{"id":429282,"date":"2022-01-06T16:48:28","date_gmt":"2022-01-06T16:48:28","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=429282"},"modified":"2026-02-16T09:31:20","modified_gmt":"2026-02-16T09:31:20","slug":"sipp-vs-personal-pension","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/pensions\/sipp-vs-personal-pension","title":{"rendered":"SIPPs vs personal pension"},"content":{"rendered":"<p>If you\u2019re looking to put money into a pension in addition to your <a href=\"https:\/\/www.finder.com\/uk\/pensions\/state-pension\">state pension<\/a> or <a href=\"https:\/\/www.finder.com\/uk\/pensions\/workplace-pensions\">workplace pension<\/a>, or if you don\u2019t have access to a workplace pension at all, you may (understandably) be baffled by industry jargon such as \u201cSIPP\u201d, \u201crobo advisor pension\u201d, and even \u201cpersonal pension\u201d. This guide cuts through the waffle to explain the differences (and the similarities), and help you understand whether a SIPP vs a personal pension is right for you.<\/p><h3>What is a personal pension?<\/h3><p>A standard personal (or private) pension is a pension that you set up yourself, separately from any workplace pension and your state pension. You choose the scheme, plus how much and how often you contribute. All personal pensions are <a href=\"https:\/\/www.finder.com\/uk\/pensions\/defined-contribution-pension-schemes\">defined contribution schemes<\/a>, where your contributions are invested, and your eventual pot value will depend on the performance of those investments. You can usually choose a broad plan for the scheme (how much risk you want to take, for example). The pension provider is responsible for investing your money in line with this plan.<\/p><h3>What is a SIPP?<\/h3><p>SIPPs, or \u201cself-invested personal pensions\u201d, are a type of personal pension. But they operate in a slightly different way from traditional personal pensions. Unlike regular personal pensions, with SIPPs you are responsible for managing the investments yourself. You can choose exactly where your money is invested and how much of your pot you put into each investment. You are responsible for deciding on the <a href=\"https:\/\/www.finder.com\/uk\/share-trading\/investment-strategies\">investment strategy<\/a> you want to use for your SIPP investments, and for buying and selling assets in accordance with that strategy.<\/p><h3 id=\"learn\">How are SIPPs different from regular personal pensions?<\/h3><p>SIPPs and standard personal pensions are similar in many ways, but there are some important differences that could influence which one is best for you.<\/p><h4>Similarities between SIPPs and standard personal pensions<\/h4><p>Both types:<\/p><ul><li>Let you choose the pension provider you use to administer your scheme (unlike workplace pensions, where the provider is usually chosen by your employer).<\/li><li>Allow flexibility over how much, and how often, you contribute (though some providers have minimum contribution levels).<\/li><li>Are <a href=\"https:\/\/www.finder.com\/uk\/pensions\/defined-contribution-pension-schemes\">defined contribution pensions<\/a>, where your money is invested and your pot when you retire is dependent on investment growth.<\/li><li>Benefit from <a href=\"https:\/\/www.finder.com\/uk\/pensions\/are-pension-contributions-taxable\">tax relief<\/a> on pension contributions up to \u00a360,000 per year (or the equivalent of your annual salary, if that\u2019s lower).<\/li><li>Give you access to a pot when you retire, that you can use to buy an <a href=\"https:\/\/www.finder.com\/uk\/pensions\/what-are-annuities\">annuity<\/a>, go into <a href=\"https:\/\/www.finder.com\/uk\/pensions\/best-pension-drawdown\">pension drawdown<\/a>, or take out lump sums.<\/li><\/ul><h4>Differences between SIPPs and standard personal pensions<\/h4><table class=\"luna-table luna-table--responsiveList luna-table--fixedColumns has-margin-bottom\"><thead class=\"luna-table__header\"><tr><th><\/th><th>SIPPs<\/th><th>Personal pensions<\/th><\/tr><\/thead><tbody class=\"luna-table__body\"><tr><th scope=\"row\">Who manages the scheme?<\/th><td data-title=\"SIPPs\">You, rather than the pension manager, are responsible for managing your investments. You can also hire an investment manager to do it for you.<\/td><td data-title=\"Personal pensions\">You can often choose the broad investment approach, but the specifics of your investments are managed by the pension provider.<\/td><\/tr><tr><th scope=\"row\">Investment choice<\/th><td data-title=\"SIPPs\">Choose your own investments. You can choose from a much larger range of investments than you can with a personal pension, often including more sophisticated and higher-risk options.<\/td><td data-title=\"Personal pensions\">Typically, the pension provider will invest in a selection of funds and other investments that broadly match the investment strategy you are looking for.<\/td><\/tr><tr><th scope=\"row\">How much does it cost?<\/th><td data-title=\"SIPPs\">Charges are typically higher than standard personal pensions, because of the extra flexibility SIPPs deliver.<\/td><td data-title=\"Personal pensions\">Different funds charge different amounts, but fees tend to be lower than for SIPPs.<\/td><\/tr><tr><th scope=\"row\">Who is it best for?<\/th><td data-title=\"SIPPs\">Suitable for you if you\u2019re more experienced in investing and know how to make investment decisions. May also be better for those with larger pots, due to the higher fees involved.<\/td><td data-title=\"Personal pensions\">Suitable for those with less experience in investing, or who don\u2019t have the time to dedicate to close management. May be better for those with relatively small amounts to save.<\/td><\/tr><tr><th scope=\"row\">Find out more<\/th><td data-title=\"SIPPs\"><a class=\"luna-button luna-button--success\" href=\"https:\/\/www.finder.com\/uk\/pensions\/self-invested-personal-pensions\">Best SIPPs<\/a><\/td><td data-title=\"Personal pensions\"><a class=\"luna-button luna-button--success\" href=\"https:\/\/www.finder.com\/uk\/pensions\/best-private-pension\">Best personal pensions<\/a><\/td><\/tr><\/tbody><\/table><h3>Do SIPPs cost the same as standard personal pensions?<\/h3><p>The quick answer is that SIPPs tend to be more expensive than personal pensions, because of the extra flexibility they offer.<\/p><p>The longer answer is that SIPPs tend to be more expensive than personal pensions, but the gap isn\u2019t as big as it once was. Some of it is down to the type of SIPP you choose (you can read more about the different types in our full <a href=\"https:\/\/www.finder.com\/uk\/pensions\/self-invested-personal-pensions\">SIPP guide<\/a>). If you opt for a full SIPP, which gives you the widest possible range of investment types plus personal support and advice from a team of experts, you can expect to pay pretty high fees. That\u2019s partly because of the administration involved in the more bespoke investments full SIPPs tend to offer, such as commercial property.<\/p><p>Full SIPPs used to be the only option, but over recent years a number of new platforms have started offering what\u2019s often referred to as \u201cDIY SIPPs\u201d. These lower-cost options, offered by the likes of <a href=\"https:\/\/www.finder.com\/uk\/share-trading\/aj-bell-review\">AJ Bell<\/a>, <a href=\"https:\/\/www.finder.com\/uk\/pensions\/hargreaves-lansdown\">Hargreaves Lansdown<\/a> and <a href=\"https:\/\/www.finder.com\/uk\/share-trading\/interactive-investor-review\">Interactive Investor<\/a>, often have annual platform fees that are competitive with those charged by standard personal pension providers. While there will be online guidance and tools to help you, you\u2019re pretty much left to your own devices. The range of investments may not be as sophisticated or wide-spanning as with full SIPPs.<\/p><p>However, even these low-cost SIPPs tend to work out more expensive than regular personal pensions in practice. That\u2019s because SIPPs tend to be more actively managed (meaning that you buy and sell assets more frequently). While some SIPP providers include trading fees in their annual platform fees, others will charge a fee for every trade. This may be a percentage or a fixed charge. If you trade frequently, these fees can soon add up. Fixed fees in particular can eat into the value of a relatively small pension pot. In theory, managing your account more actively will allow the potential for higher investment growth, but as we all know, the value of investments can go down as well as up. So there\u2019s no guarantee.<\/p><h3>Do SIPPs and personal pensions both require the same contributions?<\/h3><p>Unlike workplace pensions, where your regular monthly contributions are set by your employer as a proportion of your gross salary (5% is typical), both SIPPs and personal pensions allow you to contribute more flexibly. Usually, you can choose to contribute a regular monthly amount, ad hoc lump sums, or a combination of both. Some schemes may require you to make a minimum monthly or annual contribution, so if you\u2019re not sure you will be able to afford this (perhaps because your income is inconsistent), look out for a scheme with low or no minimum requirements.<\/p><p>That said, SIPPs do tend to be more suitable for those with bigger pots, or those who are able to make higher contributions, due to the typically higher (and sometimes fixed) costs involved. If you only have a small amount to save, these higher costs can outweigh the benefits of increased flexibility.<\/p><h3>Will a SIPP or a personal pension allow me to retire with a higher fund?<\/h3><p>Unless you have a crystal ball and moonlight as Mystic Meg, sadly there\u2019s no way of knowing for sure.<\/p><p>In theory, a SIPP has the potential for higher returns than a personal pension. That\u2019s due to the more active management involved (if you spot a good investment opportunity, you can seize it) and the wider range of higher-risk investments available. With higher risk comes the chance for higher reward, but also the chance of more significant losses.<\/p><p>And, of course, you also need to take account of the likely higher charges you\u2019ll pay with a SIPP.<\/p><p>In short, while a combination of skilful investing and a bit of luck could potentially let you retire with a higher fund if you put your money into a SIPP, the typically lower risk (though not no-risk) investment strategy of most personal pensions could work out better in the long run.<\/p><h3>Can I transfer from a SIPP to a personal pension (and vice versa)?<\/h3><p>Yes. You can <a href=\"https:\/\/www.finder.com\/uk\/pensions\/finding-transferring-and-combining-your-pensions\">transfer<\/a> a standard personal pension into a SIPP, or a SIPP into a standard personal pension. This could be just because you decided your original choice is no longer right for you. Perhaps you have a personal pension, and want the flexibility that a SIPP offers. Or you may have a SIPP, but not have the time to manage it effectively. Or, it could be because (for whatever reason) you have built up several pension pots that you want to <a href=\"https:\/\/www.finder.com\/uk\/pensions\/how-to-consolidate-pensions\">consolidate into a single pension scheme<\/a>.<\/p><p>If you\u2019re thinking of transferring either type of pension, check for any transfer charges that might erode the value of making the switch.<\/p><h3>Are there any differences in tax relief between SIPPs and personal pensions?<\/h3><p>Nope, not a sausage. Both types of scheme benefit from the same <a href=\"https:\/\/www.finder.com\/uk\/pensions\/are-pension-contributions-taxable\">tax relief on contributions<\/a>. With most schemes, what this means in practice is that every contribution you make will be topped up to account for the 20% basic rate tax most people pay on their income. So a \u00a340 contribution will become \u00a350, for example. If you\u2019re a higher rate taxpayer, you can claim the additional tax back from HMRC. This can be via a tax return, if you complete one. If not, you can <a href=\"https:\/\/www.gov.uk\/claim-tax-refund\" target=\"_blank\" rel=\"noopener\">claim directly<\/a>.<\/p><h3>How can I withdraw money from a SIPP vs personal pension?<\/h3><p>As with tax relief, there\u2019s no difference in how you can access the money in a SIPP vs a standard personal pension. Both types of scheme are defined contribution pensions, with which you\u2019ll end up with a pot of money intended to be used to fund retirement.<\/p><p>You can start to access defined contribution pots from age 55, or at any point thereafter (not before, unless you have medical grounds for early retirement). You can take 25% as a tax-free lump sum; the rest is subject to income tax. There are several ways in which you can withdraw the money: all at once, via lump sums, through pension income drawdown, or by buying an annuity. 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transform=\"translate(3 6.3158)\"><\/rect>\n        <\/clippath>\n      <\/defs>\n    <\/svg>\n  <\/div>\n<\/div>\n                                    <\/div>\n\n        <div class=\"eeQuote__contentContainer \">\n            <div class=\"eeQuote__content\">\n                                    <div class=\"eeQuote__heading\">Our expert says: Is there a middle ground between a SIPP and a personal pension?<\/div>\n                                <div class=\"eeQuote__quote\">\n                    <p>\"If you\u2019re daunted by the complexity and significant effort required by a SIPP, but want to have a bit more control over your pension investments than a traditional personal pension allows, you might want to take a look at <a href=\"https:\/\/www.finder.com\/uk\/share-trading\/robo-advisors\">robo-advisor<\/a> SIPPs.<\/p><p>Offered by relatively new challenger pension providers, such as <a href=\"https:\/\/www.finder.com\/uk\/share-trading\/evestor-review\">Evestor<\/a>, <a href=\"https:\/\/www.finder.com\/uk\/pensions\/nutmeg-pension-review\">Nutmeg<\/a> and <a href=\"https:\/\/www.finder.com\/uk\/pensions\/wealthify-pension-review\">Wealthify<\/a>, you\u2019ll typically be asked a series of questions about your goals, appetite for risk and investment preferences. A \u201crobo-advisor\u201d (essentially a clever, automated algorithm) will allocate you a suitable portfolio of investments and manage them on your behalf.<\/p><p>They can be a good half-way house between a SIPP and a standard personal pension. They are often more expensive than low-cost DIY SIPPs though (and almost certainly pricier than regular personal pensions). And, despite the name, they\u2019re not a substitute for personalised advice from a regulated financial adviser.\"<\/p>\n\n                <\/div>\n            <\/div>\n\n                            <div class=\"eeQuote__authorInfo\">\n                                            <div class=\"eeQuote__authorPhoto--mobile\">\n                            <figure class=\"eeQuote__photo\">\n                                <img decoding=\"async\" alt=\"Zoe Stabler DipFA's headshot\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/11\/ZoeStablerF1_Finder_600x600.png\" class=\"avatar avatar-200 photo finder-avatar\" height=\"200\" width=\"200\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/11\/ZoeStablerF1_Finder_600x600.png?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/11\/ZoeStablerF1_Finder_600x600.png?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/11\/ZoeStablerF1_Finder_600x600.png?fit=600 600w\" 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class=\"eeQuote__authorDetails\">\n                                                    <a class=\"eeQuote__authorName\" href=\"https:\/\/www.finder.com\/uk\/author\/zoestabler\" itemprop=\"url\" target=\"_blank\">\n                                Zoe Stabler DipFA\n                            <\/a>\n                                                                            <div class=\"eeQuote__authorTitle\">Senior writer<\/div>\n                                            <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n<h3>What are the pros and cons of regular personal pensions?<\/h3><div class=\"fin-pros-cons\">\n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Pros<\/h4>\n            <ul class=\"icon-list icon-list--check-circle\">\n                                    <li>Charges are usually lower than for self-invested personal pensions.<\/li>\n                                    <li>Typically more suitable for those without investment experience, who prefer to hand over investment management to their pension provider.<\/li>\n                                    <li><a href=\"https:\/\/www.finder.com\/uk\/investment-risk\">Investment risk<\/a> tends to be lower than SIPPs. Slower, more steady growth can sometimes win out in the end.<\/li>\n                            <\/ul>\n        <\/div>\n    \n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Cons<\/h4>\n            <ul class=\"icon-list icon-list--x-circle\">\n                                    <li>No investments are risk-free. If the provider makes a bad choice, or the market falls at the wrong time, you could still lose money.<\/li>\n                                    <li>Little control over where your money is invested, though many providers let you choose a broad investment approach.<\/li>\n                                    <li>Some traditional personal pensions have higher charges than others. It's worth checking, and switching to another provider if yours is expensive.<\/li>\n                            <\/ul>\n        <\/div>\n    <\/div>\n<h3>What are the pros and cons of SIPPs?<\/h3><div class=\"fin-pros-cons\">\n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Pros<\/h4>\n            <ul class=\"icon-list icon-list--check-circle\">\n                                    <li>Flexibility over when and how much you put into your pension, and where the money is invested.<\/li>\n                                    <li>Likely to suit experienced investors that want control over their pension, and access to a wider choice of investments.<\/li>\n                                    <li>Investment support or advice available via robo-advisor or full SIPPs.<\/li>\n                            <\/ul>\n        <\/div>\n    \n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Cons<\/h4>\n            <ul class=\"icon-list icon-list--x-circle\">\n                                    <li>Typically cost more than standard personal pensions.<\/li>\n                                    <li>The risks may be higher than pensions that are managed by the provider.<\/li>\n                                    <li>If you invest without regulated financial advice, you won't be able to complain if you make unsuitable choices.<\/li>\n                            <\/ul>\n        <\/div>\n    <\/div>\n<h3>Bottom line<\/h3><p>There\u2019s no categorical answer to whether SIPPs or personal pensions are \u201cbest\u201d. It\u2019s all down to your personal circumstances and preferences. Plus, what\u2019s right for you at one stage in your life might not be the right choice further down the line. Use the information in this guide to help you decide what\u2019s best for you right now. Seek professional guidance or advice if you need it. And bear in mind that even though it\u2019s an important decision, it\u2019s not irreversible. If you later decide you\u2019d prefer a different option, you can always make a switch.<\/p><h3 id=\"faqs\">Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">What type of personal pension is easiest to manage?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Standard personal pensions are easiest to manage. That\u2019s mainly because you have very little to do with directly managing the investments. Instead it\u2019s done by your pension provider, usually in accordance with a broad approach that you choose at the outset. That\u2019s not to say you should ignore a standard personal pension entirely. It\u2019s worth keeping an eye on how investments are performing, and the impact of any charges. If you\u2019re not happy with either, you are free to transfer to another scheme. SIPPs involve more active management, as you\u2019re responsible for choosing and trading specific investments and monitoring their performance. If you wish, you can employ an investment manager to do so, but this will come at additional cost.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">Can I have a SIPP and a regular personal pension?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Certainly, if you wish. There\u2019s no limit on the number of separate personal schemes you can own. You might, for example, want to hedge your bets by keeping some money in the lower-hassle and lower-risk environment of a standard personal pension, and some in a SIPP that you actively manage and perhaps take more risk with. Bear in mind that you\u2019ll pay charges for both though, and the higher charges often involved in SIPPs can make them less suitable for small pots. If you\u2019re splitting your funds, this will obviously mean the size of each pot will be smaller. Bear in mind too that there is an annual allowance for most people of \u00a360,000 (or the equivalent to your annual salary, if this is lower) that applies to your total pension contributions each year. Any contributions above this won\u2019t benefit from tax relief. <\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">How are SIPPs and personal pensions different from workplace pensions?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>All 3 types of scheme benefit from tax relief, so are a good way to save for retirement. However, workplace schemes are selected by your employer and you\u2019ll need to make regular monthly contributions from your salary. A major advantage of workplace pensions over any type of personal pension, though, is that your employer usually has to contribute too. This perk means that it\u2019s almost always worth prioritising paying into a workplace pension before you make any contributions to a personal pension or SIPP.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000003\" data-toggle=\"collapse\" data-target=\"#accordion0000000003\">\n        <span class=\"luna-accordion__title\">What's a stakeholder personal pension?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000003\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Stakeholder pensions are similar to standard personal pensions, but there are strict government rules about how they\u2019re managed. Annual management charges are capped (though they\u2019re not always the lowest available). They also allow low minimum contributions, and you can stop and start payments and transfer out at no cost. Investment options tend to be more limited than even standard personal pensions.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000004\" data-toggle=\"collapse\" data-target=\"#accordion0000000004\">\n        <span class=\"luna-accordion__title\">Can I get help to decide between a SIPP and a personal pension?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000004\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Yes. You can get general guidance on your options from the pension experts at the government\u2019s <a href=\"https:\/\/www.moneyhelper.org.uk\/en\/contact-us\/pensions-guidance\" target=\"_blank\" rel=\"noopener\">MoneyHelper website<\/a>. If you want personalised, regulated advice based on your specific needs and circumstances, you can pay a financial adviser. You can find directories of qualified advisers on the <a href=\"https:\/\/www.moneyhelper.org.uk\/en\/pensions-and-retirement\/taking-your-pension\/find-a-retirement-adviser\" target=\"_blank\" rel=\"noopener\">MoneyHelper<\/a> website, the <a href=\"https:\/\/societyoflaterlifeadvisers.co.uk\/\" target=\"_blank\" rel=\"noopener\">Society of Later Life Advisers<\/a> and <a href=\"https:\/\/www.thepfs.org\/yourmoney\/find-an-adviser\/\" target=\"_blank\" rel=\"noopener\">The Personal Finance Society<\/a>.<\/p><\/div>\n  <\/div>\n<\/li><\/ul><div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3>\n<div id=\"lazy0000000000\"><\/div>\n<script type=\"application\/json\" id=\"lazyloaded-assets-json-lazy0000000000\" class=\"lazyloaded-assets-json\">{\"critical-scripts\":[],\"scripts\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.de087a0da9824e407767.js\"],\"styles\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.87684078d471e76125dd.css\"]}<\/script><\/div><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">Pensions are long-term investments. You may get back less than you originally paid in because your capital is not guaranteed and charges may apply. Keep in mind that the tax treatment of your pension and investments will depend on your individual circumstances and may change in the future. Capital at risk.<\/div><\/article><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms \"best\", \"top\", \"cheap\" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our <a href=\"https:\/\/www.finder.com\/uk\/terms-of-use\" class=\"fin-text-navy\">terms of use<\/a>. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.<\/div><\/article>","protected":false},"excerpt":{"rendered":"<p>The main differences between SIPPs and standard personal pensions are investment choice and price. <\/p>\n","protected":false},"author":805,"featured_media":431162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[2651],"tags":[],"asset_tag":[],"class_list":["post-429282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pensions"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SIPPs vs personal pensions | Key differences explained<\/title>\n<meta name=\"description\" content=\"The main differences between SIPPs and standard personal pensions are investment choice and price. 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