Limited company director's pension
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corky2
Posts: 88 Forumite
I've read all the threads so I'm happy with the tax, limits etc but I can't find a SIPP which accepts company pension payments (only PensionBee comes up and it's not a SIPP). I've looked at AL Bell(?) and that's for an employee pension payment.
Any ideas? Thank you
Any ideas? Thank you
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Comments
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I use Fidelity and have no problems with making 'employer contributions' from my Ltd company. Regular and ad-hoc payments are fine. I'm sure most providers are the same.1
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AJ Bell, Hargreaves Lansdown and Interactive Investor all accept contributions from a Ltd Co on behalf of a director.
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A J Bell definitely do, speaking as an ex contractor / company director. Just tell them it is an employer contribution when you make it.1
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but I can't find a SIPP which accepts company pension payments (only PensionBee comes up and it's not a SIPP).
That is strange as I would think it would be harder to find a pension/platform that would not accept employer contributions.
I suspect you are either misreading or misunderstanding what you are looking for.
Employer contributions are normal with virtually every retail pension.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
I currently use Vanguard & last year HL with no issues, just need to complete any joining/setup documentation.1
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I make company payments from my limited company into AJ Bell Youinvest. You need to set up the payments using traditional forms rather than all online.1
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Thank you all. I loathe pensions so all your responses made me grit my teeth and sort it out. I have set up an AJBell Youinvest SIPP.
@Prism - I managed it online as they had an option to say who was paying the contributions (my company). I called the helpline twice (application got stuck in their system first time and the lady got it pushed through) and the second time to request bank details. Really helpful. Just now battling with HSBC as the daily limit for transfers is £10k and I wanted to pay £25k by my year end tomorrow so may have to settle with £20k pension for this accounting period. (chaps and BACS is switched off on my bank account for some reason)
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You may want to double check if the daily limit is £10k? The single transaction limit for FP is £10k but some banks I've used allow a higher daily limit, i.e. Nationwide is £25k (with £10k single transaction limit).
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