Recommendations for SIPP platform for Small Pots

NedS

Hi all,

I'm looking to open another small SIPP with a view to keeping it below £10k and taking it in a few years time as a Small Pot (to avoid invoking MPAA).

So I'm looking for recommendations for SIPP platforms that allow Small Pots to be taken. Low/no fees, and no charges (interest would be nice!) for holding cash as I may well just leave funds as cash for the short period it will be there.

I already have a SIPP with HL and I know they will split off £10k to make a Small Pot to facilitate this. Just covering my bases in case they were to stop allowing/doing this. Top of my short list at the moment is Fidelity. Any offering incentives for opening a new SIPP would be nice.

dunstonh

A stakeholder pension may be a viable option here.

[Deleted User]

Vanguard.  (But don’t hold in cash. Buy bonds, if you want FI). 

P.S. why do we have a minimum character threshold? 

NedS

Deleted_User said:

Vanguard.  (But don’t hold in cash. Buy bonds, if you want FI). 

Thank you. What bonds would you recommend I buy (I assume you mean individual bonds rather than a bond fund or index tracker) given I'm likely to be adding £300/month (plus tax relief) over ~2 years to build up the pot and would want to withdraw the small pot in around 4-5 years from now.

Albermarle

Deleted_User said:

Vanguard.  (But don’t hold in cash. Buy bonds, if you want FI). 

P.S. why do we have a minimum character threshold? 

AFAIK , Vanguard do not offer the facility to make a withdrawal under small pot rules .

OP - HL, Fidelity & AJ bell are your best bets . All will let you withdraw under the small pots rule and all are % chargers .
I do not think any offer interest on cash , or only very low rates anyway .

NedS

Albermarle said:

Deleted_User said:

Vanguard.  (But don’t hold in cash. Buy bonds, if you want FI). 

P.S. why do we have a minimum character threshold? 

AFAIK , Vanguard do not offer the facility to make a withdrawal under small pot rules .

OP - HL, Fidelity & AJ bell are your best bets . All will let you withdraw under the small pots rule and all are % chargers .
I do not think any offer interest on cash , or only very low rates anyway .

Thank you. Yes, Fidelity seems top of my list so far (as I already have my main SIPP with HL).

I read on their website they currently do not pay interest on cash balances but were hoping to resume as soon as interest rates rise. HL are the same.