How does drawdown work in Interactive Investor SIPP?

shinytop

anselld said:

Mutton_Geoff said:

It's under the tab SIPP/Benefits/Lifetime Allowance

https://secure.ii.co.uk/webbroker2/app.sp#/sippAdmin#life_time_allowance

They've got mine wrong so sent a secure message to sort out.

Ah, ok I see it ...

crystallised & uncrystallised fund values

Your uncrystallised fund value is £x.xx

Not good news that they can get it wrong though.  Confusing to keep track of as well because this number will change purely through investment growth, not just when there is an income or crystallisation event.

The number will change with growth but won't the percentage be the same?  They have it wrong for me too or rather they say they don't have the information, which is odd because they used to.   

anselld

shinytop said:

anselld said:

Mutton_Geoff said:

It's under the tab SIPP/Benefits/Lifetime Allowance

https://secure.ii.co.uk/webbroker2/app.sp#/sippAdmin#life_time_allowance

They've got mine wrong so sent a secure message to sort out.

Ah, ok I see it ...

crystallised & uncrystallised fund values

Your uncrystallised fund value is £x.xx

Not good news that they can get it wrong though.  Confusing to keep track of as well because this number will change purely through investment growth, not just when there is an income or crystallisation event.

The number will change with growth but won't the percentage be the same?  They have it wrong for me too or rather they say they don't have the information, which is odd because they used to.   

That is correct.  The percentage would sty the same except when there is an income or crystallisation event.  So it means you either trust they have the number correct or you keep a separate record of the percentage and update that your self when there are income or crystallisation events.

It doesn't seem user friendly,  but I guess it is useable given the cost savings of using this platform.

coyrls

I didn't think I could contribute to this as I have a fully crystallised SIPP with ii but I discovered where you can get a breakdown of how much is crystallised and how much in not.  In my case my uncrystallised amount is £0.  You can find it under "SIPP" -> "Taking Benefits", then click on "start taking/amend your existing benefits" on that page,  you will then be taken to a breakdown of your crystallised and uncrystallised benefits.  I noticed that there are two different account numbers (differing by 1) for each pot, in my case the uncrystallised pot is zero.