Anyone got a Vanguard SIPP?

MK62

As title really.......can anyone offer any observations/tips/advice/review etc on the Vanguard SIPP.

I'm currently looking to move a relatively small (£40k) SIPP in readiness to withdraw from it next tax year.......current platform charges for drawdown and UFPLS.....and Vanguard looks like a promising prospect.........

jim8888

I don't have their SIPP but I do have a big part of my pension stuffed into their Lifestyle (?) 80/20 fund. I'm really pleased with the performance, the fees and the relative peace of mind it gives me, having switched from a variety of "guesswork" funds that I used to kid myself I knew what I was allocating in to. Oh yes, buy some gold. Or maybe convert into cash? However, Global Health looks like a safe bet, maybe 10% into that? Or what about Agriculture, people will always need to eat? I know I'm now probably too much into Tech funds with the 80/20....or do I? Maybe I don't have enough there, looking at Scottish Mortgage..... seriously, who knows what will happen in the future?  Pick Vanguard for their low fees. That's why they're a better bet than many.

Money_Mad

MK62 said:

As title really.......can anyone offer any observations/tips/advice/review etc on the Vanguard SIPP.

I'm currently looking to move a relatively small (£40k) SIPP in readiness to withdraw from it next tax year.......current platform charges for drawdown and UFPLS.....and Vanguard looks like a promising prospect.........

I could be wrong but I don’t think Vanguard currently allow drawdown from a SIPP, although it is something they are likely to offer in future 

Knock_Rock

They have recently introduced drawdown from the sipp.

cloud_dog

MK62 said:

As title really.......can anyone offer any observations/tips/advice/review etc on the Vanguard SIPP.

I'm currently looking to move a relatively small (£40k) SIPP in readiness to withdraw from it next tax year.......current platform charges for drawdown and UFPLS.....and Vanguard looks like a promising prospect.........

I don't know if it is worth it but, Fidelity don't charge for draw down and they don't apply their charges on the cash holding.

One thing to investigate, certainly with Fidelity and possibly Vanguard, is if there are penalties for opening a SIPP and then drawing down all the money within 12 months of opening the SIPP.  I think (???) Fidelity may well have a condition like this. 

Costabit

Have had a Vanguard SIPP since inception ( wasnt it Feb ? ).
For me , its simple enough and gives me my wanted Lifestrategy 60 fund at a cheap price, which I contribute to most months by debit card.
The only slight admin issue I have encountered , is on occasions,  the debit card transaction fails at the Vanguard end without informing me. Meaning the next time I login, my account shows a pending charge which I have to authorise again, so I always check the transaction after a few hours , in case it hasn't gone through.
I haven't used the drawdown service yet so cant comment on that aspect.

L9XSS

Yes have a Vanguard SIPP. The website is easy to use and I find it straightforward to pick and choose my funds. I have approximately 40k invested in VLS and some efts. I’m happy with the performance/charges.

barnstar2077

I too use their SIPP.  I had one issue where I was confused about what to do by their website.  I contacted them and they changed the wording.

If you plan on using their funds anyway, then they are cheap enough and get the job done.  Like jim8888 I started by trying to build my own global group of diversified funds, but I was constantly second guessing myself.  I still do, only now I know that I can't go too wrong by just paying into a VLS fund and forgetting about it, which stops me meddling!

MK62

Thanks for the replies.......good that you find the website OK and easy to use.....I really don't want another "ITI" like site........it's probably too soon for anyone to have made any pension withdrawals from them, so I guess I'll either have to bite the bullet or go with HL who are actually pretty competitive for a small SIPP in drawdown.....that said, they are still 3x the price of Vanguard.
I suppose I can always transfer out again if it's really bad, but I'd obviously prefer not to have that hassle.

easterbunni

I opened one at the end of November and set them off transferring in most of the cash from my Royal London workplace pension. Money invested this morning.

Apart from RL looking like they closed the whole thing and sending me a raft of paperwork telling me my RL pension is now 'paid up' when it isn't and should definitely still be accepting the money from my employer, it was quick and fairly painless.

barnstar2077

Couldn't you just open one with some cash to see what it is like before you transfer?  Be warned the initial funding from a debit card will take a day before it is available.