Looking to open SIPP with Interactive Investor

skippyd

Hi

I'm finally getting round to getting my pension started and was looking at II for their SIPP.

Is their cheap SIPP ok or is there trouble down the road?

I'm looking to contribute a sizeable amount from my own ltd company and it seems to get expensive with all the other providers.

Also if I'm making company contributions can I get my company to pay for the annual admin fees and the quarterly fees as business expenses?

[Deleted User]

What do you wish to hold within the SIPP and how often do you wish to contribute and likely value?

If you have the answer to this it will be easier to choose a platform as they all have charges for different elements.

As your SIPP grows a different provider may work out cheaper so nothing to stop you changing platforms.

Cheers

le_loup

skippyd wrote: »

Hi

I'm finally getting round to getting my pension started and was looking at II for their SIPP.

Is their cheap SIPP ok or is there trouble down the road?

Search on this site for II and III and Interactive Investors to find out what people think of their service.
They may be cheap - there is a reason.

dunstonh

What assets are you investing in that makes a SIPP suitable for you and not a stakeholder pension or a personal pension?

SIPP pricing will vary depending on the type of assets used. Some will have a focus on different types of asset and price accordingly.

There are some future pressures on SIPP providers which could lead to some having to change their pricing. So, it is a very fluid area and you should make sure there are no exit charges with your chosen provider.

Also if I'm making company contributions can I get my company to pay for the annual admin fees and the quarterly fees as business expenses?

No. Although some costs can be covered by the business on a qualifying auto-enrolment scheme. An individual SIPP is not an AE scheme.

skippyd

Hi I'm looking at holding funds mostly in my SIPP.

AJ Bell seem almost as cheap so are they much better. HL seem far too expensive for what really just amounts to a nicer website......once you get your pot into the larger portions......

AlanP_2

Sounds like you do not need a SIPP then.

A Personal Pension may be a better option. Have a look on monevator.com for comparison tables or the guide on candidmoney.com to see which platforms work out at reasonable costs for the sums and frequency of deposits you plan on making.

BTW - I use the Cavendish / Fundsnetwork PP and am happy with the range, price and service.

zagfles

skippyd wrote: »

Hi I'm looking at holding funds mostly in my SIPP.

AJ Bell seem almost as cheap so are they much better. HL seem far too expensive for what really just amounts to a nicer website......once you get your pot into the larger portions......

But they will negotiate on charges.