We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Protected Rights
shiredeon
Posts: 228 Forumite
Does anyone yet take protected rights funds for drawdown? or is it likely this year. thanks.
0
Comments
-
Selestia and Scottish Widows are two. There will be others but I havent researched that area recently so wont commit to naming any more at this point
It has to be in an insured contract at this time and will not occur in April 07 as expected. The Govt U turn made the press last week.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hmm, didn't get far with selestia, wouldn't deal direct, will try the widows.
or take a look at anuities. thanks anyway.0 -
Most providers wont deal direct. I doubt Scot Widows will either. Selestia is the best product on that front.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Latest news
Must say I have my doubts that the DWP people have actually grasped the problem that the failure to move on Sipps is going to cause with drawdown.
But no doubt they'll start hearing about it before too long
Trying to keep it simple...
0 -
the DWP people probably havent heard of protected rights or even pensions!! I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Right, H'Lansdown have sent me a form, apparently they have a special deal with the widows about P'Rights funds.
There is a limited range of funds, but still quite a few, commision to H'Lansdown is £300, and the AMC is between 0.78% and 2.027% ? whatever that means.
Should i entertain this or wait till someone takes P'Rights into a sipp, IE is it comparable as far as charges go,
I want to invest for income prior to my move to france next year, and are trying to tie up the loose ends, i could leave it to mature but the income would be usefull, because of my age an anuity would not be cost effective i doubt.
Thanks in anticipation.0 -
shiredeon wrote:There is a limited range of funds, but still quite a few, commision to H'Lansdown is £300, and the AMC is between 0.78% and 2.027% ? whatever that means.
What it probably means is that they charge you 0.78% if you invest in their own in-house funds and up to 2% if you choose external ones.
Which external funds are available? The fee to HL is reasonable assuming there are no other charges at Widows, which would need checking.
,Should i entertain this or wait till someone takes P'Rights into a sipp
Definitely worth investigating in more detail on charges and fund list.You can always transfer the money to a Sipp later when it becomes possible.Trying to keep it simple...0 -
EdInvestor wrote:What it probably means is that they charge you 0.78% if you invest in their own in-house funds and up to 2% if you choose external ones.
Does that mean 2% on top of the normal fund charges, and would that mean it would not be cost effective, or are these sort of charges the norm?.
Also is it more cost effective to have less funds, IE, if one fund charges 2% and another 2% does this culminate in double the charges or is it the same as the fund size would be split 50,50, if you see what i mean.
Sorry to be a bit thick, just trying to understand, thanks0 -
I'd have though the charge would be inclusive of fund charges, but ask HL. Makes no difference how many funds you have.Trying to keep it simple...0
-
HL are not discounting this much, if at all.
The scot widows contract is probably the personal pension. In which case, there are no charges on the wrapper and on the funds only. Internal funds would be cheaper than external.
The number of funds has no impact on the charges.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards