(Sipp) Self invested personal pension

Is this available now can you transfer a SIPP?

Will it be possible to just transfer cash element of my other pension into the IE sipp?
Want to leave my other holdings there as they’re individual shares amd mot ETFs.

Hi Lee - transfers in are not yet available, but it is the ā€˜final countdown’, pretty much… Make sure you’re subscribed to our e-mails to get notified upon launch :rocket:

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Such a tease! Come on now! :rocket::rocket::rocket:

Hi, I’m wondering when Invest Engine will supply the annual pension statement for those of us who can claim additional rate tax via self-assessment? Is there a date for that? Thanks.

@elina.sim are we taking final countdown SpaceX style or NASA style? Would be great to know a month as personally my finger is in the button as I need to get my money out of an expensive fund asap!

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Have the February HMRC rebates been delayed like the January ones? No sign of them yet.

When I emailed support about the January issues, I asked the same question about subsequent months and was assured there would be no issues (see below). However, I see no sign of mine yet either.


Thank you for your message.

Regarding your deposits made on the 21st of February and the 21st of March, there should be no issue with those.

Please let us know if you have any other questions.

Best wishes,
Aelita - Client Services

Very keen to get my expensive old Aviva pension transferred into Invest Engine!
Roll on the transfers! :slight_smile:

I’m leaving my Aviva where it is. Reading the endless messages on here is worrying. IEs reputation is in question

Sadly I’ve decided to instigate my Aviva pension across to AJ Bell. It will work out cheaper than IE but annoyingly I won’t have everything in one place.

I guess I can always move it again if needs be. It is what it is I guess.

You can create Reports yourself, I posted mine to HMRC on the 6th April :grin:

What exactly is it that is worrying you?

Where do I start….
Let’s go with the obvious - no profit or history, and awful communication.
Second; delayed tax relief, no employer transfers or balance transfers
If you’re ok trusting your pension with these, I wish you luck

Hello Carl, thanks for the feedback. We’re sorry to hear you’ve experienced awful communication, it would be great if you were to elaborate on this, so we can look into it further. The appropriate tax relief for the clients that have experienced a short delay has been applied and we’re currently working on providing employer contributions and transfers.

Here’s an article that I think you may find interesting; How we’re able to provide a free service – InvestEngine Insights

I haven’t personally had awful communication, but you only need to go up this thread a little bit to get a sense of the problem.
I also don’t recall you mentioning the time it takes to get tax relief when you launched the SIPP. Maybe I’m wrong?
Leaving customers wait around 3 for the tax relief is hurting returns. It’s not a short delay, and it’s been going on since the launch. Appreciate your working on this and the other things mentioned.

@DeeFunds -

2 points - there was no communication, awful would suggest there was some communication.

perhaps all those who’ve waited for tax relief can give you their time delay.

For me I put in funds on 12 Jan - I received funds shortly before 19 April (when I was able to invest the tax relief).

For me I won’t hit the Ā£60k limit for annual contributions - however, it is possible others might.
So 3 months is a long time.
By comparison I have a LISA with another provider this arrived in half the time (less than 6 weeks).

Just to chip in, I’ve been raising support tickets directly and in fairness, i always get a response, albeit not the response i would like.

So yes, the January tax reliefs were delayed (i got mine on the 18th April btw), and i was told that subsequent monthly deposits should not be affected by the same delays. Yet here we are again now in May, with no sign of my February deposit’s tax relief hitting my account by the scheduled 22nd-25th April.

Last week i raised the question again and was told that IE have not heard from their 3rd party of similar delays like the previous month, but as it was a new feature and apparently a ā€œbusy seasonā€, they could only apologise for a delay.

My gripe is that obviously there IS still an issue, and instead of partially blaming the 3rd party who handle the tax reliefs, they should either get it sorted, or get another 3rd party who CAN organise them in a timely manner. If someone asked me to paint their house, and i had an apprentice helping me out who made a mess of one room, i wouldn’t go back to the customer saying that it was the kid’s fault and expect them to be ok with it.

PS - tax reliefs should count towards whichever month the original deposit was made, so my late Jan, Feb and March amounts will count towards to the 2023-24 tax year allowance. despite them arriving months into the next tax year. Nevertheless, it’s annoying that we are finding ourselves waiting 10-15 weeks instead of the correct 6-11 weeks.

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Replying to myself here but, for anyone else interested; I received an email reply from IE stating that this specific report will be added to the ones that can already be generated. No date was given.

My response is to divert all future payments to other pension accounts, until it is available. One of my other SIPP accounts has already issued this report, so they’re top of my list.

Hmmm. Yes I see the problem. The account overview report (And the app window incidentally) shows the HMRC tax rebate as included in ā€˜net contribution’ .
Since I’ve only just got the Rebate today, running the report for ā€˜previous tax year’ gives me the correct ā€˜net contribution’ and I presume this will be OK for the purposes of self assessment.

But, not separating the ā€˜net contribution’ and ā€˜HMRC Rebate’ in the reports I can see as not being helpful… and factually incorrect. :face_with_diagonal_mouth: