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Self-Invested Personal Pension hero

Self-Invested Personal Pension

What is a SIPP?

A Self-Invested Personal Pension (SIPP) is a type of account that allows you to take charge of your retirement savings. You have the freedom to invest exactly where you want to and control how much money goes in and when.

You have all the same tax advantages as a traditional pension, and the government will still give you a boost of up to 45% (or 48% if you're a Scottish rate tax payer) on top of anything you pay in as tax relief.

You can even use a SIPP to combine all your old pensions into one easy-to-use online account. And take money out from age 55 (rising to 57 from 2028).

Pension and tax rules can change and any benefits will depend on your circumstances.

Learn more about SIPPs

This video explains the features and rules of a SIPP (Self-Invested Personal Pension), including tax benefits and pension income options.

Join over 500,000 clients already using the HL SIPP

  • Flexible payments - Monthly direct debits from as little as £25 a month, with the ability to pause or cancel payments if you ever need to.
  • Invest where and how you want to - You can pick your own investments, select one of our ready-made portfolios, or pay a financial adviser to choose investments for you.
  • Freedom at retirement - With the HL SIPP, you're free to choose from all the main retirement options.


A new investment solution which will make starting a pension even easier.

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SIPP charges

The HL SIPP is free to set up and low cost to run. Our yearly charge for holding investments is never more than 0.45%. Some investments will have their own annual charges, so please check these first before you invest.

It’s free to buy and sell funds. Other dealing charges depend on the type of investment and how often you trade.

View SIPP charges

How to top up your SIPP

Make a one-off lump sum payment from £100 or more. Please read the Key Features (including contribution checklist) first, then:

1. Log in to your account online or through the HL app

2. Select your SIPP account and choose 'Add money'

3. Follow the debit card instructions

Top up online now View our charges



Don't know where to invest your pension? We’ve got a new investment solution which could help.

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Add a little, build a lot

The power of regular investing

Invest from as little as £25 a month by direct debit.

  • It's good discipline - it stops knee jerk decisions, and removes the temptation to try and time the market.
  • You'll benefit from 'pound-cost averaging' - investing automatically helps smooth out the bumps in the market, spreading your money across different market conditions.
  • Share buying is free - there’s no fee if you buy shares through direct debit, compared to £11.95 for lump sums.

How to set up a direct debit

How much should I invest?

£ a month


Your results

About this calculator: This calculator is an example - it doesn’t show what your investments will actually be worth. And doesn't include any pension tax relief that you may receive. Investing is best considered for the long term (5 years or more). Remember investments can go down as well as up in value so you could get back less than you put in.

To make these calculations, we've included an annual charge of 1.25%, but this could be lower or higher, depending on the investments you hold. We haven’t factored in inflation. These results are based on a growth rate of 5%, unless you have adjusted the growth rate in 'Additional options'.

Pension contributions

Most people can invest up to £60,000 into their pension each tax year. This can vary depending on your earnings. Even if you've accessed your pension, future contributions may be possible.

More on contributions

Transfer a pension

Moving old pensions to your HL SIPP can help you to take control of your retirement savings.

How to transfer

Investment ideas

Learn about different strategies for investing a pension, plus fund ideas for income and growth.

SIPP investment ideas

Employer contributions

Make an employer contribution to your HL SIPP on behalf of your own company. Or add money to an employee's HL SIPP.

Find out more

Withdrawing money

You can usually access your pension from age 55 (rising to 57 from 2028), and choose between guaranteed and flexible income options.

Your retirement options

Two simple ways to open a SIPP

Start with a bank payment

Set up monthly payments from as little as £25, or make one-off payments of £100 or more.

You can change your pension contributions whenever you like.

Open a SIPP

Transfer your old pensions

Transferring pensions from another provider, including old workplace pensions, can help you to take control of your retirement savings.

The fastest way to transfer is online.

More on transferring

Photo of client Phillip
The HL SIPP allows me to buy and sell investments with ease, particularly through the app which is excellent. I made sure that my pensions weren’t scattered around with different providers, and I consolidated them into one account for convenience and easy management. Keeping things simple and together, I believe, has enabled me to make better investment decisions.

Read Phillip's story

How much can you pay into a SIPP?

If you're a UK resident under 75, you can usually pay in as much as you earn each year, up to £60,000 across all your pensions, and get tax relief. You may be able to pay in more or less than this amount if you have unused allowance from previous tax years, you're a high earner or have flexibly accessed your pension.

More about paying into a pension

What can I invest in with a SIPP?

With a SIPP, you’re in control of how and where you invest.

To build your own portfolio, choose from over 2,500 funds, UK and overseas shares, investment trusts and more. Or, you can choose from a range of ready-made options where our team of experts will take care of the day-to-day investment decisions for you.

SIPP investment ideas

Switch your pension on

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We’re a financially secure FTSE-listed company, authorised by the Financial Conduct Authority. And have won over 200 awards.

Expert knowledge and guidance

Get the latest investment news, research and insight. Plus tools to help you make decisions with confidence.

Ongoing support

Help from our UK-based client support team. Or personal financial advice from our highly qualified experts.

Taking money from a SIPP

Money in your pension is usually locked away until you’re 55 (57 from 2028). But any time after that, you can start to withdraw money, even if you’re still working.

Use your SIPP to buy a guaranteed income for life, or keep it invested and make withdrawals as and when you need to. Plus, get up to 25% tax-free (all other income withdrawals are taxable).

Your retirement options


The HL app

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SIPP Account FAQs

View all SIPP FAQs


  • You can set up an HL SIPP from as little as £25 a month, or by making a one-off contribution of £100 or more. All you need to hand is your National Insurance number and either your bank details or debit card.

    You can also open an HL SIPP by transferring a pension. The fastest way to transfer is online. You'll need your pension name and type (e.g. Aviva personal pension), policy number and pension value (this doesn't have to be exact) to get started. You should be able to find these details on your annual statement or can ask your current provider when you’re checking what exit fees apply or if you’ll lose any valuable benefits.

View all SIPP FAQs

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Best Online Stockbroker 22/23
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The Personal Finance Awards 22/23

Help and support

If you have any questions about the HL SIPP, you can speak to one of our UK-based client support experts.

Call us on 0117 980 9926

Read our FAQs

Email us