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Can I transfer my Skandia Pension to SIPP

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Comments

  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    dunstonh wrote: »
    Please can you describe what inferior investment options exist on say a personal pension with 100-300 funds?


    You'll pay more for the same selection of top quality funds in a PP, not least because you'll have a bigger AMC for the funds, plus extra implicit charges.

    And of course you have no other investment options ( eg shares, gilts, investment trusts, ETFs as you have in a SIPP at no extra cost).
    Trying to keep it simple...;)
  • dunstonh
    dunstonh Posts: 120,015 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You'll pay more for the same selection of top quality funds in a PP, not least because you'll have a bigger AMC for the funds, plus extra implicit charges.

    Not necessarily. You are making that assumption without checking it out first. In some cases you are correct but in many you are wrong.
    And of course you have no other investment options ( eg shares, gilts, investment trusts, ETFs as you have in a SIPP at no extra cost).

    In which case a SIPP is fine. Of course, that is what SIPPs were designed to be used for. Not investment funds.
    Lol..u can talk...sing from the same songsheet far as i can c..thankgdnes we hav Ed to balance things up

    So, you would prefer me and the others to promote SIPPs as being a low cost option when they are not?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • jem16
    jem16 Posts: 19,700 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    averageguy11 wrote: »
    Lol..u can talk...sing from the same songsheet far as i can c..thankgdnes we hav Ed to balance things up


    If that songsheet is entitled "I can see clealry now" then yes I do. ;)

    Ed promotes Sipps no matter what the circumstances are - how is that balanced?

    You use what is best suited to the job - PP, Stakeholder, SIPP or ISA. What you don't do is tell everyone to go for a SIPP as it's the cheapest when clearly it is not.
  • averageguy11
    averageguy11 Posts: 421 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Duns...

    So, you would prefer me and the others to promote SIPPs as being a low cost option when they are not?

    Dont think i said that at all.

    Jem16

    From the posts I have read..i need say no more
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