If you have been researching your investment options with an eye to retirement, the Standard Life SIPP may have crossed your radar. 

This SIPP could be ideal for investors looking for commercial property and gold bullion investments combined with a less demanding management approach.

But how do you know if it would be the best fit for you?

The EveryInvestor team has delved into the distinctive features of this SIPPs provider, analysed its performance, and researched how it measures up against the competition.

All our content undergoes strict quality and compliance checks before publication, so you can rest assured you will be reading only the most useful and relevant information.

About Standard Life & How It Works

Standard Life is a UK-based financial provider with over 190 years of history.

Today, it operates under Phoenix Group, managing over £270 billion in client assets.

Standard Life’s SIPPs have evolved into one of their flagship retirement solutions, offering tiered investment access and digital convenience to help people manage their pensions with autonomy and confidence.

To stay compliant and competitive, the platform continues to integrate features such as app-based investing and open banking tools.

What Is a SIPP?

A Self-Invested Personal Pension (SIPP) is a UK-approved pension wrapper that allows individuals to control how their retirement savings are invested.

Unlike a standard pension, SIPPs allow you to choose a wide selection of assets including:

• Individual stocks and shares
• Investment funds (unit trusts, OEICs)
• Bonds and government securities
• Property (commercial only)
• Exchange-traded funds (ETFs)
• Alternative assets like bullion

For more on how these work, read our comprehensive SIPP investment checklist.

Benefits of a Standard Life SIPP

A Standard Life SIPP offers flexible investment access, excellent diversification potential, and tax-efficient growth.

Below are the key advantages explained:

Broad Investment Choice

Choose from over 300 core pension funds in Level 1, or expand to more than 4,000 mutual funds and direct equities in Levels 2 and 3.

Adventurous investors can also access niche assets like gold or property.

Tax Relief and Efficiency

You’ll receive tax relief on contributions up to your allowance.

Investments grow free from capital gains tax or income tax while held inside the pension wrapper.

Withdrawals are taxed as income, but 25% is tax-free upon retirement.

Explore more tax benefits of SIPPs here.

Fund Consolidation and Management

You can transfer existing pensions into your SIPP and monitor everything from a central dashboard.

This simplifies retirement planning and improves visibility.

Investment Tiers Explained

Investors can choose from three levels of access, each with a different set of investment options and cost structures.

Tier	Features	Best For
Level 1	300+ core funds	Beginners or hands-off investors
Level 2	4,000+ mutual funds	Intermediate investors wanting more choice
Level 3	Shares, property, bullion	Advanced investors with adviser input

Higher tiers incur additional charges but give you access to the full spectrum of SIPP investments.

For options similar to these, check the Nutmeg SIPP review and see how it compares.

Charges, Fees & Discount Structures

Annual Management Fees

• 0.8% for a Level 1 SIPP valued at £150k (after 0.5% discount)
• 0.65% for a £200k Level 2 portfolio

Discounts apply depending on portfolio value.

Standard Life lowers fund fees by 0.3% for portfolios up to £25k, and 0.5% for those above £25k.

Admin Fees (Based on Tier & Fund Value)

• Level 1: £0
• Level 2: £262 (waived if ≥ £50,000)
• Level 3: Scaled between £524 and £0 depending on your fund value

See our full cost comparison of leading SIPPs to view competitors.

Transaction Fees

Most Levels 1 and 2 investments are fee-free to switch or sell.

Level 3 trades cost £62, or £12 if handled via Stocktrade.

Additional fees apply for drawdowns, discretionary managers, and pension transfers.

Digital Platform Features

Standard Life offers a web platform and an award-winning mobile app for investors.

Online Dashboard Capabilities

• Track portfolio performance in real time
• Switch funds or rebalance as needed
• Download statements or view contributions

Mobile App Highlights

• 4.7/5 App Store rating
• Biometric login
• Moneyhub open finance integrations
• Budgeting and investment calculators

These tools simplify DIY investing and are ideal for users preferring low interaction with customer service.

SIPP Performance & Reputation

A recent fund review by Yodelar showed varied results.

Out of 135 Standard Life funds:

• 8 received top (4 or 5 star) ratings
• 77% were ranked with just 1 or 2 stars

Despite top-level brand trust, customer reviews on Trustpilot average 2.3 out of 5, highlighting inconsistent support.

Compare that with better-rated providers such as Freetrade SIPP and Fidelity SIPP if service is a key priority.

Tax Considerations

Tax Relief

You’re eligible for 20% basic tax relief on up to £60,000 annually.

Additional relief available for higher-rate taxpayers.

Tax-Free Growth

Your investments grow free from capital gains or income tax while held in the SIPP.

Retirement Withdrawals

The first 25% you withdraw at age 55 (rising to 57 in 2028) is tax-free.

The remaining 75% is taxed at your current income rate.

Who Is This SIPP Best Suited To?

This product is best for investors who:

• Have a pension pot over £25,000
• Want to control or tailor their own retirement investments
• Are comfortable navigating a digital-only experience
• Appreciate access to unique assets like bullion or property

It may not be suitable if you prefer guided advice, very low fees, or customer service-led support.

Use this SIPP suitability checklist to determine your match.

How to Open a Standard Life SIPP

Opening a Standard Life SIPP is straightforward.

You can apply online or speak with a financial adviser.

Transfers from other pension providers are allowed and often incentivised.

Looking for help with choosing the right provider? Speak to a pension expert before making a decision.

Common Questions

In Conclusion

While the Standard Life SIPP offers powerful pension investing features, its layered fees and inconsistent support experiences can be drawbacks.

If investment control and asset variety are your priorities, this SIPP delivers.

If customer service and low-cost simplicity matter more to you, consider alternatives.

Run the numbers and use our SIPP comparison checklist to ensure the best fit for your future.

All details in this article were accurate as of July 2025. Rates, lending criteria, and eligibility rules may change over time. Please consult a financial adviser before making decisions based on this content.