Last chance to grab £200 cashback when opening a pension with Interactive Investor

Interactive Investor is offering £200 cashback when you open or transfer a pension by 30 September 2025. The deal requires you to open with or transfer at least £15,000, and for transfers the instruction must be submitted by 30 September and completed within two years.

Last summer the platform ran a broader promotion, with cashback scales tied to pot size. Those with accounts above £1 million could receive up to £2,000, while those with £10,000 to £49,999.99 would have earned £100. The current £200 offer is positioned as more accessible for investors with smaller pots, though buyers should still review all terms, fees and benefits before proceeding.

Interactive Investor markets a subscription-based pricing model rather than charging a straightforward percentage of assets. For a Sipp, the platform charges £5.99 per month for investments up to £50,000 and £12.99 per month for larger pots. A stocks and shares Isa accessed via a Sipp costs £9.99 per month for investments up to £75,000, rising to £21.99 above that. The cost structure can be attractive to investors with sizable portfolios, but it is important to compare ongoing fees against platform usage and other features.

The platform is noted for its research and educational content, with customers able to access market analysis and investment ideas as part of the package. In evaluating Interactive Investor, readers should factor in both the cashback incentive and the ongoing costs when weighing it against alternatives.

For those considering other options, Fidelity is running a separate incentive that scales with pot size: £300 for a £50,000 pot, increasing to £2,000 for a £1 million pot, with the offer running until 10 November. This contrasts with Interactive Investor’s £200 flat offer and may be more attractive to those with larger pension pots. Investors should verify any eligibility criteria and terms with each provider before transferring.

In deciding whether to open or transfer a pension to Interactive Investor, readers should assess not only the cashback but also the total cost of ownership, the availability of advice and research tools, and how the platform handles pension transfer values and potential interruptions to existing benefits. While cashback can provide a short-term boost, long-term value depends on charges, services and the fit with individual investment goals.