moving SIPP into USS Investment Builder

Tarama

Hello 

I have asked USS related questions here before and received lots of great suggestions. 

Thus onto another USS related question.  About 18 months ago I retired from a HEI and took my USS pension.  Shortly after this I returned to work part time (about half of a FTE post)  in another HEI and rejoined USS.  I currently contribute to the IB and recently increased my contributions in line with the RIB decreased payments - for me this now equates to 26% of my salary.    I consider myself very lucky to be in a position to do this and more importantly to very much enjoy this work.  

The sums involved are small and what I want to find out about is:  I have a small SIPP in HL (£14,500).  I am in the (very lengthy) process of moving the SIPP funds into the USS Investment Builder and am minded to put this sum into the Liquidity Fund.  In my first USS pension I have left some funds in this and at the moment they are increasing by about 4% - which I am very happy with.  

So my question is I know the treatment of this £14K will differ compared to the USS IB.  There  there are fund charges for the transfer into the IB (the HL SIPP), so can anyone tell me how to work these out and/or where to locate this information? 

My USS pension is £32K and I earn £23K in my current post second  I plan to remain working PT for at least the next 5 years - if my health lets me.  I am 63 and will collect my full state pension at 66 .  

Many thanks in advance.

NickBFS

If you look under Investment Builder/Fund information when logged in, there is a pdf on each of the fund and, in the pdf, you will find a little "fund facts" box on the right that tells you what the fees are ('fees before subsidy') for that fund.

Tarama

NickBFS said:

If you look under Investment Builder/Fund information when logged in, there is a pdf on each of the fund and, in the pdf, you will find a little "fund facts" box on the right that tells you what the fees are ('fees before subsidy') for that fund.

Thanks for this NickBFS - I have located this and also found a document about the IB rules. So the investment charge is 0.10 (Liquidity fund) - fees deducted monthly (applied to the transfer in amount and any investment growth)  and transfer cost  is 0%.   

I think this is less than the HL fees and I want to do this transfer because the sum is small and I would not be adding to it over the next few years.  Hoping this is the best strategy.

Tarama