Any SIPPs paying interest on cash?

ProDave

eastcorkram said:

ProDave said:

eastcorkram said:

Both HL and Fidelity definitely do. 

Please explain how, I have a SIPP (in drawdown) with HL and I was told by them there was no way to get interest on anything in cash.

No idea how, but I can assure you I have a cash balance in both, and it earns interest . In fact, the fidelity one is all cash. This money is not invested in a money market fund or anything. It's just a cash balance.

I need to have words with them.  I have just over £5000 cash in my SIPP at the moment, which according to the interest rate table above should be earning about 3.5% which would be about £200 per year.

All I can find on my account is "Interest and loyalty bonus £3.64"

ColdIron

Look at the Capital Account tab underneath the Transaction History tab

• Interest
• From 10/01/2024 TO 09/02/202

ProDave

ColdIron said:

Look at the Capital Account tab underneath the Transaction History tab

• Interest
• From 10/01/2024 TO 09/02/202

Thank you.  It's showing £18.15 there, which multiplied by 12 is what I would expect.  I had never noticed this before.  Sorry for being a bit thick.

LHW99

HL website is good, but they all have odd quirks where information you expect to be placed in an obvious position for access is somewhere in the depths and needs digging for (or someone to signpost).

There's usually someone here who knows, I find.

saucer

ii paying between 2.02 and 3.85 for cash depending on cash balance

bluenose1

Bestinvest paying 4.35% on cash SIPP, table of SIPP provider rates in below.

https://moneytothemasses.com/saving-for-your-future/investing/investment-platforms-paying-the-highest-interest-rate-on-cash

Roger175

Alternatively, could you not just put the money in a short term money market fund?