Are there any news / updates with regards to when will IE accept transfers in for pensions for providers other than Vanguard? I heard / read somewhere that this will be happening before the end of the present year. Is it the case? Thanks in advance for your help.
1 Like
Hi, thanks for reaching out! At the moment, we donāt have a confirmed date for when we will start accepting pension (SIPP) transfers from providers other than Vanguard. We understand thereās been some anticipation around this, and itās something weāre actively working on but thereās no official timeline just yet.
If this changes, weāll be sure to update our clients through our usual channels, so feel free to keep an eye out for future announcements. Appreciate your patience and interest!
Itās pretty appalling this still isnāt possible yet. It was a year of coming soon promises, followed by a rush to go after Vanguard when they upped their fees. Clearly it was not ready for launch.
Then everyone was dropped into stock replies about transfers coming soon again, and itās knocking on the door of nearly two years. Anyone wanting to transfer frankly needs their head testing at this point 
The one thing invest engine have managed to demonstrate is they seemingly have no idea of their timelines or canāt get a grip on delivering. That canāt and shouldnāt give anyone confidence about handling important financial products.
1 Like
I am also disappointed that this was talked about so much and then effectively given up on. If you are desperate, however, the route in would be to transfer your pension to vanguard first and then transfer to IE. Yes itās another faff and you may pick up some one-off fees, but it gets you where you want to go. Tempted myself but was always told that direct transfers were ācoming soonā
3 Likes
Same with paying into a Pension from a limited company. Long promised, nothing but stock āComing soonā, āWeāre working on itā answers.
As a coder myself, at this point Iām pretty sure none of these things are in active development. I understand not knowing roughly how long something takes at the start of a project, but if youāve been working on it for this long you should at least have an idea of the challenges you face and how to overcome them.
2 Likes
Iām of same opinion as yourself, and have started to wonder if I shouldnāt transfer out to another provider. This "12th of Never " horizon has worn itself out
2 Likes
I have seen comments elsewhere from investengine saying they are apparently allowing transfers in from more providers than Vanguard and then slowing increasing it but this is available to a limited amount of people at the moment.
Itās surely in their interest to allow transfers in for customers who use actively managed funds as they charge a percentage fee. So not sure why they wouldnāt want to get this feature out as soon as possible.
I do like investengine and how it works so wonāt be leaving but yes this is the most frustrating thing at the moment for me.
Iād think itād be wise to question whether your pension in IE is the best option, as the way it currently stands whilst you can transfer in-specie INTO IE, getting it back out requires you to sell everything.
They have been promising in-specie our for years. Quite frankly I wouldnāt trust them with a bargepole. It benefits them more to offer in-specie in, but not back out.
Donāt do business with people like this, future you will be grateful
Yeah, Iām already starting to regret putting my money here, I may just take the hit and actually move it to Vanguard