If you have a SIPP or other individual pension where you pick the investments, you will probably hold it on a ‘platform’ – a website or other location where you can pick funds or shares and buy and sell them within a pension or ISA.

These platforms will charge you for your custom – and they all have different structures. Some will charge you an annual fee, while others charge per transaction; many charge a combination of different fees, meaning that the best-value platform for you will depend on what products you hold, their value and how often you buy and sell investments.