A pension is a long-term investment. Its value can go down as well as up and could be worth less than was paid in. Laws and tax rules may change in the future. Your own circumstances and where you live in the UK will also have an impact on tax treatment.

Which pension is right for you?

We have a choice of personal pension options depending on your needs:

SIPP funds

With our Self Invested Personal Pension (SIPP) you can pick from a wide range of investment options from Standard Life and other providers.

It’s designed for customers who are experienced investors. It’s also designed for those who are comfortable regularly reviewing their pension investments to make sure they continue to meet their needs, goals and attitude to risk.

What investments can you choose from?

With a Standard Life SIPP you can choose from pension funds, mutual funds, commercial property and lots more. We split the different investment options into three levels to make it easier for you to choose what’s right for you.

  • Level 1 – This level of investments gives you a range of choices whilst keeping things simple. You can choose from a range of over 300 pension funds.
  • Level 2 – If you’re looking for even more choice, level 2 includes over 4,000 mutual funds.
  • Level 3 – If you want to pick from our widest range of investment options, level 3 is for you. Choose from an even wider range of investment options including things like commercial property, gold bullion and more. Typically level 3 investment options are only available if you arrange your plan through a financial adviser.

If you’re looking to find out about the performance and charges for specific pension funds you can use our fund checker.

If you're likely to only want level 1 investments you may be better with our AMPP option.

SIPP charges, minimums and discounts

The cost for our SIPP depends on the level of investments you choose as well as how much you decide to pay in.


How much do I need to pay in?

To open a Standard Life SIPP you need to make the minimum payments either on a monthly or yearly basis:

How much you have in your SIPP How much you need to pay in as minimum
Under £50,000

£240 a month or £2400 a year, which is topped up with basic rate tax relief.

For example, £2400 becomes £3000 with basic rate tax relief added.

Over £50,000

£80 a month or £800 a year, which is topped up with basic rate tax relief.

For example, £800 becomes £1000 with basic rate tax relief added.

You can also set up a SIPP with us by making a one-off payment of £8,000 (which is then topped up with basic tax relief to £10,000). Keep in mind that any payments you make into a SIPP will benefit from tax relief which will bump up the amount of money that’s actually paid into your pension plan.

If you are an additional or higher-rate taxpayer then you may be able to claim for additional tax relief.


Are there any discounts?

SIPP charges depend on the type of funds you choose. We also offer Fund Discounts on most level 1 funds based on the total value of your investments.

Total value of funds (level 1 and 2) Level 1 fund discount 
£0 to £25,000 0.3%
£25,000+ 0.5%