GAD calculation: N/A £75 +VAT
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.

Annuities

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 our Terms & Conditions.

Important information

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.


96% of clients would recommend the Vantage SIPP to friends and family*

Start a SIPP

Transfer now

Top up

*HL survey: 252 respondents, November 2014

Important information

A SIPP is a type of pension for people happy to make their own investment decisions. Investments go down in value as well as up so you could get back less than you invest. The rules mentioned are those currently applying and could change in the future. You can normally only access the money from age 55. Tax reliefs depend on your circumstances. This website is not personal advice, if you are unsure an investment is right for you, please seek advice.

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