Are these pension fees reasonable?

myhooose

I've recently started paying more into my company Sipp pension for higher rate tax and child tax benefits.

The fees for the SIPP are:
Platform charges 0.59%
Investment charges 0.09%

Do these seem reasonable? I'm debating if it is worth opening a separate lower cost SIPP

cloud_dog

Do you benefit by being paid under a Salary Sacrifice arrangement?

Albermarle

myhooose said:

I've recently started paying more into my company Sipp pension for higher rate tax and child tax benefits.

The fees for the SIPP are:
Platform charges 0.59%
Investment charges 0.09%

Do these seem reasonable? I'm debating if it is worth opening a separate lower cost SIPP

The investment charge is low . Probably this is for the default fund and not all the investments available will be quite so cheap.
Platform charge is not excessive, but is on the higher side.
0.68% all in , is in the right ball park , but can be bettered.
Larger employers can usually negotiated bigger discounts .

If you decide to open up a separate SIPP, you need to look out for the following;
That you are really sure it is cheaper, when you pick the investment(s) you want. If you pick an inhouse managed fund with the largest SIPP provider for example, then you would be looking at over 1.5% all in.
Your employer will almost certainly be unwilling to pay into a new pension, just for you. So you will have to make partial transfers out to the new SIPP, which may or may not be allowed. You need to check.

dunstonh

The platform charge is very high.   Platforms are normally in the 0.2x% range as a ballpark.    

However, if it's not a SIPP (I know you say it is but many refer to their pension as a SIPP when it is not) but a workplace pension then 0.59% is more typical.   

Does the 0.59% include the 0.09% fund charge? 0.59% as provider/platform charge is an unusual figure