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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
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.
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
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
Account closure fee:
(This fee applies when transferring your account to another provider. Not applicable when transferring between a Vantage SIPP, Group SIPP or Drawdown account)
£25 + 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
Corporate actions:
(Where we are required to seek
and act on your instructions)
£10 + VAT per instruction

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

We regularly offer our clients fixed-rate deals. 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. To find out about future offers, please register your interest.

Term Opened for subscription Closes for subscription No. of days interest Gross
(p.a.) %
AER
%
3 months
(starting 15/11/2013, maturing 14/02/2014)
Offer now closed
25/10/2013 13/11/2013 91 0.25 0.2502
6 months
(starting 15/11/2013, maturing 16/05/2014)
Offer now closed
25/10/2013 13/11/2013 182 0.40 0.4004

We ask our clients to maintain a minimum cash balance of £10,000 in their account to cover any short term trading needs. Cash over and above this amount can be switched into our fixed rate offers. The minimum investment is £1,000.

Please remember, you won't be able to invest the money or use it to provide retirement benefits for the term you choose, so please only invest money you are certain you won't need in the interim. Please don't choose a Fixed Rate Cash Offer if you are planning to retire during the term.

You'll earn interest at our standard variable rate until the start of the fixed offer term. The interest from these fixed rate offers will be credited, and the capital available to reinvest, on the date of maturity - at which stage you'll start to earn interest at our normal variable rates on any uninvested cash.

How to apply for a Fixed Rate Cash Offer

Before investing please read the Key Features of the Fixed Rate Cash Offer.

To invest existing money, log in to your account and select your Vantage SIPP, click on the Cash tab, select the Fixed Rates option and follow the on-screen instructions.

If you wish to invest new money, please start a SIPP or top up your SIPP online and select your chosen Fixed Rate Cash Offer as your investment choice.

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 Net % for this tier only AER % for this tier only
£50,000 + 0.10 0.08 0.10
£7,000 - £49,999.99 0.05 0.04 0.05
£1,000 - £6,999.99 0.05 0.04 0.05
£0 - £999.99 0.00 0.00 0.00

† Note: Interest is tiered within bands so you will currently receive 0% on the first £999.99, 0.05% (gross) on the amount above £1,000 and below £49,999.99 and 0.10% on balances above £50,000. 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.

If you hold cash balances in more than one Vantage account (i.e. a Vantage Stocks & Shares NISA and a Vantage Fund & Share Account) these will be considered separately when calculating the tiered interest. Interest is not paid on balances held within your income or Loyalty Bonus account.

Annuities

Annuity quotation: No charge
Annuity purchase: No transfer-out charge if purchased via Hargreaves Lansdown, otherwise £150 + VAT. Annuity purchase will generate a commission or fee payment to Hargreaves Lansdown, which will be shown on your annuity quotation.

Income drawdown

Income
drawdown
Flexible drawdown
Starting/transferring to drawdown: No charge £295 +VAT
Each GAD calculation: £75 +VAT N/A
Regular income payments: No charge No charge
Alter payment amount/frequency: £10 +VAT £10 +VAT
One-off payments: £25 +VAT £25 +VAT

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.


98.3% of clients would recommend the Vantage SIPP to friends and family*

Start a SIPP Start a SIPP

Transfer to a SIPP Transfer now

Top up a SIPP Top up

*HL survey: 303 respondents, August 2013

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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