Go paper-free
Amend paper-free preferences for your statements and communications.
Your SIPP is changing
We’ll help you understand your options so you can make the best decision for you.
What is the reason for the change?
The pension partnership between Halifax Share Dealing and AJ Bell is coming to an end.
This means we need you to tell us who you’d like to provide your Self Invested Personal Pension (SIPP) by 11th April 2025.
All in one app!
You can access all your accounts (SIPP, share dealing account, ISA and banking) in one place using the app.
Immediate tax relief
For every contribution you make, you don't have to wait for weeks for your tax relief (at basic rate), we instantly pay it into your SIPP
Helping hand
A dedicated team to help you make the right choice for your SIPP.
Staying with the Halifax gives you access to the same great service, online investment tools and analysis.
What are my options?
We know how important your pension is, so want to make sure you understand the three options you have. Whichever option you choose, we won’t charge you any fees for transferring your SIPP.
1. Continue with Halifax Share Dealing
Continue your investment service with Halifax Share Dealing. The administration of your SIPP will transfer to Embark Investment Services Limited who are the new pension partner and part of Lloyds Banking Group. Embark Trustees Limited will be the SIPP trustee.
2. Transfer to AJ Bell
Continue to hold your SIPP trustee and administration service with AJ Bell. Your SIPP investments and any cash you hold in your SIPP will move to AJ Bell.
3. Choose an entirely new provider
Transfer your SIPP to an entirely new provider of your choice.
Examples of what you can expect to pay with Halifax
Account value of £90,000...
Of which:
- £12,000 is cash
- £23,000 in Funds, £55,000 in shares
- 15 UK/Fund trades placed in the year
- 3 International Trades placed (£4,000 each)
You can expect:
- annual SIPP admin charge of £195 (not payable until November 2028)
- dealing charges of £292.50
- total charges: £487.50
You will receive:
- annual interest payment: £426
Account value of £170,000...
Of which:
- £25,000 is cash
- £55,000 in Funds, £90,000 in shares
- 15 UK/Fund trades placed in the year
- 5 International Trades placed (£4,000 each)
You can expect:
- annual SIPP admin charge of £198 (capped, not payable until November 2028)
- dealing charges of £392.50
- total charges: £590.50
You will receive:
- interest payment of £887.50
Account value of £510,000...
Of which:
- £40,000 is cash
- £170,000 in Funds, £300,000 in shares
- 18 UK/Fund trades placed in the year
- 2 International Trades placed (£4,000 each)
You can expect:
- annual SIPP admin charge of £198 (capped, not payable until November 2028)
- dealing charges of £271
- total charges: £469
You will receive:
- annual interest payment of £1,420
-
SIPP calculations table SIPP charges
Amount used to calculate
SIPP charges
Annual SIPP administration charge based on the value of investments
Amount used to calculate
0.25% capped at £198
SIPP charges
Dealing charges: UK trades (shares/Funds) online
Amount used to calculate
£9.50 per trade
SIPP charges
Dealing charges: International trades
Amount used to calculate
£0 per trade
SIPP charges
Dealing charges: Foreign currency charge
Amount used to calculate
1.25%
SIPP charges
Interest rate paid on uninvested cash
Amount used to calculate
3.55% variable
SIPP charges
Charge for uninvested cash
Amount used to calculate
£0
Compare us...
To help, we’ve included a comparison between the current SIPP, Halifax SIPP and the AJ Bell SIPP, below.
You can also choose to move to a different provider.
-
Comparison table Managing your SIPP
Your SIPP now
New Halifax SIPP
New AJ Bell SIPP
Managing your SIPP
Adding or changing your contributions
(In the app/Online/By post)
Your SIPP now
In the app: No
Online: Yes
By post: YesNew Halifax SIPP
In the app: Yes
Online: Yes
By post: YesNew AJ Bell SIPP
In the app: Yes
Online: Yes
By post: YesManaging your SIPP
Buying and selling your investments
(In the app/Online/By post)
Your SIPP now
In the app: Yes
Online: Yes
By post: YesNew Halifax SIPP
In the app: Yes
Online: Yes
By post: YesNew AJ Bell SIPP
In the app: Yes
Online: Yes
By post: YesManaging your SIPP
Employer contributions
Your SIPP now
Yes
New Halifax SIPP
Yes*
New AJ Bell SIPP
Yes
Managing your SIPP
Junior SIPP
Your SIPP now
Yes
New Halifax SIPP
No
New AJ Bell SIPP
Yes
Managing your SIPP
Basic rate tax relief
Your SIPP now
Applied within 6 weeks
New Halifax SIPP
Instantly applied
New AJ Bell SIPP
Applied when received
* Employer contributions only from a limited company; you must be the limited company business owner or one of the directors. We won’t accept contributions from a third party (such as your spouse, parent or grandparent) or from any other employer.
-
Comparison table Charges
Your SIPP now
New Halifax SIPP
New AJ Bell SIPP
Charges
Account charges
Your SIPP now
Up to £50,000: £22.50 per quarter
Over £50,000: £45 per quarter
New Halifax SIPP
All SIPP investments (excluding cash):
£0 - £79,200: 0.25%
Over £79,200: 0%The maximum account charge is £16.50 per month (£198 per year) whatever the size of your SIPP.
This won't be charged form the date you're transferred until November 2028.
New AJ Bell SIPP
Shares: 0.25% max £10/month
Funds:
first £250,000 - 0.25%
next £250,000 - 0.10%
value over £500,000 - 0%These won’t be charged from the date you’re transferred until July 2028.
Charges
Transferring in from another provider
Your SIPP now
£60 per transferring plan (maximum £300)
New Halifax SIPP
£0
New AJ Bell SIPP
£0
Charges
Transferring out to another provider
Your SIPP now
£0
New Halifax SIPP
£0
New AJ Bell SIPP
£0
Charges
Purchasing an annuity
Your SIPP now
£90
New Halifax SIPP
£0
New AJ Bell SIPP
£0
Charges correct as of Jan 2025
-
Comparison table Investment options
Your SIPP now
New Halifax SIPP
New AJ Bell SIPP
Investment options
Shares
Your SIPP now
UK and 6 International markets
New Halifax SIPP
UK and 6 International markets
New AJ Bell SIPP
UK and 24 International markets
Investment options
Funds
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Investment options
ETFs
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Investment options
Investment trusts
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Investment options
Bonds
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Investment options
Gilts
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
-
Comparison table Charges
Your SIPP now
New Halifax SIPP
New AJ Bell SIPP
Charges
Buying and selling shares, ETFS, investment trusts and Bonds/Gilts online
Your SIPP now
£9.50
New Halifax SIPP
£9.50
New AJ Bell SIPP
£5 or £3.50 if over 10 deals in the previous calendar month
Charges
International trading
Foreign Exchange Charge applies*
Your SIPP now
Free
New Halifax SIPP
Free
New AJ Bell SIPP
£5
Charges
Buying and selling funds online
Your SIPP now
£9.50
New Halifax SIPP
£9.50
New AJ Bell SIPP
£1.50
Charges
Telephone dealing
Your SIPP now
£25
New Halifax SIPP
£25
New AJ Bell SIPP
£25
Charges
Regular investments
Your SIPP now
£0
New Halifax SIPP
£0
New AJ Bell SIPP
£1.50
Charges
Dividend reinvestment
Your SIPP now
2% of the dividend value and capped at a maximum of £9.50 per stock.
New Halifax SIPP
2% of the dividend value and capped at a maximum of £9.50 per stock.
New AJ Bell SIPP
£1.50
Charges
*Foreign Exchange (FX) charges
Your SIPP now
1.25%
New Halifax SIPP
1.25%
New AJ Bell SIPP
First £10,000 – 0.75%
Next £10,000 – 0.5%
Value over £20,000 – 0.25% -
Comparison table Retirement Options
Your SIPP now
New Halifax SIPP
New AJ Bell SIPP
Retirement Options
Keep invested
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Retirement Options
Flexi-access drawdown
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Retirement Options
One off payment (UFPLS) lump sum
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Retirement Options
Your SIPP now
Yes
New Halifax SIPP
Yes
New AJ Bell SIPP
Yes
Before you choose
There are differences between the options so please check you’ve read and understood our terms and conditions [pdf 277.2 KB], key features [pdf 244.4 KB], charges and data privacy notice [pdf 564 KB] to ensure the option you choose is right for you.
Frequently asked questions
-
You have three options. Whoever you choose, there are no transfer out fees charged by us.
- Choose Halifax Share Dealing for your SIPP - continue your investment service with HSDL and move your admin to Embark.
- Choose A J Bell for your SIPP.
- Transfer your SIPP away to a different provider of your choice.
If you don't make a choice, your SIPP will move to AJ Bell (option 2). This includes all of your investments held in your SIPP. The AJ Bell terms and conditions will apply to your new SIPP. If you transfer to AJ Bell, and then decide their SIPP is not suitable, you’ll be able to transfer to another provider free of charge.
-
11 April 2025.
-
Please contact us to see if we can help on 0345 722 5525.
If you don't make a choice, your SIPP will move to AJ Bell (option 2), and this may not be your preference. This includes all of your investments held in your SIPP. The AJ Bell terms and conditions will apply to your new SIPP. If you are transferred to AJ Bell, and then decide their SIPP is not suitable, you’ll be able to transfer back to us or to another provider free of charge.
-
Please see the above table for key differences between your existing SIPP, the new Halifax SIPP and the AJ Bell SIPP.
You can find more information in the Key features and T&Cs or see the AJ Bell website.
-
You can complete the online form.
Or, log into your account and follow the online prompts.
Or, return the ‘Your SIPP Options Form’ in the letter using the prepaid envelope provided.
Or if you prefer, you can call us on 0345 722 5525.
-
Yes. You can change your mind up to 11 April 2025. You need to call us to do this using the telephone number provided in the initial letter - 0345 722 5525. We will act on your latest instruction.
-
If you've chosen the Halifax SIPP or an AJ Bell SIPP, we'll confirm your choice by text.
If you've chosen a different provider, you'll need to keep in touch with them about your new account.
-
If you choose a Halifax SIPP: we'll send you a discharge form at the end of April to authorise the transfer of your SIPP administration from AJ Bell to Embark. You’ll need to fill it in and send it back to us. If it’s not returned, your investments and cash will move to AJ Bell. We'll also ask for any other information; for example a new Direct Debit Mandate.
If you choose an AJ Bell SIPP: AJ Bell will be in touch after 11 April 2025.
If you choose a 3rd party provider: AJ Bell will send a discharge form for you to complete. You’ll need to fill it in and send it to your new provider. If it’s not returned, your investments and cash will move to AJ Bell instead of to your new provider.
-
Yes, you can contribute and trade as normal until just before your SIPP is moved.
Please see key dates below.
-
Last regular contribution: 1 September 2025
Last one-off contribution: Friday 12 September 2025
Last regular income payment: 15 September 2025
Last lump sum withdrawal request: 8 September 2025
Last trade: 4.30pm Friday 19 September 2025
New SIPP will be open: Monday 22 September 2025
-
Last dividend reinvestment: 5 June 2025
Last regular investment: 5 June 2025
Last one-off contribution: Friday 13 June 2025
Last regular contribution: Friday 13 June 2025
Last lump sum withdrawal request: 9 June 2025
Last regular income payment: 16 June 2025
Last trade 4.30 Friday 20 June 2025
New SIPP will be open: Monday 23 June 2025
-
Our dedicated contact team will ring you to help with any additional support you might need, or you can call us on 0345 722 5525.
-
Can I transfer now?
Yes, you can open a new Halifax SIPP now if you wish but you will pay the new admin fees straight away. If you wait to be transferred in September, then you won’t pay these fees until November 2028.
What happens next?
If you choose the Halifax SIPP: we will contact you at the end of April. We will send you a discharge form to authorise the transfer of your SIPP administration. You’ll need to fill it in and send it back to us. If it’s not returned, your investments and cash will move to AJ Bell.
We’ll also ask you for a new Direct Debit mandate or any other information we need.
We'll let you know when your new SIPP account is open in September.
If you chose the AJ Bell SIPP, they will contact you with your new account details and any other information.
Will my account number change?
- If you choose the Halifax SIPP there will be no change to your account number.
- If you choose the AJ Bell SIPP, you will trade through a new account with them.
Will I still be able to access my SIPP through online banking?
Yes, if you choose a Halifax SIPP - you will still be able to access your SIPP using online banking or via the online log in webpages using the same username and password you use now.
Will I need to set up a new Direct Debit?
Yes - if you choose a Halifax SIPP, we will send this out to you at the end of April.
Will I need to set up a new Drawdown instruction?
Yes – if you choose a Halifax SIPP, we will send this out to you at the end of April.
What will happen to my regular investments:
- If you choose a Halifax SIPP, your regular investments will continue
- If you choose an AJ Bell SIPP your last regular investment will be on the 05 June 2025. Any investments after the 5 June will be cancelled. You will need to set up a new investment plan with AJ Bell. Any uninvested cash will be transferred to them.
Can I get advice?
We operate an execution only (or ‘non-advised’) service, so we can’t give you advice on tax or financial services matters. For independent and impartial advice that is personalised to your own circumstances, you can speak to a financial adviser. They’ll normally charge you for any advice they give.
If you don’t have a financial adviser, you can visit unbiased.co.uk or vouchedfor.co.uk to find a list of advisers near you. Alternatively, our partners Schroders Personal Wealth could help, and you can book a free initial consultation with them at spw.com.
To qualify for advice from Schroders Personal Wealth, you’ll need to have: £100,000 in savings, investments and/or personal pensions, and/or £100,000 of sole annual income. Fees and charges may apply.
You might also like
Your money is protected
Investments with Halifax Share Dealing Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme. This limit is applied to the aggregated total of any stock or cash held across the following brands which we administer.
This is in addition to any other savings deposits you may hold across Lloyds Banking Group.
Important legal information
Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.