Sipp...fscs threshold linked to savings?
Supercalafragalistic
Posts: 138 Forumite
I would be grateful for advice on the following please.
Firstly...if i have a sipp with money within placed into deposit accounts ( lets say 85k into company a, 85 k into company b etc), and then in my ‘normal’ bank accounts, I have 20k in company a, have I gone over the fscs limit?
Also ,if this money was in a ssas under my company name, and the company has two members in the ssas , could we put 170k in company a (85 each) or just the 85, without it going over the threshol?
Thanks
Firstly...if i have a sipp with money within placed into deposit accounts ( lets say 85k into company a, 85 k into company b etc), and then in my ‘normal’ bank accounts, I have 20k in company a, have I gone over the fscs limit?
Also ,if this money was in a ssas under my company name, and the company has two members in the ssas , could we put 170k in company a (85 each) or just the 85, without it going over the threshol?
Thanks
0
Comments
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The limits are per person. You don't get more protection by adding extra accounts inside pensions, ISAs or anything else.
In the first case you'd be 20k over the limit.
In the second case each individual would get 85k so 170k would be 85k per person and within the limit provided neither had money in other accounts at the same institution.0
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