Vanguard SIPP - Now open!!!

[Deleted User]

Jupiter55 said:

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

Yes you do (it does not matter what fund you invest in the tax relief is added).  I recently transferred one of my pensions into a Vanguard SIPP (also happens to be one of their Target Retirement Funds). 
 For subsequent contributions I have made, the tax relief is showing on my account dashboard although the money takes a few weeks to come through from HMRC and has yet to actually be applied to the pension.  You can see all pending tax relief transactions on the "Cash Statement" tab on your online account summary.

Albermarle

Jupiter55 said:

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

You are mixing up the SIPP and the FUND . They are two separate entities.
A SIPP is just a admin and tax wrapper ( in the jargon ) . Whatever money you pay into it attracts tax relief.
An investment fund is held within the SIPP . Wether it is a 'targeted retirement fund' or any other kind of fund it has no bearing on the tax relief .

dunstonh

Jupiter55 said:

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

The fund is not an issue.  Tax relief is on the pension. not the fund.

macman

dunstonh said:

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.

I've had a 4 SIPPs transferring since 28/2. The quickest (Aviva) took 3 weeks, the slowest (Scottish Widows) is still not completed. HL and LV= took over a month. Obviously some providers are having staffing problems at present, but others are just dragging their feet. Who is the company you are transferring from? Given market volatility at present, this is a white-knuckle ride, and you really don't want to be out of the market when it's rising. 
All credit to Vanguard, their online support via the secure messaging facility has been first rate, with same-day response. Much better than phoning.

Albermarle

The quickest (Aviva) took 3 weeks

When I transferred from Aviva ( not to Vanguard) it took less than 48 hours , so it seems likely some of the delay is at the Vanguard side .

macman

Not in this case. The transfer application was sent to Aviva by Vanguard within 48 hours of my requesting the transfer. Some providers still insist on signed paper authorisations, and then send the funds by cheque, which greatly extends the transfer time. SW appears to fall into this category.

Mistermeaner

How are people finding vanguard? I was tempted to jump on board transferring my 300K pot from a prior workplace pension to them (all into VLS100) but based on advice from another thread it looks IWeb can offer exactly the same thing at a lower cost - I had naively assumed that vanguard would discount their fund charges in their own wrapper but apparently not...

Why are people choosing vanguard when all of the funds offered are available elsewhere at a lower cost?

Albermarle

I had naively assumed that vanguard would discount their fund charges in their own wrapper but apparently not...

Vanguard funds are the same cost whichever platform you use . To be fair they are pretty low cost anyway .

Why are people choosing vanguard when all of the funds offered are available elsewhere at a lower cost?

They are mainly only cheaper on certain platforms that are not that widely known or heavily marketed to the public.

Plus Vanguard has a simpler offering/charging structure that suits inexperienced investors. 

In fact it is cheaper than the more popular platforms , but with less choice.

jackhulk

Mistermeaner said:

How are people finding vanguard? I was tempted to jump on board transferring my 300K pot from a prior workplace pension to them (all into VLS100) but based on advice from another thread it looks IWeb can offer exactly the same thing at a lower cost - I had naively assumed that vanguard would discount their fund charges in their own wrapper but apparently not...

Why are people choosing vanguard when all of the funds offered are available elsewhere at a lower cost?

Can you link to 'another thread' please so I can have a read about IWeb?

badger09

jackhulk said:

Mistermeaner said:

How are people finding vanguard? I was tempted to jump on board transferring my 300K pot from a prior workplace pension to them (all into VLS100) but based on advice from another thread it looks IWeb can offer exactly the same thing at a lower cost - I had naively assumed that vanguard would discount their fund charges in their own wrapper but apparently not...

Why are people choosing vanguard when all of the funds offered are available elsewhere at a lower cost?

Can you link to 'another thread' please so I can have a read about IWeb?

I don't think there is a specific thread about IWeb  but it is mentioned frequently.  

Advantages are that there is a one off £25 account opening fee, then £5 charge per trade (buy/sell) but no ongoing platform charge. So, it works out much cheaper for lump sum investors, those who don't trade often, and for larger portfolios. IWeb doesn't offer every fund you might want to invest in, but does offer Vanguard Lifestrategy & other Vanguard funds.

Have a read here and come back if you have any specific questions
https://www.iweb-sharedealing.co.uk/share-dealing-home.asp

EDIT
Just realised your question is on the Pensions subboard. My comments about charges above relate to S&S ISA and GIA. SIPP charges are detailed on website