Vanguard pension vs HL pension vs Others

Albermarle

Members can do this by transferring their retirement savings out of the Plan to their choice of external pension provider that offers this option.
What is not clear is whether this is a temporary situation whilst they develop a drawdown option , or whether it will stay like that .
Operating drawdown is an expense for the provider and some of the other low cost platforms charge extra for it.

jeelz

There's an article on the website 'moneytothemasses.com' which suggests that for a SIPP holding only Vanguard funds the cheapest platform will be Vanguard for a pot of less than £160K. Above this figure, Interactive Investor with it's fixed monthly fee as opposed to Vanguard's percentage based fee becomes cheaper.
Sorry , I can't post a link as I haven't been a forum member long enough.

waveydavey48

Thanks folks. I'm trying to clarify what fees I will pay given that I will be transferring my £170k pot and drawing from it when I need to but not buying any further units. Previous answers refer to making 12 purchases per annum. I don't plan on making any after the transfer. Given that, what would I pay for Vanguard SIPP ie just to transfer then draw down my £170k pot? Would it be 0.15% per annum and perhaps an initial transfer fee?
Thanks again.

buglawton

I recently invested in the Vanguard FTSE 250 tracker - it's an exchange-traded funds (ETF) product with 0.1% annual charge.

Noticed this new SIPP product just appeared from them, thought I'd research what the benefit of a SIPP is over a Tracker. Seems that SIPPs can own less regulated assets like property and unquoted companies. More risk?

On the sidebar of this page:
https://www.ftadviser.com/pensions/2020/02/19/vanguard-launches-low-cost-sipp/

...you see news of another SIPP collapsing. So that riskier approach means, don't put all your eggs in one basket I would say.

cloud_dog

waveydavey48 said:

Thanks folks. I'm trying to clarify what fees I will pay given that I will be transferring my £170k pot and drawing from it when I need to but not buying any further units. Previous answers refer to making 12 purchases per annum. I don't plan on making any after the transfer. Given that, what would I pay for Vanguard SIPP ie just to transfer then draw down my £170k pot? Would it be 0.15% per annum and perhaps an initial transfer fee?
Thanks again.

Why not transfer it to Fidelity, invest it 60% in to a global equities ETF, 40% in to a global bond ETF and pay £45pa platform charge and zero draw down charge?

Albermarle

Given that, what would I pay for Vanguard SIPP ie just to transfer then draw down my £170k pot?

To repeat - Vanguard SIPP does not currently offer drawdown , so your question can not be answered

waveydavey48

cloud_dog said:

waveydavey48 said:

Thanks folks. I'm trying to clarify what fees I will pay given that I will be transferring my £170k pot and drawing from it when I need to but not buying any further units. Previous answers refer to making 12 purchases per annum. I don't plan on making any after the transfer. Given that, what would I pay for Vanguard SIPP ie just to transfer then draw down my £170k pot? Would it be 0.15% per annum and perhaps an initial transfer fee?
Thanks again.

Why not transfer it to Fidelity, invest it 60% in to a global equities ETF, 40% in to a global bond ETF and pay £45pa platform charge and zero draw down charge?

Thanks, the short answer is I don't have the knowledge and therefore the confidence to do so at present. I'd like to learn though. Can you direct me to where I can research this please? 

djjd70

I started a Fidelity SIPP and Vanguard S&S ISA last summer. Had been thinking I'd stick with Vanguard funds and switch the SIPP to them when they started their SIPP. However, like the choice of funds on Fidelity now I'm getting more into understanding what I'm doing (including being able to invest more ethically) so will leave it be. Fidelity's 0.35% platform fee isn't bad. I chose it over HL at the time as HL is 0.45% and there was a charge to switch to another platform (which they've since got rid of). 

SoftCentaur

Albermarle said:

Given that, what would I pay for Vanguard SIPP ie just to transfer then draw down my £170k pot?

To repeat - Vanguard SIPP does not currently offer drawdown , so your question can not be answered

However, drawdown will be available in the 2020-21 Tax Year and will not have any extra charges to go into drawdown.

Sailtheworld

waveydavey48 said:

cloud_dog said:

waveydavey48 said:

Thanks folks. I'm trying to clarify what fees I will pay given that I will be transferring my £170k pot and drawing from it when I need to but not buying any further units. Previous answers refer to making 12 purchases per annum. I don't plan on making any after the transfer. Given that, what would I pay for Vanguard SIPP ie just to transfer then draw down my £170k pot? Would it be 0.15% per annum and perhaps an initial transfer fee?
Thanks again.

Why not transfer it to Fidelity, invest it 60% in to a global equities ETF, 40% in to a global bond ETF and pay £45pa platform charge and zero draw down charge?

Thanks, the short answer is I don't have the knowledge and therefore the confidence to do so at present. I'd like to learn though. Can you direct me to where I can research this please? 

It's the same research you undertook that led you to decide you'd plump for VLS60 or VLS40 if you moved to Vanguard just with significantly lower costs, the option of drawdown and using an established platform.