Best SIPP with no regular payment requirements?

grumiofoundation

pluto2010 said:

Thanks for replies.

Will do some research into fiedilty an HL. 

I can afford £25 a month minimum, any more and il be a bit worried about the commitment.

Fidelity charges £45 per year if you don't have a regular savings plan and have less than £7,500. So if there is a possibility you will cancel the regular payment then fidelity might not  be the best option. 

 https://www.fidelity.co.uk/services/sipp/fees-and-charges/

dunstonh

pluto2010 said:

Thanks for replies.

Will do some research into fiedilty an HL. 

I can afford £25 a month minimum, any more and il be a bit worried about the commitment.

Is there any reason you are specifically looking at a SIPP and not other types of pensions?  SIPPs are generally positioned as the most advanced option for those with more money.

Stakeholder pensions would have been the more suitable product for you but they have been effectively sidelined by the robo-providers.   What reason is it that you don't want or have eliminated the robo-providers for your pension?

zagfles

pluto2010 said:

Hi,

Ive finally got to a financial situation where I can start looking to invest into a SIPP.

I pay into a company pension and getting the max company contribution with that. It’s a ok pension but want something additional that I can put in overtime payments when I get some.

I’ve looked at vanguard but the initial deposit plus regular minimum monthly deposit isn’t something I can afford to loose on non overtime months.

is there a SIPP product that has a minimal initial deposit and no monthly requirements?

I would like something with 100%stocks or 80%stock 20%bonds. I haven’t got the skill for individual stock investments so would like to invest in the ftse and s and p 500 for example or a all world product.

many thanks

What makes you think Vanguard requires monthly payments? It doesn't. You can put lump sums in, I think you need to put at least £500 in to start with, not sure if further lump sums have a minimum, check with them, but you definitely don't have to set up monthly payments.

MovingForwards

I'm currently paying £10pm into a vanguard SIPP and make ad-hoc debit card payments of a couple of quid.

The S&S ISA is £5pm via my debit card.

I'll increase both again once I've finished paying my car off this tax year.

ian16527

I have started a Vanguard SIPP with £50

penners324

PensionBee, Hargreaves Lansdowne, Nutmeg, etc etc

midlandsimon

Just look for something simple and easy for you to use and manage. At the starting level you have costs are not a huge issue yet. 

dunstonh

penners324 said:

PensionBee, Hargreaves Lansdowne, Nutmeg, etc etc

Only one of those is a SIPP.

pluto2010

dunstonh said:.

Is there any reason you are specifically looking at a SIPP and not other types of pensions?  SIPPs are generally positioned as the most advanced option for those with more money.

Stakeholder pensions would have been the more suitable product for you but they have been effectively sidelined by the robo-providers.   What reason is it that you don't want or have eliminated the robo-providers for your pension?

Oh, I thought private pensions were just called SIPPs. Will have to research a bit more and look into this. Thanks for the info.

zagfles said:

What makes you think Vanguard requires monthly payments? It doesn't. You can put lump sums in, I think you need to put at least £500 in to start with, not sure if further lump sums have a minimum, check with them, but you definitely don't have to set up monthly payments. 

From the vanguard key docs
” Your initial lump sum Contribution must be at least £500. The minimum Contribution under a regular savings plan must be £100 per month. ”

As much as I like vanguard, I already hold my main saving pot with them so don’t want all eggs in one basket situation

I quite like the initial look of pension bee, can’t remember what put me off them a few months ago but will have to look into that

itsmeagain

pluto2010 said:

From the vanguard key docs
” Your initial lump sum Contribution must be at least £500. The minimum Contribution under a regular savings plan must be £100 per month. ”

So, doesn't that mean that you can pay lump sums any time you want without any regular monthly payment?
Not sure that the monthly comment is for pension (it says savings)!
Have you found if you work pension is salary sacrifice and can you pay more in?