Pensions Platforms
Discussion
I use Fidelity for my SIPP, only invest in ETF's to take advantage of the capped platform fees, that may or may not be a consideration for you.
Happy with Fidelity though I would have no issue using other established platforms including AJ Bell or Vanguard (albeit Vanguards offering is limited to their products only).
Happy with Fidelity though I would have no issue using other established platforms including AJ Bell or Vanguard (albeit Vanguards offering is limited to their products only).
I moved my SIPP to Fidelity several years ago. It's not the cheapest platform (but it's not particularly expensive either). In my experience it provides good value.
Before choosing a SIPP platform, I'd suggest looking carefully at the small print regarding what happens when you begin to take your pension. Will there be extra drawdown charges? Does the platform offer all the income options you might want (Vanguard doesn't sell annuities, for instance)?
Minimising cost is very important, but it shouldn't be the sole factor.
Before choosing a SIPP platform, I'd suggest looking carefully at the small print regarding what happens when you begin to take your pension. Will there be extra drawdown charges? Does the platform offer all the income options you might want (Vanguard doesn't sell annuities, for instance)?
Minimising cost is very important, but it shouldn't be the sole factor.
C69 said:
I moved my SIPP to Fidelity several years ago. It's not the cheapest platform (but it's not particularly expensive either). In my experience it provides good value.
Before choosing a SIPP platform, I'd suggest looking carefully at the small print regarding what happens when you begin to take your pension. Will there be extra drawdown charges? Does the platform offer all the income options you might want (Vanguard doesn't sell annuities, for instance)?
Minimising cost is very important, but it shouldn't be the sole factor.
A fair point actually - I will cross check that - its pretty standard offerings (I cant see me doing an annuity for example) my SIPPs are on. Basically a hodge podge of employers rather than concious decisions.Before choosing a SIPP platform, I'd suggest looking carefully at the small print regarding what happens when you begin to take your pension. Will there be extra drawdown charges? Does the platform offer all the income options you might want (Vanguard doesn't sell annuities, for instance)?
Minimising cost is very important, but it shouldn't be the sole factor.
Thanks all for the advice
C69 said:
I moved my SIPP to Fidelity several years ago. It's not the cheapest platform (but it's not particularly expensive either). In my experience it provides good value.
Before choosing a SIPP platform, I'd suggest looking carefully at the small print regarding what happens when you begin to take your pension. Will there be extra drawdown charges? Does the platform offer all the income options you might want (Vanguard doesn't sell annuities, for instance)?
Minimising cost is very important, but it shouldn't be the sole factor.
Just adding to the Vanguard point, it's not that easy setting up UFPLS drawdown either with Vanguard as I understand it, apparently takes a couple of phone calls for each payment... Happy to be corrected, but discovered this after moving there for their cost/reputation.Before choosing a SIPP platform, I'd suggest looking carefully at the small print regarding what happens when you begin to take your pension. Will there be extra drawdown charges? Does the platform offer all the income options you might want (Vanguard doesn't sell annuities, for instance)?
Minimising cost is very important, but it shouldn't be the sole factor.
Whereas with Aegon (my other provider) it can all be done online, so I might be consolidating in the opposite direction to which that I'd intended.
I've had several hundred pounds in "good will" (compo) from Aegon in the past due to their appalling system, RetireReady, as it was a complete dog. Credit where its due, i'm now using their "digital" one and its very good, and cheap. Perfect for a company pension. As the poster above says, i'd originally planned to pull OUT of Aegon but now may consolidate into it.
I'm also with AJBell, HSBC InvestDirect, Vanguard, and have used HL.
Vanguard support is great, but the platform is restrictive in terms of availability and also no automatic monthly purchasing (auto invest) from cash held in the ISA/SIPP which is a bit annoying.
AJbell does auto invest, which is the cheapest way to buy ETF with them as its £1.50 per auto trade.
H&L i found confusing and expensive.
InvestDirect is a tenner per quarter and it looks like it came from the 1990's, limited fund selection, and is pants. Not "the" pants, just pants. And probably insecure if i was to poke around a little.
I'm also with AJBell, HSBC InvestDirect, Vanguard, and have used HL.
Vanguard support is great, but the platform is restrictive in terms of availability and also no automatic monthly purchasing (auto invest) from cash held in the ISA/SIPP which is a bit annoying.
AJbell does auto invest, which is the cheapest way to buy ETF with them as its £1.50 per auto trade.
H&L i found confusing and expensive.
InvestDirect is a tenner per quarter and it looks like it came from the 1990's, limited fund selection, and is pants. Not "the" pants, just pants. And probably insecure if i was to poke around a little.
I’ve been with HL since 2008 and my children have their SIPPS with HL. I think their charges are expensive compared to others but if you set up regular payments then the buy trade costs are removed.
Their platform, support and features are good enough for me and I use it along side my Simplywall street subscription for my research (and a work Bloomberg account).
Their platform, support and features are good enough for me and I use it along side my Simplywall street subscription for my research (and a work Bloomberg account).
Slightly off topic, but is anyone able to recommend a platform for UFPLS (taking smaller, e.g. monthly 25% tax free, 75% tax paid amounts), and preferably monthly (i.e. like getting 'paid') ?
I moved one pension pot to Vanguard but UFPLS appears not to be available online, only after a couple of phone calls and a quote. I'm not sure if this is a one off process to setup regular payments, or is required for every payment.
My other pension is with Aegon and UFPLS is available online, but appears limited to 2 payments from the pension 'contribution' account or 12 payments a year from a drawdown account.
I moved one pension pot to Vanguard but UFPLS appears not to be available online, only after a couple of phone calls and a quote. I'm not sure if this is a one off process to setup regular payments, or is required for every payment.
My other pension is with Aegon and UFPLS is available online, but appears limited to 2 payments from the pension 'contribution' account or 12 payments a year from a drawdown account.
Edited by Dashnine on Thursday 12th September 11:37
Just something to keep in mind depending on your age - some pensions come with a protected right to access at a particular age.
That can be something worth holding onto especially as some will let you access other pensions transferred into that pension.
SIPPs tend to move with national minimum pension age so it might be 55 or 57 or something else depending on your age and timelines.
That can be something worth holding onto especially as some will let you access other pensions transferred into that pension.
SIPPs tend to move with national minimum pension age so it might be 55 or 57 or something else depending on your age and timelines.
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