SIPP no fee

chrismriley

Hi
I want to open a SIPP and pay on salary sacrifice. I won’t be investing in stocks and shares , instead the money will sit there until i draw it down at pension age, so my SIPP will be “cash only”

My question is do you know which companies do mot charge a fee for this plus that I don’t need a financial advisor

many thanks

ColdIron

Is your employer willing to pay into your SIPP? Most won't because of the administrative overhead of dealing with dozens of pension companies

Hargreaves Lansdown might fit your bill

Prism

Probably most SIPPs don't charge for holding cash. Youinvest and Hargreaves Lansdown do not.

Albermarle

Fidelity do not and pay a very small amount of interest.
Vanguard pay a better rate of interest but then deduct from it.

I won’t be investing in stocks and shares , instead the money will sit there until i draw it down at pension age, so my SIPP will be “cash only”

This is probably not really a good idea and the government actively advises people not to do this, although without knowing your full circumstances it is difficult to be sure. 

MX5huggy

You can’t really pay in to a SIPP by Salary Sacrifice. Unless maybe you own your own limited company. 

SIPP comparison https://monevator.com/compare-uk-cheapest-online-brokers/

dunstonh

You can’t really pay in to a SIPP by Salary Sacrifice. Unless maybe you own your own limited company. 

It wouldn't be salary sacrifice in that example as a shareholding director wouldn't want to reduce their income as it would take them below the primary threshold and stop them from qualifying for the state pension.  A shareholding director would just use employer contributions.