Hello,
I recently transferred my SIPP assets to InvestEngine, primarily motivated by your highly competitive, low-fee structure, especially the 0.00% platform fee. I am extremely satisfied with the investment environment for my existing pot.
However, as a Limited Company director, I rely on making employer contributions into my SIPP, as this is the most tax-efficient method. Unfortunately, I have learned that your platform does not yet support these direct contributions. This feature is crucial for Limited Company owners as these payments qualify for Corporation Tax relief and save on National Insurance (NI) contributions, making the overall pension funding process highly efficient.
Because this feature is missing, I am currently forced to maintain a separate SIPP (my previous one with Vanguard, which charges up to 0.15% for assets) purely for receiving my company contributions. This completely negates the benefit of consolidating and using your low-fee platform for all new money.
Could you please provide a realistic, even if broad, timeline or update on when the functionality for accepting direct employer (Limited Company) contributions to the SIPP will be available? Knowing a rough ETA would greatly help my financial planning and allow me to consolidate my entire pension pot with InvestEngine as soon as possible.