Can anyone tell me why there is cash showing in pension?

Jaguar_Skills

As the title suggests, can anyone tell me why there is approximately £2800 in cash in my fundsnetwork pension?

I have only ever invested money into Vanguard 80 and Blackrock 100.

Is this just cash that is waiting to clear, or money I have made back from the investments? If so, should I be withdrawing it? Doesn't seem to make sense as I wanted it all to be contained in my tax wrapper?

Jaguar_Skills

Also, one other question I have is that the new fidelity site has a performace column which shows how well your investments have done over a period of time. Under mine it just shows £0.00 is this because of an error with the site do people think?

dunstonh

As the title suggests, can anyone tell me why there is approximately £2800 in cash in my fundsnetwork pension?

Either you or your adviser controls your holdings. Have you got it set up to pay dividends into your cash account?

Is this just cash that is waiting to clear, or money I have made back from the investments?

Have you invested any money in the last fortnight?
Or did you forget to invest the tax relief once it was paid (I don't believe FNW prefund tax relief).

If so, should I be withdrawing it? Doesn't seem to make sense as I wanted it all to be contained in my tax wrapper?

Are you old enough to draw it? What impact will it have on your financial planning if you crystallise it?

Under mine it just shows £0.00 is this because of an error with the site do people think?

I just checked someone on there and theirs is showing a column called unrealised gain/loss. That is zero on theirs. So, either it is a new feature they are working on (a lot of platforms are running updates over this week) or it is currently down. The YTD return figure is working.

I dislike FNW's software. Its clunky and old fashioned compared to other platforms.

Jaguar_Skills

dunstonh wrote: »

Either you or your adviser controls your holdings. Have you got it set up to pay dividends into your cash account?

I just checked this and I have set it to automatically reinvest.


Have you invested any money in the last fortnight?
Or did you forget to invest the tax relief once it was paid (I don't believe FNW prefund tax relief).

On the 11th of each month I deposit £600 split between the two funds 50/50. I also made a deposit of £10,000 once my bonus was paid in September/October time?

I don't know what the second element would entail. I just set this up a few years ago and have done little with it. Would there be something on the settings to invest tax relief?



Are you old enough to draw it? What impact will it have on your financial planning if you crystallise it?

No, I am 31. So Yes completely forgot I wouldnt be able to withdraw.


I just checked someone on there and theirs is showing a column called unrealised gain/loss. That is zero on theirs. So, either it is a new feature they are working on (a lot of platforms are running updates over this week) or it is currently down. The YTD return figure is working.

I dislike FNW's software. Its clunky and old fashioned compared to other platforms.

I have just seen that when clicking on the information that this currently isn't working for investments in pensions.

I agree it isnt easy to work around.

I would use another platform but I cant work out when I started investing and how much has been invested so something within the platform that automatically calculates it would be much easier.

dunstonh

I suspect it is your tax relief. That arrives a few weeks later and goes into the cash account rather than follow your investment instruction.

Jaguar_Skills

dunstonh wrote: »

I suspect it is your tax relief. That arrives a few weeks later and goes into the cash account rather than follow your investment instruction.

So will it eventually get reinvested?

dunstonh

Jaguar_Skills wrote: »

So will it eventually get reinvested?

No. it will wait until you invest it.

SIPPs take more work than personal pensions. Every time you make a contribution, you need to check back a month or two later to invest the tax relief.

Jaguar_Skills

Ok that’s irritating, will need to get that done. Just not sure how it works in that platform.

greenglide

I have just seen that when clicking on the information that this currently isn't working for investments in pensions.

I thought that the performance data had never been available for SIPP holdings? It is just that the new layout actually enables you to press the the button (and get 0.00% back).

Normally investments into a SIPP cause the tax relief to be invested in the same manner as the original providing, I assume, that the original transaction had the original payment into the SIPP into the fund and not into the cash account and then invested separately.

AlanP_2

My Fidelity SIPP tax relief takes about 3 months to be credited back from hmrc to Fidelity.

Until then it shows as uncleared cash, once cleared it is automatically reinvested as per current new investment split across funds.

Jaguar_Skills

AlanP wrote: »

My Fidelity SIPP tax relief takes about 3 months to be credited back from hmrc to Fidelity.

Until then it shows as uncleared cash, once cleared it is automatically reinvested as per current new investment split across funds.

Thanks Alan.

Maybe I don’t notice it as never really look at it.