When it comes to the Fidelity SIPP, the UK market takes notice. 

Fidelity's SIPP offering stands as a noteworthy contender in the expansive pension landscape, and with so many options for UK investors to choose from, understanding where Fidelity's SIPP fits in can be pivotal.

The team at EveryInvestor has consulted industry sources and the company’s own material to compile this guide on how this SIPP shapes up in the wider UK pensions landscape.

Before anything is published, all our content undergoes strict quality and compliance checks so we can be sure of bringing you only the most useful and relevant information.

What Is a SIPP and Who Is Fidelity?

A Self-Invested Personal Pension (SIPP) is a UK government-approved pension product that gives investors more control over their retirement savings.

With a SIPP, you can pick your own investments from a broad range of options and benefit from associated tax advantages.

Fidelity is a well-established investment firm authorised by the Financial Conduct Authority. They serve clients globally and offer ISAs, general investment accounts, and low-cost pensions.

What Is the Fidelity SIPP?

The Fidelity SIPP is a flexible pension wrapper designed to help retirement savers manage their own portfolio of assets within a tax-efficient framework.

It allows you to buy and sell investments like:

• UK and international shares
• Index and tracker funds
• Mutual funds and OEICs
• ETFs
• Bonds and cash

SIPP holders also benefit from real-time portfolio management using Fidelity’s online platform and app.

Explore more on SIPPs by visiting our SIPP essentials checklist.

How the Fidelity SIPP Works

The Fidelity SIPP allows you to contribute monthly or with lump sums into an account dedicated to your retirement.

You benefit from tax relief up to the government-set annual allowance and can pick from over 2,500 investment options.

The online portal makes it easy to track your balance, adjust allocations, and withdraw income at retirement in various ways.

Fidelity charges a transparent, tiered servicing fee with no setup or exit costs, which is particularly advantageous for those focused on value.

Main Benefits of Fidelity’s SIPP

Fidelity’s pension stands out due to a mixture of convenience, low cost, and a strong investment selection.

Here’s what makes it an attractive option:

Wide Range of Investment Options

Fidelity offers access to thousands of investments across sectors and regions.

This flexibility allows you to build a retirement portfolio aligned with your goals, risk tolerance, and time horizon.

Transparent, Competitive Charges

• Annual platform fee: 0.35% (decreasing for portfolios above £250,000)
• Online trades: £7.50
• No setup, exit, or inactivity fees

Tax Efficiency

• 20%–45% tax relief based on your income band
• Tax-free growth on all investments within the SIPP
• 25% withdrawal tax-free from age 55 (or 57 from 2028)

Drawdown Flexibility

Fidelity supports income drawdown, lump sum withdrawals, and annuity purchases — all customisable depending on how you want to access retirement cash.

To better understand how SIPPs work with retirement income, explore our SIPP drawdown strategy checklist.

Fees, Charges & Contribution Rules

Fidelity offers one of the more competitive SIPP fee structures in the UK, especially for those with mid-sized portfolios.

Service Fees

• 0.35% annually up to £250,000
• Tiers down to 0.20% for balances above £1 million

Trading Costs

• Online trade: £7.50
• Phone trade: £30

Fund-Specific Fees

Fund choices also carry their own ongoing charges, known as the OCF (Ongoing Charge Figure). These vary based on fund.

Contribution Limits

• Annual Allowance: £60,000 (as of 2025)
• Lifetime Allowance (abolished in 2023 but may impact transitional benefits)
• Minimum investment: £25

Fidelity SIPP Withdrawal Options

Once you reach retirement age, you have several ways to access your money:

Lump Sum

Take up to 25% tax-free in one go. Further withdrawals are taxed as income.

Drawdown

Withdraw income as needed while the rest of your investments remain in the SIPP, potentially continuing to grow tax-free.

Annuity Purchase

Convert your fund into a guaranteed lifetime income with an annuity.

Keep in mind that future rule changes may affect access — always check current government regulations.

Customer Insight: Reviews and Ratings

Customer experience is an important part of SIPPs.

Here’s how Fidelity scores:

• Trustpilot: 4.0/5 (4,000+ reviews)
• Boring Money: 3.5/5 average customer satisfaction

Positive feedback highlights the platform’s ease of use, digital security, and range of fund options.

Users noted occasional service delays for complex cases — no different from other large institutions.

For more competitor insights, read our Freetrade SIPP review or our Nutmeg SIPP review.

Who Is Eligible for a Fidelity SIPP?

Individuals who meet these basic requirements can open an account:

• Aged between 18 and 74
• A UK resident or UK crown servant working abroad
• Minimum £25 initial investment

How to Open a Fidelity SIPP

Opening an account is easy:

1. Visit the Fidelity website
2. Register or log in
3. Provide your National Insurance number and personal details
4. Choose how to fund your account
5. Select investments or use their guided tool

For a detailed breakdown of the process, visit our Opening a SIPP guide.

How the Fidelity SIPP Compares to Competitors

Fidelity performs well in comparison with other popular providers.

Here’s a basic comparison of key metrics across rivals:

Provider	Annual Fee	Trade Fees	Notable Feature
Fidelity	0.35%	£7.50	Great UX and wide investment range
Vanguard	0.15%	£0	Cheapest for long-term index investing
AJ Bell	£10/year + OCF	£9.95	Strong research & analytical tools
Hargreaves Lansdown	0.45%	£11.95	Premium support + mobile experience

Fidelity is among the leading UK SIPP platforms for people seeking value, fund diversity, and high service standards.

Common Questions

In Conclusion

The Fidelity SIPP provides excellent value for cost-conscious investors looking to actively manage their pension.

Its large fund universe, helpful digital tools, and solid customer reputation make it a top-tier option.

However, if you’re searching for the lowest fees possible or require more personalised advisory support, you might find providers like Vanguard or AJ Bell more suitable.

Before making a final decision, explore other regulated SIPP options or use our Best Low-Cost SIPPs Comparison to match your budget and goals.

Disclaimer:
All information in this article was accurate as of July 2025. Please check with providers and advisers for the most up-to-date rates and terms.