Cheapest Sipp: build yourself a low cost DIY pension article

harryhound

Reaper wrote: »

I am just in the process of moving my SIPP from HL to Sippdeal because HL's charges not only worked out higher for what I wanted to invest in but are about to get worse due to changes they are currently putting through. I suspect you too will find them cheaper based on what you are planning to invest in, but do read the charges sheets for both to make sure.

As to your question about service. HL's service was good. I can't comment on Sippdeal yet other than the transfer process which has been simple enough so far.

HL are charging me £0.5% on my SIPP.
I thought the increase only applied to the normal share/fund storage; as the SIPP's and ISA's were already paying a regular levy?

gadgetmind

harryhound wrote: »

HL are charging me £0.5% on my SIPP.
I thought the increase only applied to the normal share/fund storage; as the HIPP's and ISA's were already paying a regular levy?

It depends on what you hold. For funds which pay HL a commission, you won't pay any fees, but those commissions are hefty.

Bestinvest refund some of the commission but dunno about sippdeal.

The only case where I'd consider a HL SIPP is for a pot large enough for the £48 pa for using a Vanguard Lifestrategy tracker to be reasonable, or for one holding Investment Trusts, equities or ETFs where the £200 cap on the 0.5% diluted it away.

Reaper

gadgetmind wrote: »

Bestinvest refund some of the commission but dunno about sippdeal.

Yes SippDeal rebate some too. Neither or them are as generous with the rebates as Alliance Trust who rebate 100% but both are better than HL who rebate nothing.

Reaper

harryhound wrote: »

HL are charging me £0.5% on my SIPP.
I thought the increase only applied to the normal share/fund storage; as the SIPP's and ISA's were already paying a regular levy?

It applies to SIPPs too. Even my SIPP holding in a fund called "lindsell train uk equity" was about to be hit by the new platform fees because it wasn't paying them enough commission.

zinc1234

I have a small private pension pot of £7100 which on maturity (2026) with the present company will be worth £9010 paying an estimated £337/yr = £7/wk
I am on low earnings and get full rent and council tax benefit.
If I am still on these benefits (if they exist) in 2025 £7/wk will be worthless plus I will lose £7/wk benefit and end up no better off.
My idea is to invest the whole amount In a Sipp (sippdeal) paying no management fees and buy as many RBS shares as possible.
If RBS goes bankrupt I lose the pot but if they pick up over 15 years I stand to gain a pot of some value.
Ignoring the fact I could lose out on withdrawing 25% of current amount do you experts think this is a reasonable gamble?

dunstonh

If I am still on these benefits (if they exist) in 2025 £7/wk will be worthless plus I will lose £7/wk benefit and end up no better off.

You wont lose £7 per week benefit.

Plus, there are proposals to abolish pension credit. However, even if they dont, then £7 of income isnt going to be wiped out.

gadgetmind

zinc1234 wrote: »

I have a small private pension pot of £7100 which on maturity (2026) with the present company will be worth £9010 paying an estimated £337/yr = £7/wk

Won't you be able to take the whole lot under triviality? You don't mention any other pensions.

My idea is to invest the whole amount In a Sipp (sippdeal) paying no management fees and buy as many RBS shares as possible.
If RBS goes bankrupt I lose the pot but if they pick up over 15 years I stand to gain a pot of some value.
Ignoring the fact I could lose out on withdrawing 25% of current amount do you experts think this is a reasonable gamble?

Do you really have to ask?

liger78

Hi

Long-time lurker, first-time poster...

I'm considering transferring out of my employer-run pension scheme into a SIPP. Can anyone recommend a scheme that allows and enables investment in the following?

- Gold bullion
- Agricultural land

Also, can anyone tell me what happens if in future your SIPP provider goes bust?

Thanks in advance!

gadgetmind

liger78 wrote: »

- Gold bullion
- Agricultural land

Pretty much any SIPP will let you hold a gold ETF but I don't know of any agricultural land ETFs. However, these two should only be a part, and a small part at that, or your total holdings.

Also, can anyone tell me what happens if in future your SIPP provider goes bust?

Given your portfolio choice, it probably won't make any difference!

However, the real answer is that your SIPP provider holds assets on your behalf so there is little platform risk.

liger78

gadgetmind wrote: »

Pretty much any SIPP will let you hold a gold ETF but I don't know of any agricultural land ETFs. However, these two should only be a part, and a small part at that, or your total holdings.

Thanks, but I'm interested in actual bullion rather than ETFs. Bullion is explicity allowed by law, but I need to know which SIPPs support it. In terms of agricultural land and other commerical property, again this is allowed by law, but I need to know the mechanics of getting these into the SIPP.

Given your portfolio choice, it probably won't make any difference!

I have my own (non-mainstream) opinions about the prognosis for most conventional investments, hence my interest in a scheme where I can act on those beliefs. I won't be making any rash decisions but I want to know my options.

However, the real answer is that your SIPP provider holds assets on your behalf so there is little platform risk.

If they go bust do I automatically get access to my investments to transfer them to another provider or am I just another creditor?

Thank you for your help so far.