‘flexible contribution’ SIPP

Kellycsi

My SIPP pot is being eaten up by the admin fees, and at present I cannot make contributions.

The transfer/ set up costs on both ends will be easily be offset by the saving in admin fees in the time that I will be without contributions.

So, I am looking to transfer to a low admin fee ‘flexible contribution’ SIPP, where I can take a contribution holiday under my control.

Please let me have your applicable thoughts and experiences.

Kellycsi

dunstonh

Most SIPPs dont charge any differently if you do or do not pay in to it. Its the same charges regardless. The charges will depend on what assets you have within the investment. i.e. shares are often charged differently to funds. Are you sure it is the charges that are eroding the value and not the performance of the assets?

SIPPs are are in expensive way to invest typically for funds. So, if you are using funds then moving to a personal pension or SIPP should be cheaper.

Kellycsi

Thank you dunstonh,

My admin. charges for cash assets are considerable. You may have hit a good point in that a SIPP is not the correct vehicle

My take on the economy and the likely products available within even the most sophisticated SIPP, Leads me to believe that CASH is king for some time. Therefore I have cash (not cash funds) within my pot.

So I need a wrapper that will hold cash on deposit or at least able to hold cash on account as in BS certificates or gilts.

I would be interested on your thoughts, however I cannot change my mind on the near term (2/3years at least). I can't consider any fund purchases.

Thanks again,

Kellycsi

EdInvestor

Which SIPP provider are you using?
What charges are you paying for the SIPP?
What interest rate are you getting on the cash?

Kellycsi

Members, please post experiences with/ideas on flexible contribution SIPPs, it would be a bonus if they allowed cash on deposit only.

I am happy to research the fees myself, but feel free to add your comments on this too.

Kellycsi

averageguy11

answers to ed's questions?