Vanguard to launch UK's cheapest SIPP

Vanguard to launch UK's cheapest SIPP

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i4got

5,659 posts

79 months

Monday 27th April 2020
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dmahon said:
Even without timing the market, I just can’t get my head around why we have seen such a big bounce when there is a lot more to play out. I would rather miss out on further gains and re enter in 3/6/9 months when I’m investing rather than gambling on how the virus unfolds.
You may be right but bear in mind that there is little difference in taking a 20% loss to your portfolio and missing out on a 20% gain through being out of the market.

I took my SIPP into cash early Feb before any drops. It was all in Vanguard VWRL. I sold at around the £73 level. My view is that unless I buy everything back in at an average level less that £73 then I may as well have sold nothing and just rode out the losses.

So far I'm about 20% back in an average of £59.

I will drip the rest in gradually and should the worst come to the worst and there is another large fall, then at least I'll be starting the fall from a lower level.






chip*

1,020 posts

229 months

Tuesday 1st December 2020
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Good news, retirees now have another pension option with Vanguard who announced drawdown facility as part of the original 0.15% platform fee. Also, accept in-specie transfer so you can simply transfer your units/shares (without selling up for cash) on any existing Vanguard holdings.


https://www.vanguardinvestor.co.uk/articles/latest...

Spidersleg

679 posts

84 months

Thursday 31st December 2020
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Any more thoughts or experiences from those that switched?
I'm looking to transfer my small Scottish widows pension to something better.
I have an isa with vanguard and like how it's performed and how easy the site is to use.

red_slr

17,264 posts

190 months

Thursday 31st December 2020
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I have had no problems. They now have regular payment option too, which I will be setting up in January as logging on each month to make a payment in was not convenient.

Performance wise my SIPP has done about 3% better than my wifes which is with another supplier. However I was out of the market during the crash, which was a lucky break so cant compare really so will be 2021 before I could do a more thorough comparison.




Spidersleg

679 posts

84 months

Thursday 31st December 2020
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red_slr said:
I have had no problems. They now have regular payment option too, which I will be setting up in January as logging on each month to make a payment in was not convenient.

Performance wise my SIPP has done about 3% better than my wifes which is with another supplier. However I was out of the market during the crash, which was a lucky break so cant compare really so will be 2021 before I could do a more thorough comparison.
How long did it take to transfer ? I'm wondering if holding on til after April would be better. I need to put in a few quid before April, unless I put that in and then transferred.

chip*

1,020 posts

229 months

Thursday 31st December 2020
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Based another recent SIPP transfer, you would be looking at 8-12 weeks for a stock / in specie transfer. Cash transfer will be quicker, but you are out the market for the transfer period.

If you are planning to invest anyway, just open a new Vanguard SIPP account with your surplus cash to use this year's allowance, and then initiate the transfer instruction to move the old pension over.

Edit to add: Unless your existing pension are held in a Vanguard fund, you will have to sell your existing fund(s) for cash, and then submit a cash transfer via Vanguard who will liaise with your existing pension provider.





Edited by chip* on Thursday 31st December 13:57

mids

1,505 posts

259 months

Thursday 31st December 2020
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My transfer from an old company pension (with Aegon) into my Vanguard SIPP was pretty quick.

I just checked the dates, from me submitting the request to having the money invested in a Vanguard fund within my SIPP it took 14 days.

forest172

687 posts

207 months

Thursday 31st December 2020
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My Utmost pension took about 4 weeks in total to go into my vanguard sipp

red_slr

17,264 posts

190 months

Thursday 31st December 2020
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Spidersleg said:
How long did it take to transfer ? I'm wondering if holding on til after April would be better. I need to put in a few quid before April, unless I put that in and then transferred.
Mine was also about 2 weeks.

Spidersleg

679 posts

84 months

Friday 1st January 2021
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Thank you for the replies, I opened one in minutes and sorted the payments. Will get the transfer started soon also. Wish I'd done it sooner.