Anyone using Share Centre SIPP in drawdown?

anselld · 18 May 2019 at 11:13AM

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?

Albermarle · 18 May 2019 at 2:38PM

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 ?

anselld · 18 May 2019 at 3:26PM

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.

Anyone using Share Centre SIPP in drawdown?

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