The Pensions cashback and incentives discussion thread

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81843445#Comment_81843445

I can see from Freetrades website that they only do UFPLS withdrawals, but I could not find any mention of a charge for these?

UncleTomCobley

https://forums.moneysavingexpert.com/discussion/comment/81860562#Comment_81860562

Each UFPLS withdrawal from your Freetrade SIPP will cost £240.

https://freetrade.io/pension/sipp

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81860754#Comment_81860754

Wow, that is a hefty charge !

I looked at InvestEngine and they offer UFPLS and Flex access drawdown. I could not see any extra fee for withdrawals, unless it was well hidden away . On the other hand they are losing bucket loads of money, so would be a bit wary of overcommitting to them .

norton66

https://forums.moneysavingexpert.com/discussion/comment/81836084#Comment_81836084

Freetrade transfer campaign Term 16 updated? Possible interpretation hold to 6/4/27 now.

16. 

If, within three hundred and sixty-five (365) days following the Validity Period, you make a withdrawal or transfer which causes the value of your Relevant Account to fall below the amount of your Qualifying Transfers, or you close your Relevant Account, then Freetrade reserves the right to clawback, sell or cancel any Award or sell any shares held by us for you and/or deduct cash you account of an equivalent value to the Award, as permitted under applicable law.

granta

https://forums.moneysavingexpert.com/discussion/comment/81868352#Comment_81868352

This reads slightly differently to the previous wording I think? I didn't take a screenshot.

Not so bad as it does now make clear to hold until April 2027 which is better than the previous speculation that it could have meant until December 2027. My transfers in likely won't all complete by April 2026 anyway and we get the incentive by 5 December so only a few extra months to hold.

artyboy

https://forums.moneysavingexpert.com/discussion/comment/81868436#Comment_81868436

Even so, more than a bit naughty to change terms when people may have already completed their transfers. Not sure it would hold up against a complaint, if it did actually disadvantage anyone…

FIREDreamer

https://forums.moneysavingexpert.com/discussion/comment/81868860#Comment_81868860

The website is different to actual T&Cs …

https://freetrade.io/legal/2026-tax-year-end-offer

artyboy

URGENT PUBLIC SERVICE INFO ON FREETRADE CASHBACK

So… I was ALMOST caught out on the Freetrade offer from last year (the 3% one that is due to be paid on the 27th February). I was on a monthly billing cycle for the Plus plan, but the terms for that offer do state you need to be on the ANNUAL plan at the point where the cashback is paid. It's a nuance that completely passed me by.

I only picked this up as a result of some other correspondence I was having with them (and by the way, they are very quick to respond, unlike some other comments I've seen) and have updated my billing cycle - it means they get £120 out of me immediately, but more than worth it for the £1500 cashback.

Obviously it makes a nonsense of their planned downgrade to the free plan given I'm now paid up to Plus for a year, but I'll take the hit on that.

Suggest everyone else checks their billing pronto!

drob4

I started a SIPP transfer from Vanguard to Freetrade a couple of weeks ago (single fund, low 5 figures, many years until access).

Received an update from Freetrade telling me Vanguard were delaying the process because they were waiting for “stronger nudge confirmation”.

I hadn’t heard anything from Vanguard, so sent them a secure message. I got a reply back telling me they needed confirmation that I’d spoken to a financial advisor before they would process the transfer.

Ignoring the fact that Vanguard had to be prompted to send this request; is it a legal requirement for me to see a financial advisor for a SIPP transfer? I assumed this was only needed for a DB transfer.

MallyGirl

you don't need to at the generic level but Vanguard may have their own rules if the destination raises red flags for them