Annual subscriptions are here 🗓

[Cameron]

I’m disappointed that this change wasn’t used as an opportunity to allow the user to also change billing from within the SIPP as other providers do:

Choose to pay SIPP fee from the SIPP account

This idea is following up from this post: Currently if the FT SIPP is charged outside the SIPP basic income tax payers loose a 20% discount while higher income tax payers loose a 40% discount. For example let’s assume that I will always cover the FT fee with my monthly earnings so the fee is charged outside the SIPP it will come off my credit card and if it is within the SIPP I’ll make a new contribution to the SIPP to cover the fee. A FT SIPP will cost me £10 a month from my annual earning…

A 17% saving is tiny compared to what most would expect to save from paying from with the SIPP wrapper - without costing FT a penny. I really hope the team will focus on this before the next billing cycle.