Simply Ethical Simply Ethical Pension (SIPP)
Islamic Retirement & Pension in Northern Ireland
Sharia-compliant personal pension using the same seven risk-graded model portfolios as Simply Ethical's online advice service, inside a SIPP with up to 45% tax relief on contributions, tax-free growth and 25% tax-free access from age 55 (57 from April 2028). The service includes a pensions consolidation review: an adviser examines existing workplace and personal pensions and, where suitable, consolidates them into one discretionary-managed halal strategy. Same tiered fees (0.75% first GBP 50,999 down to 0.25% over GBP 1m) with no set-up, transfer or exit charges, and underlying fund costs around 0.37-0.39%. Minimum GBP 1,000 through the online route; GBP 100,000+ investors are directed to comprehensive personal advice.
This is the pension for people who suspect their three forgotten workplace pots are quietly earning riba and want a professional to fix it properly. The consolidation review plus binding scholar governance is a genuinely stronger proposition than execution-only halal SIPPs, and at consolidated balances the tiered fee beats Wahed's SIPP stack. It is not the cheapest possible route - NEST members already get 70/30 HSBC Islamic exposure for a 0.3% AMC - but for private consolidation with religious accounting included, Simply Ethical's package is the most complete in the UK market.
Pros
- Adviser-led consolidation is more protective than execution-only transfer flows at robo competitors
- Fee tiers reward larger consolidated pots, hitting 0.65% at GBP 101,000
- Firm-level Sharia certification covers the pension service, not just the funds inside it
- Underlying funds are established third-party Islamic vehicles (Franklin, Schroder, HSBC) rather than in-house products
Cons
- GBP 1,000 minimum and paperwork-led transfers are slower than app-native rivals
- Simplified online advice does not judge whether a SIPP suits you versus staying in a workplace scheme
- No auto de-risking glidepath toward retirement; risk changes require reassessment
Start Planning
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Product Details
Structure
SIPP over discretionary halal model portfolios with consolidation advice
Best For
Savers with scattered old pensions who want a regulated adviser to review and consolidate them into scholar-certified halal management.
Simply Ethical in Northern Ireland
Simply Ethical's Simply Ethical Pension (SIPP) accepts savers from Northern Ireland, structured as a SIPP over discretionary halal model portfolios with consolidation advice. UK pensions are national products with tax relief on contributions at your marginal rate, subject to HMRC limits. Simply Ethical operates across the UK, so Northern Ireland residents have full access to this product.
Our Take on Simply Ethical
Simply Ethical is the strongest governance proposition in UK halal retail investing: a binding scholar committee at firm level, verifiable certificates, tighter-than-AAOIFI equity screening and religious accounting done for clients. Its investment proposition is solid if unspectacular - seven sensible portfolios built from third-party institutional Islamic funds - and its pricing is honest, beating the robo competition above roughly GBP 50,000. What it lacks is reach and polish: a GBP 1,000 minimum, a simplified advice journey with real scope limits, and a brand presence far smaller than its substance deserves. For investors who rank compliance depth and advice above app slickness, it is arguably the best choice in the market.
How Simply Ethical Works
Complete the online journey
Answer the risk and objectives questionnaire; the service recommends one of seven portfolios for a minimum GBP 1,000 investment.
Pick your wrapper
Flexible Stocks & Shares ISA, GIA, JISA or SIPP on Fundment; transfers in are free and adviser support is available.
Discretionary management runs
The firm manages and rebalances the portfolio; you reconfirm your risk profile at 180 days; fees deduct monthly in arrears.
Religious accounting arrives annually
Zakah owed and purification amounts are calculated and communicated so you can donate correctly.
Financing Structure
Simply Ethical operates as a discretionary investment manager with a simplified advice front end: the online questionnaire produces a regulated (if scope-limited) portfolio recommendation, after which the firm manages the allocation on a discretionary basis using certified third-party Islamic funds and physical gold. Wrappers sit on the Fundment platform. Firm-level Sharia certification means the advice process, platform arrangements and zakah methodology are all inside the scholars' remit, not just the underlying funds.
In-Depth Analysis
Simply Ethical Financial Services Ltd (FCA No. 511220, Company No. 07046241) is among the longest-standing dedicated Islamic wealth managers in Britain, operating from Slough with a service stack spanning simplified online advice, comprehensive personal advice, discretionary portfolio management and bespoke mandates. The online advice service allocates clients to one of seven risk-graded model portfolios after a questionnaire, with a 180-day risk reassessment cycle (simplyethical.com, crawled 2026-08-06).
Portfolio construction runs from Defensive (67% Franklin Global Sukuk Fund, 20% equities via the HSBC MSCI Europe Islamic ESG UCITS ETF, 12.5% Royal Mint physical gold) through to Progressive Growth (77% Schroder Islamic Global Equity Fund, 10% sukuk, 12.5% gold), always holding 0.5% cash. Five-year average annual returns ranged from 4.2% (Defensive) to 13.3% (Progressive Growth) for July 2021 to June 2026. The reliance on three third-party institutional funds plus gold is deliberate: each carries its own Sharia certification which the firm reviews alongside screening criteria and ongoing monitoring.
Fees are tiered by balance: 0.75% on the first GBP 50,999, 0.70% to GBP 100,999, 0.65% to GBP 250,999, 0.40% to GBP 1 million and 0.25% above, deducted monthly in arrears, with no set-up, dealing, transfer, withdrawal or exit fees. Underlying fund charges average 0.37-0.39%. Accounts (flexible ISA, GIA, JISA, SIPP) sit on the Fundment platform. The pension service adds adviser-led consolidation: existing workplace and personal pensions are reviewed and, where suitable, transferred into one discretionary strategy.
The Sharia governance file is the differentiator. Shariyah Review Bureau assigned a two-scholar committee - Mufti Faraz Adam and Sheikh Muhammad Ahmad - whose pronouncements are binding on the firm; SRB audits annually; and the certificates covering the ethical investment policy, the zakah and purification methodology and the investment platforms are published with verification codes checkable against SRB's registry. Direct equity mandates apply financial screens tighter than the industry-standard AAOIFI thresholds, and the firm calculates zakah and purification amounts for all relevant clients each year.
Shariah Compliance Details
- Binding Sharia Committee via SRB: Mufti Faraz Adam and Sheikh Muhammad Ahmad (simplyethical.com/sharia-compliance, crawled 2026-08-06)
- Annual SRB Sharia audit of the firm
- Published certificates with verification codes: ethical policy, zakah/purification methodology, investment platforms
- Direct equity screening tighter than AAOIFI baseline; <=5% non-compliant income tolerance with purification
- FCA authorised: Simply Ethical Financial Services Ltd, No. 511220
How Simply Ethical Compares
Simply Ethical versus Wahed is advice-and-governance versus app-and-accessibility: Wahed starts at GBP 50 with slicker onboarding, Simply Ethical answers with binding scholar rulings, tighter screens, human advisers and cheaper tiers above GBP 50,000. Versus DIY platforms, the 0.75% headline plus ~0.38% fund costs buys regulated advice and zakah accounting that self-directed investors must do themselves. Its pension consolidation service has no genuine halal competitor except full-fee IFAs.
Cheaper to start and faster to open, with published Shariah reports, but no advice layer and pricier at scale.
Its Islamic Global Equity Fund is Simply Ethical's own growth engine; direct purchase suits investors who only want that exposure.
For sophisticated investors adding halal private credit yield on top of a Simply Ethical core portfolio.
Bottom Line
The compliance-deepest wealth manager in UK halal investing: binding scholars, verifiable certificates and zakah done for you, at pricing that gets sharper as balances grow. Accept the GBP 1,000 floor and the modest fund menu, and it is the thinking investor's choice.
Read full Simply Ethical reviewShariah Compliance & Oversight
Sharia Committee assigned by Shariyah Review Bureau: Mufti Faraz Adam (IFQ, CIFE, CSAA) and Sheikh Muhammad Ahmad (Masters, 9+ years); binding pronouncements, annual SRB audit, published verifiable certificates (simplyethical.com/sharia-compliance, crawled 2026-08-06).
2026-08-06
Why It's Halal
Pension assets sit in the same SRB-certified portfolio construction (Franklin Global Sukuk, Schroder Islamic Global Equity, HSBC Islamic ESG ETF, physical gold) under the binding two-scholar committee of Mufti Faraz Adam and Sheikh Muhammad Ahmad, with annual audits and published certificates. The consolidation service addresses a real Shariah pain point: most UK Muslims hold defaulted workplace pensions invested in conventional bonds and unscreened equities, and moving them under certified discretionary management is often the single largest de-riba action available to them. Zakah and purification calculations extend to pension assets (simplyethical.com/pension and /sharia-compliance, crawled 2026-08-06).
Regional Availability
Simply Ethical serves all of the UK
✓ Available nationwide including Northern Ireland
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NationwideFrequently Asked Questions
What is Simply Ethical Simply Ethical Pension (SIPP)?
Why is Simply Ethical Simply Ethical Pension (SIPP) considered halal?
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.