Interest rates and charges relating to cash accounts
The Personal Pension, AMPP, SIPP, GSIPP and International Bond have a bank account which allows money to be held in cash, sheltering it from fluctuations in the investment markets in advance of taking money out.
It is also used in the SIPP, GSIPP and International Bond for investment in assets other than insured funds.
Please note this is not a long-term investment option; it should only be used to hold cash for charges and regular income payments.
The bank account is currently provided by HSBC plc.
The rate of interest paid will generally be 1% below the Bank of England base rate as we retain this to cover costs for the administration of the cash held. If the base rate is 1% or less, we'll pay 0% unless we tell you otherwise.
The current gross interest rate is 2.75% per annum. As at 18/12/2025.
We reserve the right to change this rate in line with our normal terms.
From March 2026 the rate of interest paid on cash held in the Personal Pension, AMPP, SIPP and GSIPP bank account will be 1.5% below the Bank of England base rate.