How to transfer pension to SIPP

[tele_lover]

I've got some pensions with Scottish Widows and Aviva.

To be honest the returns have been very up-down. I think I'd like to just move them to a SIPP and invest it on the SP500. I just want to invest it and leave it.

What do I need to do to start the SIPP process? Does it need to be with someone like Vanguard? Trading212?

Any particular "product"/ETF I need to choose for the SP500?

[jfdi]

Choose your SIPP provider, open your SIPP and complete their transfer in paperwork, which will likely be part of the account opening questions. They will the arrange the transfer from your current pension provider. Once transferred choose your funds or individual shares and invest.

[Simpo Two]

tele_lover said:

I've got some pensions with Scottish Widows and Aviva.

To be honest the returns have been very up-down. I think I'd like to just move them to a SIPP and invest it on the SP500. I just want to invest it and leave it.

What do I need to do to start the SIPP process? Does it need to be with someone like Vanguard? Trading212?

Any particular "product"/ETF I need to choose for the SP500?

If you want a tracker then all trackers are pretty damn similar so I'm guided by lowest charge.

The investments currently in your pensions will have to be sold to cash if the new platform doesn't offer those products to enable an 'in specie' transfer.

Vanguard - you can only have Vanguard products, but they have some well-respected ones so that may not be an issue.

I wouldn't put the whole farm on the S&P500 but that's your choice and you may have other investments elsewhere to spread the risk.

[craig1912]

All returns are up and down and the vehicle your pension is in makes little difference.

What are your charges on your current pensions and are other funds available?

[C69]

Simpo Two said:

I wouldn't put the whole farm on the S&P500 but that's your choice and you may have other investments elsewhere to spread the risk.

This. OP, any particular reason for wanting the S&P500 only (rather than, say, a global tracker)?

Also, consider whether you buy a fund or an ETF. The underlying holdings won't be any different, but the platform you choose might apply different dealing and holding costs. Dealing costs in particular can quickly add up, especially if you're paying into the SIPP each month. Therefore, in terms of fund vs. ETF, I'd go with whatever is the lowest-cost option.