We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
SIPP risk in current cliimate
chrismriley
Posts: 22 Forumite
Hi
I have a SIPP pension which I don’t trade from.
It is with a company that is FCS protected up to £85k. My question is- is this at risk due to current economic issues in UK or should I stop worrying knowing I have up to £85k protection? thanks for any help
I have a SIPP pension which I don’t trade from.
It is with a company that is FCS protected up to £85k. My question is- is this at risk due to current economic issues in UK or should I stop worrying knowing I have up to £85k protection? thanks for any help
0
Comments
-
There is no change in the risk. You hold the same funds in the same quantities. You money is still not available to the platform should the platform go bust. If the platform charges as a % then its income goes down, but it can increase prices if it needs to. The FSCS cover carries on the same paid for by all regulated financial services companies, but as has been explained many times is very unlikely to be called upon assuming you are investing in the mainstream.2
-
For clarity if the investments within the SIPP go down, there is no compensation for that.
That is just part of normal investment risk that the value can go down as well as up.0 -
It is with a company that is FCS protected up to £85k.Are you on about the investments or the platform provider?My question is- is this at risk due to current economic issues in UK or should I stop worrying knowing I have up to £85k protection?Nothing going on at the moment is creating any difference in risk to the administrator. Perhaps a bigger electric bill and wage increases to cover.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards