Sippdeal - have I misunderstood?

GDB2222

I am quite taken with the Sippdeal charges. I seem to pay nothing to start it and no annual admin fee. I then pay £50 to transfer in my existing pension and then £30 max to put all my money into a single share. I then leave it for 20 years untouched. Will sippdeal really run this thing for me for 20 years without any charges, or have I misunderstood?

cheerfulcat

But that would be a daft thing to do...and what about any dividend payments? Future contributions?

EdInvestor

GDB2222 wrote:

I am quite taken with the Sippdeal charges. I seem to pay nothing to start it and no annual admin fee. I then pay £50 to transfer in my existing pension and then £30 max to put all my money into a single share. I then leave it for 20 years untouched. Will sippdeal really run this thing for me for 20 years without any charges, or have I misunderstood?

If that's absolutely all you're going to do, that's correct.

Not sure that it's very wise to invest your pension in only one share, mind.;)

Will this share pay a dividend?

If it does, then the money will get paid into your cash account, where it will earn interest, at varying rates depending on the total amount.If you never invest this money in anything else,there will be no cost.

If you allow it to accumulate and then buy some more shares with it, you will pay a dealing charge, plus stamp duty, as usual.

It's entirely under your control how much you pay.