SIPP annual fees set to increase over next year

clock •

Annual SIPP fees are likely to rise over the next twelve months as providers struggle to deal with low interest rates.

Defaqto research suggests margins have fallen so low, in response to growing competition in the SIPP market, that providers no longer have room for further price cutting. Annual admin fees have barely changed in recent years, with average charges for a £100,000 SIPP standing at £416.73 in March 2006 compared to £414.25 in March 2009. Defaqto believes annual charges may start to rise in 2009/10 as SIPP providers simply cannot afford to keep prices so low. Low interest rates following the financial crisis could also lead to a significant rise in SIPP costs, Defaqto adds. “[A rise ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension Lab processes more than one million digital LoAs

Pension Lab processes more than one million digital LoAs

Challenge around ‘standards for consistency’

Sophia Panayi
clock 06 November 2026 • 1 min read
DWP, TPR and FCA launch consultation on guided retirement to help 'resurrect' pensions

DWP, TPR and FCA launch consultation on guided retirement to help 'resurrect' pensions

Consultation covers how default pensions should work in practice

Holly Roach
clock 03 November 2026 • 6 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read