Pension dealing account
The easy, flexible account for investing through a pension scheme you hold elsewhere.
What is a Pension dealing account?
Designed for those with cash sat in a registered scheme elsewhere, our great-value Pension dealing account gives you the flexibility to invest, without impacting your existing pension account.
- No impact to your existing provider
The AJ Bell Pension dealing account acts as an extension to your existing pension scheme. Any money paid in and invested can only come from your existing pension provider. - Tax-efficient investing
As the AJ Bell Pension dealing account forms part of your overall pension scheme, you won’t need to pay UK tax on any dividends or capital gains. - Compatible with structured SIPP and SSAS schemes
Our account can form part of structured SIPP (Self-invested personal pension) or SSAS (Small self-administered scheme) accounts. - You’re in control
While the account administration sits with your pension scheme, you control your investments and receive all communications about the account.
Investing over the long term typically outperforms cash savings, but values can fall as well as rise over time. Any information we provide is to help with your research and isn't financial advice.
Investing over the long term typically outperforms cash savings, but values can fall as well as rise over time. Any information we provide is to help with your research and isn't financial advice.
How to open a Pension dealing account
Open a regular Dealing account
You’ll need to open a regular Dealing account with us first. It only takes a moment and allows you to manage your Pension dealing account easily.
Once done, you’ll then need to complete a Pension dealing account application form.
Complete a Pension dealing account form
The corporate trustee for your overall pension scheme will need to sign the form for it to be completed – all of which is explained on the form.
These accounts are usually opened within 3 working days, although at times this can be slightly longer.
As AJ Bell aren’t your pension provider, you won’t be able to pay money directly into your account, for example by using a debit card.
Instead, any money paid into your AJ Bell Pension dealing account will need to be done so by your pension provider.
When you want to withdraw from your AJ Bell Pension dealing account, we’ll only be able to send the money back to your pension provider.
If you have an existing Pension dealing account elsewhere and want to transfer it to us, you’ll need to make your pension provider aware first.
You’ll also need to send them a Pension dealing account transfer form, which your provider will need to complete and send to us, as the instruction to transfer an account must come from them.
We keep our charges low
Our low-cost charges mean you have more money available to get the best value from your investments.
Account charge
Never pay more than
0.25%
Dealing charge
Deal online for as little as
£1.50
Choose your investments
You’re the decision maker when it comes to choosing how and where to invest your money. Although we can’t give you recommendations, we can support you along the way by taking the confusion out of investing.

I need some ideas
Here you’ll find our AJ Bell managed funds, as well as a list of standout funds that we’ve chosen based on value and potential for growth, and Starter portfolios built by our experts and managed by you.

Show me all the options
See our full range of investment options across all markets and sectors, including over 4,000 funds, shares, trusts, ETFs, bonds and gilts – with dealing charges starting from just £1.50.
Is a Pension dealing account right for me?
An AJ Bell Pension dealing account is designed for those who have a pension with a provider that allows uninvested cash – for example cash earned from property rental – to be invested through a different investment platform.
If you don’t have this type of pension scheme but still want to open a personal pension, we have other accounts that may be more suited to you.
Ready-made pension
Our low-cost, hassle-free pension. Choose from three AJ Bell-managed investment funds, decide how much you want to put in, and we’ll take care of the rest.
Self-invested personal pension
The pension for those who want to be hands-on with their investments, the AJ Bell SIPP gives you flexibility to invest however you like, all in a great-value account.
The most popular questions asked about our Pension dealing account
What are the charges for a Pension Dealing account?
The charges for a Pension Dealing account are the same as our standard Dealing account charges. You can buy and sell investments for as little as £1.50 for funds and £5.00 for shares, and it costs a maximum of 0.25% a year to hold them in your account with us. Read more about our Dealing account charges and rates.
Why can’t I make a payment or withdraw from my Pension dealing account?
As we aren’t your pension (SIPP or SSAS) provider, all requests to contribute or withdraw funds will need to be undertaken by your existing pension provider. Money can then be transferred from the pension scheme to your Pension Dealing account with us. We can also transfer money back.
Why do I have to open a standard Dealing account first?
This is required to provide you with the necessary access to the Pension Dealing account. You don’t need to use this account. It can remain dormant and won’t accrue any charges. If you wish to use it to invest funds held outside of your pension, then you’re more than welcome to do so, however our standard Dealing account charges will then apply.
What’s a Pension Scheme Tax Reference (PSTR) and where can I find this?
This is unique to your pension (SIPP or SSAS) scheme, so you’ll need to get this information from your pension provider when completing the form. Alternatively, you can ask them to fill this in when they’re completing their section of the account application form.
Do I need an LEI Number for a Pension dealing account and where can I find this?
The Legal Entity Identifier (LEI) initiative is designed to create a global reference data system that uniquely identifies every legal entity or structure, in any jurisdiction, that’s party to a financial transaction.
This is only required for Pension Dealing account applications related to a Small Self-Administered Scheme (SSAS) and only where you plan to invest in investments traded on a stock…
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