Which SIPP platform would suit best?

RNV

Hello,

 In the below context, which SIPP platform would suit best ?

1. Looking for a low charges platform that offers all drawdown options to transfer part of my current workplace DC pension in preparation set-up for early retirement  in ~4yrs at 55 (hopefully; but will continue OMY if the market dips);  
2. No experience as such (lots of recent reading only) but planning to DIY on a very simple level [2yr-ish worth in a money fund/cash; the rest 100% in a/combination of  All-World Index tracker(s) (I know I will have lots of criticism from the wise ones here for this solution); no more than 1 or 2 drawdown transactions per year]
3. Currently, the only DC pension is with Scottish Widows (have to keep open for SalSac); 
4. Total current value ~£380k
5. I’m fully aware this level of pension savings is inadequate for an early retirement (no other DC/DB pensions; will have full SP at 68). The plan is to achieve at least £600k [by £50k+/annum x 4 years =£200k+ additional SalSac contributions which I’m currently doing]. This will still be very tight (need at least £25k/year gross until SP, then reduced) but I’m prepared to go down a route of a PT work if needed to tide me over low market years happening at the beginning. This will not be the only income in the household and lump sums costs (a new car/roof repair etc) are covered elsewhere.

 Many thanks

xylophone

Have you tried

https://monevator.com/find-the-best-online-broker/

RNV

Thanks, have seen something similar (not on this particular site) and got lost in trying to cost compare. 

I believed I was better off with a fixed fee type (rather than % based) until I attempted adding other charges.  So was hoping somebody on here (IFA-type) who regularly deals with many of them could suggest a smaller list suitable for the specified expected requirements.

I will have another go using this list.  Thanks again.. 

Albermarle

IFA's tend to use platforms that are solely for use with advisors.
So the non IFA types/retail investors on here will probably give you a better steer.

Normally fixed fee is better if you have a big pot and are mainly invested in OEIC funds.
If you are mainly invested in ETFs then some % fee platforms have a low cap on fees.

the rest 100% in a/combination of  All-World Index tracker(s) (I know I will have lots of criticism from the wise ones here for this solution)

The main issue is have you got the risk tolerance to be able to see your funds go down up to 40% and not panic.
If you are certain that is not the case, and also ideally have some cash savings as a back up, then the strategy could work for you.

RNV

Thanks @Albermarle - type of funds is another cost angle I will have in mind

Re risk tolerance - I'll probably be still ignorant enough not to understand all SORR consequences long term so 40% fall will not be as scary for me as for somebody with lots of knowledge and many Montecarlo models....  Well, on a serious note, I will have to deal with those problems as/if they come (some fill-in PT work/ more rigorous budgeting (there is still quite a lot of  waste at the moment) etc) - an alternative to that is to have another 10 years of relatively good health and mind wasted at work which I'm desperately trying to avoid... 

Thanks again for your comments. 

Pat38493

For a fund 380K and growing, you probably want to look at a provider with fixed, or at least capped, fees.

I recently transferred one of my pensions to Interactive Investor to reduce the fees on a £220K amount - no complaints so far.