Employer contributions into SIPP - possible?

jamesd

Yes, SL are offering some Vanguard trackers in their GPP. SL normally doesn't allow partial transfers out. I asked my employer and they came to the arrangement that the first two transfers would have zero charge, subsequent ones £50 charge, £5,000 minimum to be left in the GPP. It was also policy that transfers out have to be advised - meaning pay an IFA - a condition waived for me because I already had a SIPP.

dunstonh wrote: »

HL's charges are going up soon

Going up or going different? Different is essential and I suppose they might try to increase their cut from half of the annual management charge along the way.

dunstonh

Going up or going different? Different is essential and I suppose they might try to increase their cut from half of the annual management charge along the way.

We cant tell yet. We know that their average take is 0.7% of funds under management. We know that the temporary tracker fees if applied to all funds wouldnt come close to being equivalent to 0.7%. How much of a hit HL decide to take is something we are all waiting to see. Are they likely to take the hit all the way down to their current tracker level charges? I dont see it.

Uglymug

I'm faced with the same conundrum. My employer makes it beneficial to contribute to their GPP scheme.
However all my contributions go to the GPP's cash fund. Once a year I initiate a transfer to my Sipp. I leave the minimum of £1.00 in the GPP's cash fund to keep it open ready for my next contribution.
I've opted for the GPP's cash fund because I don't trust any of their other funds - it's the only fund I'm almost guaranteed a positive return although they do keep moving the decimal point on the interest they pay to the left.