Transferring part of a SIPP?

kidmugsy

I have a Hargreaves Lansdown SIPP that contains two "arrangements", one crystallised, the other uncrystallised. Is it possible to transfer one of the arrangements to a different provider while leaving the other undisturbed? If possible, is it likely to be costly?

(Why might I want to? I'm not sure I do want to, but I'd like to know whether it's possible.)

kidmugsy

Wot? Not even a sneer of derision?

Aegis

kidmugsy wrote: »

Wot? Not even a sneer of derision?

Should be possible, but I have no idea what they would charge for it. What are you looking to accomplish?

kidmugsy

Aegis wrote: »

What are you looking to accomplish?

I ask myself that. Partly clarity - one will receive new pension contributions and be entirely uncrystallised, the other will be managed in income withdrawal. Partly eggs-and-baskets; I like the idea that if one gets problems - fraud, bankruptcy, computer system failure ... - the other can trundle on unaffected.

kidmugsy

I'm not the only person to see an eggs-and-baskets advantage.
http://boards.fool.co.uk/how-safe-is-a-sipp-provider-12743700.aspx?sort=whole

SippTechie

Yes you can is the simple answer.

There are a couple of restrictions on partial transfers, one of which is that you can't transfer part of a crystallised arrangement.

However you can transfer the whole of a crystallised arrangement. You can also transfer the whole of, or part of, an uncrystallised arrangement.

kidmugsy

SippTechie wrote: »

Yes you can is the simple answer.

There are a couple of restrictions on partial transfers, one of which is that you can't transfer part of a crystallised arrangement.

However you can transfer the whole of a crystallised arrangement. You can also transfer the whole of, or part of, an uncrystallised arrangement.

Many thanks, Sipptechie. A quotation from the thread at The Motley Fool has pretty much persuaded me:
"The real problem is if the SIPP provider had lost your money through either negligence or fraud. In that case you would only be covered by the FSCS investment compensation limit which is set at £50,000." That and my wife's desire for simplicity when I pop my clogs.


Now all I have to do is establish costs and decide on a new provider. Would anyone like to comment on either of these topics?