SiPP with Employer Contributions?

Am I correct in stating that as of today the IE platform does not support a SiPP with Employer Contributions? Does anyone know whether this is planned going forward as I’ve a reasonably large SiPP I’d like to transfer but the SiPP is funded through a private Ltd company

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I just opened a SIPP to make contributions from my Ltd company and just found out I can’t. This is a big flaw if that’s a case. I think ii allow this so will be off there instead. :weary:

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I agree and it’s a shame as I like the IE platform and cost structure. Very easy through HL, but their costs are high hence wishing to transfer. Perhaps one day… :grinning:

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Hi all! Absolutely, I understand your concerns.

We’re actively addressing this issue and are committed to making employer contributions possible for all SIPP accounts. Our team is diligently working on the necessary adjustments and enhancements, including allowing pension contributions directly from companies.

While we can’t provide an exact timeline, rest assured, this feature is a top priority for us. We appreciate your patience and understanding.

I understand you can’t give a timeline but is it going to be 2024, 2025, in the next 3 years? The only thing making me use vanguard right now is the fact as a director I can’t contribute to my pension through the company. Other wise I’d switch to IE for life!

Hello, thank you for your feedback. We are currently working on this feature so we cannot give you a timeframe at the moment, but be assured that we will inform you when it is released

Hi,
Just wondering if there is an update to this at all?
Is there a target time line at least to say 6 months? A year?

Regards
Stephen

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Hey there!

Any best guesses at least? My company year end has passed now so lost that opportunity to get contributions in to here, pretty disappointing to say the least. Do you think I’ll get in time for next year?? :joy:
Cheers!

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Hi, a quick update on where we are on this. We’ve recently brought on board a new lead for SIPPs as part of our commitment to bring you the best products we can. He’s picked this up, and is currently working hard on designing the mechanism for allowing employer contributions.

As soon as we have more news to share, we’ll post it here.

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That’s good to hear.

Personally, I’ll transfer my SIPP to InvestEngine as soon as employer contributions become possible.

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Personally, I’ll transfer my SIPP to InvestEngine as soon as employer contributions become possible.

Ditto. The only reason I have a Vanguard SIPP is to allow for my limited company to make employer contributions.

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Hi, would you be able to share an estimated timeline for this, please? as in by the end of the month or more likely 3 to 6 months?

Would be helpful to know if I can wait a couple of weeks to open the SIPP with you or go to another provider that already has it in place.

Cheers

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Hi @sipper as soon as we can share a timeline we will. I understand it sounds like we keep repeating ourselves - but this is really all we can say for now. I know it’s frustrating, and once we have more news I’ll post it here.

To be fair, it’s a big flaw in your reasearch and planning, rather than a big flaw in the platform.

@Sisaket, hardly as most SIPP providers allow employer contributions, including the other no fee startup, so it’s sort of a given that anyone offering a SIPP would also have implemented it.

To top it up, InvestEngine have been saying they are working on it for a year now.

And unfortunately they have confirmed they have no clue when they will actually have it. So I have opened another SIPP with one of their competitors.

To be fair, your comment was pointless.

@sipper

To take anything as a ‘given’ when planning your investment strategy is dumb. Anyone who just assumes that a platform offers something, and proceeds to open an account on that premise without first checking it’s a fact, is well, pretty dumb.

The frustration is that things are being worked on… They’ve been worked on since starting the pension platform. With no timescale or plan.
Employer contributions are being worked on, Transfers are still being worked - But when a gap in a market opened with vanguard changing their fee structure… Magically… Transfers became available pretty much instantly from vanguard.
It’s a shame as its a good platform and people are desperate to put money into it, and the bit that’s managed to get sorted, is the one that takes customers from other platforms. Hopefully I’ll get to put some money in, but my year end won’t be far away, and I may miss it again with invest engine. I cant say for sure as there’s not even a best guess for when it will be ready been shared.
The money will go somewhere, there’s always a plan. It will be with another platform, but not the platform I wanted to use, signed up for, started a pension with, as employer contributions had been said will be a feature from the outset. I’ve just got another account that currently I don’t need.
Anyway… Maybe soon, fingers crossed. :joy:

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I have given up on this.
I have an ISA with Invest Engine where I will keep on adding too.
I will keep my SIPP with Fidelity at 0.35% platform charge
Tbh, I don’t it’s a good idea to have my SIPP and ISA with a platform that is currently loss-making and scaling -up.
I would happily have both with Fidelity due to the size of the organization.
Sometimes you get what you pay for.
And sometimes you get the occasional free-lunch which INvest Engines ISA seems to be.

I just discovered IE and tbh I’m in love with the service and the app. To the point where I’ve transferred all my household ISAs after a decade in Vanguard, holding most of our money.

I’d love to transfer our SIPPs too, but can’t do it till this is solved, since it’s the only way we get pension contributions.

Hi everyone, I’ve been checking this forum daily (sometimes every hour) to check if there’s been any update regarding paying money directly from my Limited company into a InvestEngine SIPP.

I’m coming to the end of my company financial year and I currently feel my best option is open a Vanguard SIPP on the Vanguard platform, this will cost me a maximum of £375 in platform fees each year plus £4 per month if I invest less than £32,000. So invest engine seems an absolute no brainer as I’ll save the above fees, but they don’t yet seem to offer this option to Limited company’s?

Im just pushing this comment to make it relevant to anybody in my situation that might be viewing the forum daily for updates, if anybody knows anything regarding this subject then please feel free to share as any information is appreciated.
Hopefully I’ve put this in the correct discussion forum