Santander launches self-invested pension account with cashback up to £1,000

Santander has introduced a new self-invested personal pension (SIPP) account that offers up to £1,000 in cashback for investments. Customers can choose their contributions and consolidate multiple pensions through the Santander app. Cashback tiers range from £50 for investments of £5,000 to £9,999, up to £1,000 for investments of £100,000 or more. To qualify, customers must open the account by April 25, 2025. The account has management fees starting at 0.35% for balances up to £50,000. Customers must be at least 10 years away from retirement to open the account. An advice service will be available in 2025.