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SIPP withdrawal/drawdown

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Comments

  • dunstonh
    dunstonh Posts: 120,912 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    A_T wrote: »
    Cavendish doesn't seem to.

    Fidelity offer it on their platform. So, this is not a platform issue but an intermediary issue. (Cavendish being an intermediary white labelling the Fidelity platform to make it appear like its their own).
    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.
  • Audaxer
    Audaxer Posts: 3,552 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    It seems strange to me that any platform where you can invest in a SIPP, is not able to allow clients to withdraw their money when necessary. I'm also surprised that anyone knowing this would invest in a SIPP with such a platform.
  • zagfles
    zagfles Posts: 21,684 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    Audaxer wrote: »
    It seems strange to me that any platform where you can invest in a SIPP, is not able to allow clients to withdraw their money when necessary. I'm also surprised that anyone knowing this would invest in a SIPP with such a platform.
    Lots of people have pensions which don't allow drawdown or the new freedoms, my works pension is one - it's not an issue till you reach the age at which you take money out, ie 55 currently. Then you can just transfer to a platform which does allow you to do what you want.
  • A_T
    A_T Posts: 975 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Audaxer wrote: »
    It seems strange to me that any platform where you can invest in a SIPP, is not able to allow clients to withdraw their money when necessary. I'm also surprised that anyone knowing this would invest in a SIPP with such a platform.

    It's also hard to find out what fees might apply if you transfer your SIPP out of Cavendish. So hard in fact I couldn't find any information about it on their website.
  • DesG
    DesG Posts: 1,291 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    A_T wrote: »
    It's also hard to find out what fees might apply if you transfer your SIPP out of Cavendish. So hard in fact I couldn't find any information about it on their website.

    No fee for transfer.
  • A_T
    A_T Posts: 975 Forumite
    Part of the Furniture 500 Posts Name Dropper
    DesG wrote: »
    No fee for transfer.

    Where does it state this?
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