What is your pension provider with partial transfers? I’ve heard Aviva supports them, is there anybody else?
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I do a partial transfer from my workplace pension plan with fidelity every month.
They’ve been getting quicker at facilitating this each month - last months only took 5 days!
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Anyone know how easy Scottish Windows make it? Can’t find anything in their website - hardly a surprise
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HL also supports partial transfers.
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I do it every few months with Royal London, bit of a pain as I have to fill out a paper form every time but not too bad! Just have to make sure I leave £200 in the account so they don’t close it
I’ve been asking for employer contributions for a couple of years now, they’d clean up! I’d ditch ii straightaway. I can see theres plenty of demand here - certainly more than for a web interface which seems to be the focus or obscure shares no one’s bothered about…
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I’ve just seen on another thread @adam mention they’ll be changing some of their pricing tiers in the summer.
I really hope this doesn’t result in SIPP becoming more expensive while still not providing employer contributions.
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Hopefully the ISA won’t become more expensive either!
Works well for me, I find partial transfers take about two weeks.
It’ll be interesting to see how FT approaches this. £120 a year’s about standard for a Sipp but I wouldn’t be too fussed by an extra £30 or so.
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Farntastic nees thanks @rehpot do Freetrade initiate it for me? I’ve only ever done full transfers and long enough ago that I’ve forgotten how
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I would be without employer contributions. I’m holding out in the hope this comes but there may come a time I call it quits. I transferred at the beginning of last year in the assumption this would have been delivered.
But everyone has their own wish list I guess.
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Yeah, I just use the FT form to request a partial cash transfer and it’s more or less job done. SW automatically sells the appropriate amount of my holdings and sends the cash.
I think a lot of customers are feeling this way, unfortunately – whether it’s wanting employer contributions, Lisas/Jisas, auto-invest, Reits in Sipps/Isas, or a web portal. For many, these are essential features that should be prioritised and I worry that people will run out of patience.
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I too have kept another sipp open because of this missing feature, and am getting a little concerned about keeping my pension here long term.
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Fat chance, Ive been waiting for over 6 months
Does your job even offer this? I’ve rarely found a company that supports personal SIPPs, which is probably why it’s down the priority list
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Yes it does - hence why I asked
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Good point but many of the people asking for this are Freelancers who are operating companies. This is a large number of people. Of course they could still open a SIPP and make a personal contribution and claim back but there are (tax) advantages for the company to make the payment.
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This is the one feature that would get me to use Freetrade SIPP as my main pension. I’m a self-employed contractor running my own Ltd.
Right now I’m forced to use a SIPP that charges me a commission because it’s just not tax efficient to pay my entire pension contribution from personal funds.
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I too am self-employed and a SIPP would be far preferable to paying myself a salary and putting money in an ISA as I don’t intend to touch these shares until I retire anyway.
I don’t really understand what the technical difficulty Freetrade is having with this. Even being able to make a single one-off payment per year from the company would be preferable to not being able to do it at all.
Some have suggested for normal employees doing a partial transfer from a normal pension, but a lot of the smaller pension schemes for self employed people specifically have charges to penalise this kind of thing.
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