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  • FIRST POST
    • anselld
    • By anselld 18th May 19, 10:13 AM
    • 6,275Posts
    • 6,088Thanks
    anselld
    Anyone using Share Centre SIPP in drawdown?
    • #1
    • 18th May 19, 10:13 AM
    Anyone using Share Centre SIPP in drawdown? 18th May 19 at 10:13 AM
    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?
    Last edited by anselld; 18-05-2019 at 10:58 AM.
Page 1
    • Albermarle
    • By Albermarle 18th May 19, 1:38 PM
    • 727 Posts
    • 416 Thanks
    Albermarle
    • #2
    • 18th May 19, 1:38 PM
    • #2
    • 18th May 19, 1:38 PM
    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
    • By anselld 18th May 19, 2:26 PM
    • 6,275 Posts
    • 6,088 Thanks
    anselld
    • #3
    • 18th May 19, 2:26 PM
    • #3
    • 18th May 19, 2:26 PM
    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 ?
    Originally posted by Albermarle
    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.
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