Fidelity SIPP Review (2025) Your Essential Guide!

Fidelity's SIPP offers a wide range of investments and in-depth research tools, designed to support informed decision-making. Their strong customer service and educational resources are key features.
Fidelity SIPP
  • Last Updated: 14 Oct 2024
  • Fact Checked Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui
EveryInvestor Promise
EveryInvestor Promise
At EveryInvestor, our aim is to assist you in making informed financial choices. We are committed to maintaining rigorous editorial standards, yet it is important to note that our content may include references to our partner's products. For full transparency, here is an overview of how we earn money.
Examine Its Benefits & Limitations & Find Out If It Could Be the Right Choice for You. Explore All This in Our Comprehensive Guide Now!
Key Takeaways
  • Fidelity SIPP provides a tax-efficient way for savers to grow their pensions with a flexible range of investment options across stocks, bonds, and various funds; known for competitive fees, they offer cost-effective solutions for managing retirement savings.
  • Popular for its robust platform features and comprehensive research tools, Fidelity appeals to experienced investors.
  • Fidelity SIPP stands out as a comprehensive pension solution with flexible retirement withdrawal options like drawdowns and lump sums.

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.

In This Article, You Will Discover:

    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.

    EveryInvestor SIPPS Masterclass

    Your key to making an informed decision about self invested personal pension schemes.

    What You'll Learn in the Masterclass

    • 5 Dynamic Modules - From Basics to Expert Insights
    • 7 Free Downloads & Checklists - from what questions to ask, to avoiding scams!
    • And more...
    Masterclass

    Who Is Fidelity, and How Do Their SIPPs Work?

    Fidelity is a global financial services company that provides investment management, retirement planning, wealth management, and other financial services.

    Fidelity offers a SIPP (Self-Invested Personal Pension) platform, allowing individuals to manage their pension investments.

    Here’s a closer look:

    What Is a Fidelity SIPP?

    The Self-Invested Personal Pension (SIPP) available in the UK is designed to provide individuals with greater autonomy over their retirement finances.

    Understanding SIPP

    It allows for personalised management and selection of a wide variety of investment vehicles, including equities, fixed-income securities, and real estate, all within the framework of their pension plan.

    How Does the Fidelity SIPP Work?

    The Fidelity SIPP (Self-Invested Personal Pension) works by allowing retirement savers to choose from a wide range of investment options, including stocks, bonds, funds, and more, to build a diversified portfolio.

    Fidelity Review: Comprehensive Overview of Services

    As mentioned, Fidelity offers a broad range of financial services, from ISAs and pensions to general investment accounts, making it a good fit for both novice and experienced investors looking to build a diversified portfolio.

    It’s important to note, however, that Fidelity’s fees are not the lowest in the market, particularly for smaller portfolios, so weigh the benefits of the platform’s robust tools and services against potentially higher costs, especially if you’re looking for cost-effective, long-term investing.

    Let’s look at some of the service reviews:

    Fidelity Drawdown Pension Reviews: Key Feedback from Users

    Fidelity’s drawdown pension service receives positive feedback for its flexibility, allowing retirees to manage withdrawals while continuing to grow their investments.

    Users particularly appreciate the ease with which they can adjust their drawdown amount based on their financial needs; however, some users have highlighted the need for more comprehensive advice during the drawdown process, especially for those unfamiliar with managing investments.

    If you’re considering a drawdown, it may be worth seeking independent advice to ensure you’re making the best financial decisions.

    Fidelity SIPP Reviews: Customer Experiences

    Fidelity’s SIPP is widely regarded for its low-cost structure and flexibility, with many customers praising the wide range of available funds and ease of use.

    On the other hand, some users have pointed out that Fidelity’s customer service could be improved, particularly when dealing with more complex queries.

    Overall, the SIPP receives positive reviews, but it’s important to be aware of potential service delays if you require assistance.

    Fidelity UK Review: Is Fidelity for You?

    Fidelity is a well-known provider in the UK, offering pensions, ISAs, and general investment accounts. It caters to new and experienced investors with a range of funds and investment tools to suit different risk profiles and financial goals.

    Fidelity’s SIPP and pension products give you flexibility and control if you’re planning for retirement, and with a user-friendly platform, competitive charges, and access to a wide range of investments, Fidelity is a popular choice for UK investors.

    Remember to compare Fidelity with others to make sure it’s right for you.

    What Are the Benefits of the Fidelity SIPP?

    The benefits of the Fidelity SIPPs provider include the wide variety of investment options on offer.

    Benefits of Fidelity SIPPs

    Other advantages are:

    • Minimum investments from as little as £25.
    • Support in the form of calculators, investment selection tools, and online guidance.
    • A reduced service fee once your investment exceeds £250,000.
    • A guarantee that transfer fees will be covered up to £500 if you would like to transfer your pension from a different provider and need to pay fees.
    • A cashback offer of between £200 and £2,000 if you apply to transfer from a different provider before 1 April 2024.1
    • Which? Recommended status.2

    What Are the Drawbacks to a Fidelity SIPP?

    The drawbacks to a Fidelity SIPP include the fact that, as with most Self-Invested Personal Pensions, it can be complex and it requires investment knowledge if you want to make informed decisions.

    Drawbacks of Fidelity SIPP

    Other potential drawbacks are:

    • Telephonic customer assistance can take a long time, according to client reviews.3
    • Phone trades cost £30 each.
    • Online deals cost £7,50.
    • Management fees and charges can impact overall returns and differ between funds within your SIPP, which means it can be difficult and time-consuming to figure out what you will be paying.4
    • Investment performance is subject to market fluctuations, as with all investments, and your capital is not guaranteed.

    Who Is Eligible to Open a Fidelity SIPP?

    UK residents over 18 and below 75 are eligible to open a Fidelity SIPP.

    You can also open a Fidelity SIPP if you are a Crown servant performing duties abroad or the legal partner of a Crown servant.

    What Should You Consider Before Choosing a Fidelity SIPP?

    Before selecting a Fidelity SIPP, consider your risk tolerance, your investment goals, and whether you are comfortable managing your own investments.

    Fees & Charges

    Fees associated with a Fidelity SIPP include an annual service fee, transaction fees for buying/selling investments, and fund management fees.

    Investment Options

    Investment options range from equities and bonds to ETFs and mutual funds.

    Flexibility & Accessibility

    Account holders can manage their investments online and make changes as needed. 

    However, funds are locked until the minimum retirement age of 55 (57 in 2028).

    Tax Benefits & Implications

    Contributions to a Fidelity SIPP benefit from tax relief, while investments grow tax-free within the account (although withdrawals are subject to income tax).5

    Withdrawal & Retirement Options

    Upon reaching retirement age, account holders can choose to access their funds. 

    Options include purchasing an annuity, taking a lump sum, or utilising a drawdown.

    Customer Support & Service

    Fidelity provides customer support to assist with account management, investment decisions, and other inquiries.

    Existing customers who are registered online can log in and send a secure message.

    Fidelity is available on 0333 300 3350, or +44 1737 838 000 from outside the UK.

    What Are the Contribution Limits of a Fidelity SIPP?

    The contribution limits of the Fidelity SIPP are not set, but there is a restriction on the amount of money you can invest in your pension before you forfeit your tax benefits. 

    Referred to as the annual allowance (AA), the maximum tax-relief limit is £60,000.6

    Fidelity SIPP Charges: What Are You Expected to Pay in 2025?

    The Fidelity SIPP charges and fees include the annual service fee of 0,35% (or the £7,50 monthly fee if you hold under £25,000 and do not have a regular savings plan).7

    Other charges include:

    • Online trades: £7,50 each
    • Phone trades: £30,00 each

    Be sure to factor in the Fidelity SIPP’s service fees, trading costs, and other charges when considering your pension investment.

    What Are the Withdrawal Options

    Withdrawal options include purchasing an annuity, taking a tax-free lump sum, or using income drawdown.

    Who Is a Fidelity SIPP Suited to?

    A Fidelity SIPP is best suited to individuals who have investment knowledge, are comfortable managing their pension investments, and seek more control over their retirement savings.

    Considering a Fidelity SIPP can provide greater investment control and flexibility compared to traditional pension plans. 

    It allows individuals to tailor their investments according to their risk tolerance, financial goals, and market outlook.

    Fidelity Pension Review: How It Compares to Competitors

    Fidelity’s pension offerings stand out for their low-cost investment options, wide fund choices, and user-friendly platform; when compared to competitors, Fidelity offers competitive fees and a broad range of global funds, making it a strong choice for pension savers.

    The Fidelity SIPP compares especially favourably in terms of cost if your investments are worth between £25,000 and £250,000.8

    However, some competitors may offer lower fees or more niche investment products, so weigh Fidelity’s strengths in customer service and ease of use against potentially lower fees available from other providers like Vanguard or AJ Bell.

    Fidelity Reviews UK: What Customers Are Saying?

    Customer reviews highlight Fidelity’s user-friendly platform, investment options, and reliable customer support.

    How the company stacks up on review sites:

    • Trustpilot: 4.0/5 stars (based on 4,356 reviews).9
    • Boring Money: 3.5/5 stars (based on 449 reviews).10

    Opening a Fidelity SIPP

    Opening a Fidelity SIPP is a straightforward online process.

    Opening a Fidelity SIPP

    To open a Fidelity SIPP, follow these steps:

    1. Register: Create an account on Fidelity’s platform.
    2. Choose SIPP: Select the Self-Invested Personal Pension option.
    3. Provide Information: Complete the required information and verification steps.

    You will typically need your National Insurance number, proof of identity, and proof of address in order to complete your application.

    SIPP Transfer Cashback: Does Fidelity Offer Transfer Incentives?

    Fidelity occasionally offers cashback incentives for transferring an existing SIPP to their platform, though these offers typically apply to larger pension balances and can provide a financial bonus if you choose to consolidate your pensions with Fidelity.

    Regulatory Details

    The Financial Conduct Authority (FCA) regulates and authorises the Fidelity SIPP, and the provider follows the guidelines set for pension schemes in the UK.

    Registration numbers:

    • FCA ref. number: 122169.11
    • Companies House reg. number: 01629709.12

    Common Questions

    Benefits of Fidelity SIPP for Retirement Savers

    Fidelity SIPP Fees Compared to the Market

    Investment Choices with Fidelity SIPP

    Popularity Among Experienced Investors

    Comprehensive Pension Solution

    Is the Fidelity SIPP Safe

    What’s the Minimum Contribution Required to Open a Fidelity SIPP

    Can I Transfer My Existing Pension into a Fidelity SIPP

    How Often Can I Access & Manage My Investments Within a Fidelity SIPP

    Are There Any Penalties for Early Withdrawal From a Fidelity SIPP

    Can I Seek Professional Advice While Investing in a Fidelity SIPP

    What Happens to My Fidelity SIPP if I Change Jobs

    Can I Manage My Fidelity SIPP Online

    How Long Does It Take to Open a Fidelity SIPP Account

    In Conclusion

    Is a Fidelity SIPP the perfect fit for your pension ambitions? 

    This is a question of compatibility—whether you can align your investment goals with what Fidelity offers. 

    No investment journey is complete without informed guidance, so tapping into the wisdom of a qualified financial adviser can be a game-changer. 

    After all, when it comes to securing your retirement, the choice of a Fidelity SIPP should not be left to chance; it should be a well-considered move.

    Related Articles
    Scroll to Top