Vanguard SIPP charges

Costabit

Charges on my Vanguard SIPP will soon be due in Feb, as I have made several transactions this last few months, I am unable to work out how much will be charged.
I don't hold much cash in my Sipp currently so ideally would like to add cash to the SIPP before Vanguard sell any of my holdings
Does anybody remember if Vanguard give advance notice of charges ? or how long before payment is due ?
Many thanks

grumiofoundation

https://www.vanguardinvestor.co.uk/need-help/answer/how-do-i-pay-my-fees-

You can set up direct debit to take from bank rather than taking fees out the pension/ISA - although this way is more expensive than paying fees from within the pension since money in pension has tax relief added. 

Platform fee is 0.15% calculated daily on amount in pension so transactions made won’t make a difference but according to link below looks like you can find out from within account. 


https://www.vanguardinvestor.co.uk/need-help/answer/where-do-i-find-the-amount-ill-pay

saucer

You can set up direct debit to take from bank rather than taking fees out the pension/ISA - although this way is more expensive than paying fees from within the pension since money in pension has tax relief added. 

That is interesting. I would have thought that any cash added, including for fees, would be grossed up

trickydicky14

Hope you have better luck than I had setting up a DD.
I requested Vanguard set up a DD and it was set up wrong and did not work, they then sold some of my investment to cover this charge.
I had to ring and complain about this and it took them over a month to sort out.
I have not yet had money taken from the NEW DD so fingers crossed it works when I next need to pay fees.

sausage_time

DD setup was seamless for me (ISA, not SIPP).

Costabit

Am still hoping to avoid setting up a DD as would prefer to have the fees taken from within the SIPP as this has slight tax advantages. So think I will have to log on everyday and check the pending transaction tab and then quickly make a cash addition from my debit card. to avoid having to sell assets from within
I guess timing will be everything here

Albermarle

saucer said:

You can set up direct debit to take from bank rather than taking fees out the pension/ISA - although this way is more expensive than paying fees from within the pension since money in pension has tax relief added. 

That is interesting. I would have thought that any cash added, including for fees, would be grossed up

Some other providers have a cash account separate from ISA, SIPP etc that they take the fees from . You can add cash to that directly or take it from SIPP, ISA etc . If there is nothing in it then they look for cash in SIPP/ISA first and if none there than finally they will sell something.

Albermarle

Costabit said:

Am still hoping to avoid setting up a DD as would prefer to have the fees taken from within the SIPP as this has slight tax advantages. So think I will have to log on everyday and check the pending transaction tab and then quickly make a cash addition from my debit card. to avoid having to sell assets from within
I guess timing will be everything here

Seems a lot of effort to do it this way for what are not large amounts of money . Would it not be easier just to add enough cash to cover say 3 months charges and then no need to keep checking it ?

Costabit

Albermarle said:

Costabit said:

Am still hoping to avoid setting up a DD as would prefer to have the fees taken from within the SIPP as this has slight tax advantages. So think I will have to log on everyday and check the pending transaction tab and then quickly make a cash addition from my debit card. to avoid having to sell assets from within
I guess timing will be everything here

Seems a lot of effort to do it this way for what are not large amounts of money . Would it not be easier just to add enough cash to cover say 3 months charges and then no need to keep checking it ?

Yeah agree, and will start that next tax year definitely
 Have to check my figures for this year as pretty close to maxing out this years contributions though and wouldn't want to go over