From 26 October 2026, the interest rate on uninvested cash in your SIPP will change from 3.80% to 3.00% AER.
Why is the rate changing?
Your SIPP has no account, custody or trading fees. Instead, we earn interest on your cash from the banks where we hold it and pay you the published rate. We keep the difference, which, together with our 0.15% FX fee, is how we fund the SIPP. We review and adjust the interest rate periodically to help us continue to offer our SIPP on this basis.
Does this change introduce any fees?
No. Your SIPP will continue to have no account, custody or trading fees. This change is to the interest rate offered on your uninvested cash.
What stays the same?
Interest is paid every day, automatically. Your cash is held in bank deposits and protected by the FSCS up to £120,000 per bank. You do not need to do anything.
Personal circumstances may affect how FSCS protection applies. Learn more here.
When does the new rate apply?
The new rate of 3.00% AER will apply from 20 October 2026. Until then, the rate remains 3.80% AER. To find more information on how interest on cash works, visit "What is interest on cash?"