Self-Invested Personal Pension / SIPP

Help & FAQs General FAQs
1

Do you plan to offer Self Invested Personal Pension accounts?

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2

Hi!

We are looking to offer SIPP in the future, however we can’t give a precise timeframe for when that will become available to clients.

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3

For what it’s worth, as long as an InvestEngine SIPP was as cost effective as your ISAs are, I’d switch platforms to you guys immediately.

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4

@0x26res @Christopher – Great to hear the demand is there!
Can I be a bit cheeky and put a few other question out there.

Are you looking to:
a) Open a brand new SIPP
b) Transfer in a existing SIPP (In-specie asset transfers i.e. transfer without selling assets)

if b) Transfer in a existing SIPP. What other sorts of Assets would you look/expect to be able to transfer?

  1. ETFs only
  2. Mutual funds
  3. Shares

Be great to here your views!"

5

SIPP is the next big move for InvestEngine IMO and I’d move over immediately for an in specie transfer when that’s announced…

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7

If there was the option for in specie transfers (from Vanguard) I’d likely move everything over to InvestEngine. If not, I’d just keep my existing SIPP pot and then start paying into a new one with InvestEngine.

My interests are investing in mutual funds and ETFs, generally staying away from shares.

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8

@tom.winterton

Ideally I’d like to transfer an existing ISA. I’m interested in ETF/Mutual funds (low fees, diversification) and preferably accumulation products instead of dividends.

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9

I’ve been looking at SIPPs for a family member. She would need to transfer a fairly small stakeholder pension in cash. Then invest invest in either tracker funds or ETFs, ideally at the moment at the rate of contributions of £50 per month. As things stand now her best options would appear to be either AJ Bell DODL or Vanguard. Vanguard would be better, except that monthly contributions are a minimum of £100 which is a bit of a stretch for her. There must be a lot of people with low incomes that could benefit from the right SIPP.

Hope this gives some insight into where the competition is and helps to formulate where
a low cost SIPP might be pitched initially. Incidentally they both charge 0.15% p.a. platform fee although DODL has a minimum fee of £1 per month.

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10

@stehuk

Thanks for your feedback. SIPPs will hopefully be delivered sooner rather than later.

In-species transfers is something we are working on and will aim to deliver very soon also. Both will certainly help a lot of people.

In the meantime, enjoy the rest of your week and happy investing : )

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11

Any rough estimate on when it might become available?

I don’t have an account with InvestEngine, I have a SIPP elsewhere and am looking to transfer ETF in specie to a cheaper account.

I also have a flexible ISA account elsewhere, if InvestEngine ISA becomes flexible, I’ll also transfer ETF in specie.

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12

i have a 25k pru and a 20k work pension to transfer if/when IE start it up plus i will pay in monthly.
i have a managed and diy portfolio with IE and i hope to transfer a 20k cash isa.

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13

We are currently working to roll out SIPPs as well as in-specie transfers. Keep it here for new on the two additions in the coming weeks!

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14

Thanks @PaulGichemi for the update. That’s excellent news. Is there a way for users to ask for ETFs or stocks to be added to the platform? When SIPPs become available, I’d like to transfer SMGB ETF which isn’t available on IE. The fund page is London Stock Exchange | London Stock Exchange

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Absolutelty @nvng ! You can share your suggestion here or submit it to our support team.

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16

SMGB ETF is currently being considered for addition.

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17

Thanks @PaulGichemi for acting so promptly. BTW do you have any update on Flexible ISA? I’d like to transfer ISA when it becomes flexible. I normally don’t withdraw from and redeposit to ISA often, I only withdraw from ISA as a last resort, it’s important that I can redeposit without affecting ISA allowance.

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@nvng The team is continuously listening to client feedback and is aware of the demand for Flexible ISAs. We can not give a precise date for this addition just yet though.

19

Thanks @PaulGichemi for the update. I hope Flexible ISA would be available soon so I could transfer ISA to IE.

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20

Presuming that a SIPP product would have the same usability and cost effectiveness as your ISAs, I’d move across my pensions in a heartbeat.

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21

If your looking to add SIPPs are you looking to add Lifetime ISAs at some point aswell?

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