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Self invested personal pensions

A self invested personal pension is a type of personal pension. Like a personal pension, you set it up yourself, to give yourself a retirement income. You can find out more about personal pensions by clicking here.

The main difference is that you have a wider choice of how you invest your pension pot if you use a self invested personal pension. You can decide your own investment strategy, or can appoint a fund manager or stockbroker to manage your investments. 

You can start a self invested pension from scratch, or you can transfer funds from another pension scheme. You don't need a substantial fund to invest in your self invested pension plan, but the larger the fund the greater the range of investment opportunities you are likely to have. 


You will have to pay some charges.  Click here to find out about charges.  There can be additional charges for self invested personal pensions because of the specialist investments.

How much you have to pay and why will vary from provider to provider. You may face additional charges at some or all of the following points:

  • setting up the plan
  • annually for administration
  • if you change your investments
  • if you invest in property
  • setting up your annuity
  • if you choose income drawdown. 

You may also face bank charges and, possibly, have to pay a fee if you seek financial advice on your investments.

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