SIPP Transfer Neil Woodford Equity Income

Billxx

Hi, having taken advice from an IFA, I am transferring various pension pots into a single provider. One of these pots is a small SIPP. Approximately 25% of this pot is invested in Neil Woodfords Equity Income fund. As you may be aware this fund has been suspended from trading, initially for 28 days but could be longer.

Since the SIPP provider will not be able to sell the 25%, I assume that they will only be able to transfer the remaining 75%. It is not big deal as it is a small pot, just wondered if anyone has any idea if my assumption is correct.

Cheers,

Bill

wjr4

Usually that is fine but it is best to ask the provider.

Dox

If it's only a small pot, why not wait until the Woodford position clarifies?

Malthusian

As it's a SIPP, check you would not be paying additional transfer out charges if you did a partial transfer then a full one.

As Dox says, it seems far easier to me to just leave it where it is until the Woodford fund has either re-opened for dealing or been wound up. Unless you are desperately in need of the cash, or something.

Billxx

Yep, I guess it may be easier to leave it there, there is no rush.

HardCoreProgrammer

Pension transfers may not necessarily involve selling the investments and then buying them again.
Please check with them if the transfer is "in specie". If yes, there is no selling and buying, just a change of fund ownership registration, and the transfer may be able to proceed.