Cheapest broker for SIPP

silver145

Hi all,

Looking for the cheapest broker for SIPP - probably putting it into vanguard index tracker (unsure of the life strat 60 or 80 yet)

Looking to reduce charges from the start

(current investments are via cavendish)

Thanks

Futuristic

I signed up to BestInvest, was paid £84 in cashback from TCB as well (already paid out in few weeks)
http://www.topcashback.co.uk/bestinvest-brokers-limited/

http://www.bestinvest.co.uk/the-best-sipp/low-cost-sipp-charges

Depending on your age, if you still have a good few 20+ years to go then LS80 is probably the way to go.

silver145

27 Here, at what point would it be to transfer to a fixed rate SIPP from BI?

(will sign up at BI btw, thanks for input)

grey_gym_sock

either bestinvest, or cavendish's fund supermarket pension, will charge 0.3% a year for a SIPP (+ the cost of the funds you pick, e.g. lifestrategy).

however, i think BI have quite high exit charges, and cavendish have none. which might explain why BI are happy to pay cashback?

you would need about £40,000 or £50,000 before it's worth looking at a fixed-rate SIPP.

an alternative to a SIPP (small or big) is a personal pension - e.g. see the various PPs which cavendish also offer. most of these have a single charge covering both the pension wrapper + the funds you hold. that could easily work out cheaper than a SIPP holding lifestrategy. they won't actually offer lifestrategy in a PP, but they will have other trackers which allow you to do something similar.