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Best for Low-Cost SIPP 2022 - less than £50k

9 Feb, 2022

Readers, contain your excitement as we welcome you to the digital red carpet of the glamorous UK investment and pension scene.

These awards reflect the lowest cost SIPPs today for average investor portfolios with less than £50,000 in the account. Providers which do not support drawdown have not been included.

These independent awards are compiled using customer reviews (30% of the score), Boring Money’s rigorous behind the scenes testing using our live accounts, charges (25% of the score) and customer service including call centres and support. These awards take our research team of 6 analysts over 2 months to research and collate, and recognise all round excellence. In our opinion – and their customers’ opinion - they are the best SIPPs in the UK today for those investing less than £50k without an adviser. They are listed in diplomatic alphabetical order below.

Best for Low-Cost SIPP 2022 - less than £50k - winners list

More information about these awards

Why did we come up this award?

Whether you're a beginner or an experienced investor, pensions are not the easiest topic to get excited about. And that's when everything is explained to you in simple layman's terms! Sadly, the financial sector has a nasty habit of using mind-numbing terminology when describing SIPPs. That's why we came up with the Best for Low-Cost SIPP for those with less than £50k.

This award honours those providers that provide consistently good value for money, transparent pricing, great website experiences, excellent customer service, and brand-spanking technology.

Sorry - what are SIPPs again?

For the record, these are Self-Invested Personal Pensions – and you can find out more about them here. If you're a basic rate taxpayer, you'll get £20 for every £80 you put in. Higher rate taxpayers can claim a further 20% on their tax returns. You might already have a decent chunk of money to invest - but it's not quite enough to get you a comfortable pension just yet. You may want to retire sooner rather than later - so you might be extra cautious about any charges which might eat into your returns. But comparing pension providers and understanding who are the cheapest SIPPs in 2022 is often no easy task.

And how does this information help me find the best low-cost pensions if I have less than £50k to invest?

We didn't just come up with these awards to brag about how great all these pension providers are. These awards exist primarily to help you - the customer - understand which providers could help make your money work harder as you plan for retirement.

As we mentioned, pensions aren’t an exciting topic for most people – which is why we’ve taken care of all the dull analysis so you don't have to. And as you navigate our website and compare low-cost pensions, do look out for those Best Buy logos next to the brand's name. We don't just give these out to anyone. Providers have to earn them – and we’re a tough crowd to please.

And if you think your pension pot might be worth at least £50k soon, don't forget to check out our Best for Low-Cost SIPPs in 2022 for those with more than £50k.

Still not sure?

Not sure whether DIY pension planning is right for you? Then check out our shortcut quiz to see if other options might be more suitable for you.

Our general reviews of ISA providers can be read on here.

Find out who our winners are for each of the other categories: Best Buy ISA, Best Buy Pension, Best Buy LISA, Best Buy JISA, Best for Sustainable Investing, Best for Beginners, Best for low cost ISA<£50K, Best for low cost ISA>£50K, Best for low cost SIPP>£50K, Best for Share Traders, Best for New Investment Platform, Best for Customer Service and Best App.