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cheap SIPP which accepts funds from employer (salary sacrifice)
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Freetrade is the cheapest SIPP out there but no salary sacrifice in. Is it worth that much? I have no choice but to accept my employers own pension for that, but I will transfer it out at a later date. In todays market I am paying into cash funds anyway every month.
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I have a fidelity pension and my employer pays into this via salary sacrifice0
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Jaguar_Skills said:I have a fidelity pension and my employer pays into this via salary sacrifice
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.0 -
Grumpy_chap said:happypie said:I am looking to open a SIPP (personal pension) which can accept ad-hoc gross payment from employer (salary sacrifice money).
I believe Vangaurd is cheapest option out there, however checked with them and they won't accept money from employer.
I am only going to invest in some ready made portfolios (for example if it was vanguard, i would have chosen life strategy, if it was nutmeg, I would have chosen unmanaged portfolio which has 0.45% magament fee), so you probably get the idea. lowest fees, least involvement are my preference, plus must accept ad-hoc payments (direct debit won't do) from employer.
Please let me know which ones I should look into.
Cheers.
Are you a Director of own Ltd Co?
Are you an Umbrella Company employee?
Your situation of wanting to make payments from employer on ad-hoc basis (or even regular) is one I was in a while back. My pension fund was (and still is) held within a NOVIA wrapper but, AIUI, NOVIA will only deal via an Adviser and you cannot work direct. My original Advisor would not facilitate the employer contributions so I changed to an Advisor who would. Not had any issues with the way it all operates, get regular updates from the Advisor and the fees are lower through this Advisor than the former one.
Not recommending the NOVIA, nor can I say whether they are "low cost" or not, but just sharing my experience as this is one option that exists.
No, I am not a director of own limited company - otherwise Vanguard would be my choice as it allows payment from employer if you are director.
My employer's choice for workplace pension is the people's pension, however the people's pension charges are quite high (total 1% - 0.5% magagement and 0.5% fund), however my employer is happy to put salary sacrifice money in any pension scheme of my choice as long as it can accept ad hoc online transfer.0 -
AJ Bell drawdown charges:
- One-off payment of a tax free lump sum or one-off income payment - £25 + VAT
- Regular income drawdown payments - £100 per annum + VAT
Are these charges reasoable?
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happypie said:AJ Bell drawdown charges:
- One-off payment of a tax free lump sum or one-off income payment - £25 + VAT
- Regular income drawdown payments - £100 per annum + VAT
Are these charges reasoable?
In some cases, that can make AJ Bell cheaper. In others it can make it more expensive.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.1 -
My employer's choice for workplace pension is the people's pension, however the people's pension charges are quite high (total 1% - 0.5% magagement and 0.5% fund)
I think you have misunderstood and the charge is only 0.5% for everything. Then discounted as your funds grow buy up to 0.3%.
Pretty competitive .
Member management charge | The People's Pension (thepeoplespension.co.uk)
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Albermarle said:My employer's choice for workplace pension is the people's pension, however the people's pension charges are quite high (total 1% - 0.5% magagement and 0.5% fund)
I think you have misunderstood and the charge is only 0.5% for everything. Then discounted as your funds grow buy up to 0.3%.
Pretty competitive .
Member management charge | The People's Pension (thepeoplespension.co.uk)
i think previousy it used to be 0.5 and 0.5 for both management and fund charge.
however now management charge is just 2.5 pounds per annum, which is great.
yeah checking with people pension if they would accept ad hoc online transfer from employer.0
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