How to Open a SIPP UK 2026
A Self-Invested Personal Pension (SIPP) gives you full control over how your retirement savings are invested, plus government tax relief on every contribution.
Tax Relief on Contributions
- Basic rate taxpayers: pay in £80, government adds £20 — total £100 in your pension
- Higher rate taxpayers: claim additional 20% via self-assessment — effectively £60 to get £100
- Additional rate taxpayers: effectively £55 to get £100
This is a guaranteed return before any investment growth.
Best SIPP Providers 2026
| Provider | Annual Fee | Best For |
|---|---|---|
| Vanguard | 0.15% (capped £375) | Low-cost passive investing |
| Hargreaves Lansdown | 0.45% (capped £200) | Widest fund range |
| AJ Bell | 0.25% (capped £120) | Medium portfolios |
| InvestEngine | 0% | ETF-only, lowest cost |
Contribution Limits
You can contribute up to 100% of annual earnings or £60,000 per tax year (whichever is lower) across all pensions combined.
Accessing Your SIPP
From age 57 you can access your SIPP. The first 25% is tax-free. The remaining 75% is taxed as income at your marginal rate.
Always consider speaking to a financial adviser before making significant pension decisions.