Retired non earner £3600 annual SIPP

twokcc

Looking to invest about £3-4k p.a and if I understand the SIPP rules correctly I can invest £2880p.a in a SIPP to which taxman will add £720 to make a total amount to invest of £3600 and I can then draw out 25% each year so £900 tax free

This sounds like an excellent investment to make each tax year so that over 5 to 10 years could have a pot of between £18k to £36k (ignoring fees and any growth/losses) without any withdrawals.

Investment most likely to be FTSE 100 shares,so looking for low dealing charges and low exit fees if decide to withdraw 25% in any tax year.
Lowest charges from Martins article for my situation would appear to be BestInvest. Anyone had any experience of dealings with these before I commit myself to opening an account, and with there online service for buying/selling shares

bigadaj

Monevator will have a list of the various providers and their charges so have a look at that website, the articles on the main site here often tend to be out of date.

It woudo be far better to invest in a globally diversified fund, potentially a mixture of bonds and shares to reduce volatility, rather than ftse 100 shares.

Audaxer

Better to invest in a fund(s) rather than individual shares, and I wouldn't limit yourself to the FTSE 100.