Vanguard SIPP - Now open!!!

Mick70

If I get a debit card payment set up this afternoon for say £4k , ive no idea if this will count as this years allowance ?

Mick70

has anybody opted for "the retirement target fund"  rather than trying to select their own funds ?

markinyo

Mick70 said:

has anybody opted for "the retirement target fund"  rather than trying to select their own funds ?

Yes I did, TRF2040.

Mick70

!!!!!!.. got through to final stage to make card payment and says that cash would be available to invest on next business day ,  i think this would mean monday 7th and in which case would miss the annual allowance And govt top up ... nevermind 

Dazed_and_C0nfused

Are you sure about that?

Investing money is nothing to do with when a pension contribution is considered to have been made.  Plenty of people never invest their pension contributions, they just pay them get the tax relief and leave them as cash.

dunstonh

Mick70 said:

has anybody opted for "the retirement target fund"  rather than trying to select their own funds ?

Clearly lots of people have when you consider the amount invested in those funds.  I don't like them though.  They start off higher risk than the average consumer.  Then drop down at an earlier rate than is usually necessary until they end up lower risk than the average consumer.  And then they charge you more for it.

!!!!!!.. got through to final stage to make card payment and says that cash would be available to invest on next business day ,  i think this would mean monday 7th and in which case would miss the annual allowance And govt top up ... nevermind 

You don't need to make the investment selection today.  You just need to place the money into the ISA/SIPP.  Most providers are taking card payments through to Saturday.  I would be surprised if Vanguard have failed this on a working day with 2 clerical days to go.     Have you perhaps mixed up terminology?  Any money put into an S&S ISA/SIPP now would not buy a UT/OEIC fund until the next working day (i.e. Monday).  Did it perhaps say it about the investments and not your contribution?

Mick70

was def the pension, have just paid in and it is opened, thanks,  only £6k paid in mind , but shows the govt £1.5k top up  - wife just finished books and profit for 2019/20 was 8k .

aj9648

Different question on Vanguard SIPP - I transferred on the 28th Feb but transfer still has not gone through.  Have other people had theirs go through yet?  I cant get hold of anyone on the telephone either !!!

dunstonh

aj9648 said:

Different question on Vanguard SIPP - I transferred on the 28th Feb but transfer still has not gone through.  Have other people had theirs go through yet?  I cant get hold of anyone on the telephone either !!!

cash transfers from the quickest providers take 3-5 days.  From the slowest ones about 3 or so months.

Jupiter55

hi , do you still get the tax relief added to your contribution from the government for the targeted retirement fund SIPP. I am looking at the 2030 fund