Vanguard Capped Fees - Where taken from?

I've asked this on the pension board but without any clear answer so hoping there might be someone here that has experience.

I have my ISA and SIPP with Vanguard. A separate pension has just been transferred to my Vanguard SIPP and due to the total account value now I will benefit from the £375 pa cap on 0.15% account fees. As per the title does anyone know how this is calculated and where the fee is taken from if you have multiple accounts with them?

If the SIPP value is above the cap amount on its own, does that mean that the fee can come from there and no fees from the ISA? The Vanguard documentation isn't clear, just that the fee covers all accounts with them so if anyone has personal experience that would be helpful otherwise I'll have to contact them to clarify.

Remember the saying: if it looks too good to be true it almost certainly is.

Comments

  • Swipe
    Swipe Posts: 5,001
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    edited 11 December 2023 at 8:02AM
    Just checked my Vanguard history and before I had a GIA with them and just had a SIPP and ISA, the fees came from my SIPP. And my SIPP was smaller than my ISA.
  • jimjames
    jimjames Posts: 17,494
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    Swipe said:
    Just checked my Vanguard history and before I had a GIA with them and just had a SIPP and ISA, the fees came from my SIPP. And my SIPP was smaller than my ISA.
    Fantastic thanks. I would obviously prefer it to be the SIPP as that means with tax relief the cost will be that much lower. Seems no point paying from taxed income if I don't have to.
    Remember the saying: if it looks too good to be true it almost certainly is.
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