Minimum Hargreaves Lansdowne SIPP amount ?

Horracce

Hi all, can anyone tell me the minimum amount I can leave in a Hargreaves Lansdowne SIPP to prevent closure by HL ?

ColdIron

Do you have anything in the drawdown SIPP? If so they won't close the SIPP but just disable it. Mine is £0 for 11 months of the year

Horracce

I’m putting 2880 into the SIPP each year from now on to get the 720 added .. but my worry is when I withdraw via drawdown that they close either so looking for minimum amount to leave in  

etienneg

Minimum is £50.

ColdIron

If you do it via drawdown (not UFPLS) with monthly payments you'll be fine, they treat the accounts as a pair, and you'll always have money in one or the other. I do the £2,880/drawdown thing and as I say my SIPP is almost permanently £0 and has been for 7 years now. Next time you want to contribute just phone them and they'll temporarily re-activate the SIPP until you move the money

When I enquired several years ago there are no SIPP police waiting to pounce, they are not in the business of driving people away. I formed the strong impression that they are very light in applying whatever rules they have. 'We reserve the right' etc.

Again, the last time I looked at the T&Cs, there was mention of a minimum of £50 if it keeps you up at night

Horracce

Great thanks 😊