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  • FIRST POST
    • caveman38
    • By caveman38 8th Jan 18, 5:51 PM
    • 902Posts
    • 291Thanks
    caveman38
    Better use of cash in a SIPP
    • #1
    • 8th Jan 18, 5:51 PM
    Better use of cash in a SIPP 8th Jan 18 at 5:51 PM
    My wife has a SIPP and without moaning about the provider needs to utilise her deposit better.
    Being prepared to leave it as cash because she intended to drawdown within 5 years of opening it. Initially she was allowed to transfer the money within the SIPP to one of a few BS's etc. that allowed SIPP cash deposits and returned near 2%.
    Now however, rules have changed and fixed term deposits without a break clause are not allowed. This means only instant access accounts with BS's that allow SIPP deposits are allowed. Unfortunately this returns only 0.25% with a providers fee of 200+ or in the case of HL 0.05% and no fee for cash deposits.
    Does anyone know of any other way of staying in cash but improving the returns?
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