We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Anyone using Share Centre SIPP in drawdown?
anselld
Posts: 8,715 Forumite
My SIPP is currently uncrystallised with Aegon and over the coming year I will moving to phased flexi-access drawdown.
I am looking at the option to switch providers first in order to reduce ongoing fees. ( currently circa £1200p.a. with Aegon).
I am looking at Share Centre as an option in that ...
(1) Fees are fixed rather than %
(2) I already have my ISA there so convenient in one place.
I would be interested to hear any experience of how well their admin works for SIPP and also how the fees work in detail.
As far as I can see there is £60 pa admin. (I already pay frequent dealing on my ISA so would not need this again as it applies to all accounts)
One free crystallisation to drawdown per year (£225+Vat after but I would only need one max)
£195 + VAT pa for income drawdown.
So it looks like fixed fee of £294 pa. Or have I missed something?
I am looking at the option to switch providers first in order to reduce ongoing fees. ( currently circa £1200p.a. with Aegon).
I am looking at Share Centre as an option in that ...
(1) Fees are fixed rather than %
(2) I already have my ISA there so convenient in one place.
I would be interested to hear any experience of how well their admin works for SIPP and also how the fees work in detail.
As far as I can see there is £60 pa admin. (I already pay frequent dealing on my ISA so would not need this again as it applies to all accounts)
One free crystallisation to drawdown per year (£225+Vat after but I would only need one max)
£195 + VAT pa for income drawdown.
So it looks like fixed fee of £294 pa. Or have I missed something?
0
Comments
-
Some providers charge a transfer fee out ( Aegon ?) . Although most providers will accept a transfer in of crystallised funds , there might be an extra charge for this ?0
-
Albermarle wrote: »Some providers charge a transfer fee out ( Aegon ?) . Although most providers will accept a transfer in of crystallised funds , there might be an extra charge for this ?
Thanks, I will confirm with Aegon, but I cannot see a transfer out fee mentioned on their site.
Currently all uncrystallised and I will transfer prior to any crystallisation of funds.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards