MEGATHREAD: Freetrade SIPP

Nice one, thank you :blush:

Wow… Partial transfer from Scottish Widows-held workplace pension initiated on Sun 14th march, available to trade in freetrade sipp on Fri 19th March. Is that a record? :grinning:

Edit: I was registered on their online portal and had contacted them asking for information, then later telling them freetrade will contact them to move X amount, so maybe that helped get rid of red tape on their end, but still well done Freetrade :heart_eyes:

12 Likes

In-Specie ISA transfer now complete (for those stocks able to be transferred plus cash balance).

Initial request to HL 26th January 2021
All arrived (stocks and cash) at Freetrade 19th March 2021

Total time to transfer 53 days (12 days longer than Weenie)

1 Like

Just heard this from HL as I sent them a message to ask how it’s going:

At time of writing, we’re processing electronic cash transfer requests received on 8 March, and in-specie (stock) transfer requests from 5 March.

So they say they’re only a few weeks behind now, we’ll see how mine works out.

1 Like

My SIPP tax relief has been reclaimed and paid into my SIPP today.

So it’s taken about 8 weeks.

3 Likes

I just got a free share of Nike with https://www.freetrade.io :tada: #FreeInvesting

4 Likes

Nice :+1: Thank you Freetrade :

7 Likes

I don’t have “recent” SIPP transfer experience but that’s got to be a record with excellent tech and processes on both the transfer-in and transfer-out sides.

1 Like

Can anyone confirm that you don’t need to be on the chat option to get a reply? I opened an ISA this morning and all great :+1: and now I opened an SIPP it gave me the folder etc and asked about funding and I put the “transfer a pension” option. This then opened the chat option and gave several opening questions, none of which are relevant to SIPP :joy:

I am assuming that I post and can close the app and they will respond whenever but just want to check.

Thanks in advance :+1:

1 Like

Yep, you’ll get a notification when you get an response :slight_smile:

2 Likes

Excellent, and thank you for quick response :+1:

1 Like

When your funds arrive from your pension transfer would be great to see this in the activity feed. Currently only get told in chat.

Will let you know :+1:

FYI to anyone who had the same problem as me it is worth resetting app and then the option to transfer funds does work. Not sure why it went to a general setting but the lady Holly was super quick and helpful getting details, so looking forward to becoming a millionaire retiree :stuck_out_tongue_winking_eye:

The Freetrade SIPP is here :tada:

The wait is finally over.

The Freetrade self-invested personal pension (SIPP) is now available to everyone. :partying_face:

You can now open your Freetrade SIPP and start saving towards your retirement without growing your fees.

How to open a Freetrade SIPP?

Head to your Freetrade app and open a SIPP in your Profile.

To learn more about the Freetrade SIPP, see our:

Have questions? Email us at transferapps@freetrade.io.

Thanks,

Doyin :blush:

13 Likes

Will employer contributions be integrated at some point?

1 Like

Note to all to be careful with this.

I added 10 quid when my SIPP first opened thinking that the process would be smooth. Freetrade took well over 30 days to let me know they couldn’t perform the transfer, barely updated me on the process, and now I am stuck with a SIPP account costing me 7 quid a month (so far 14 quid) which I apparently can’t close. My fault, maybe, but now they won’t tell me how to close it, only that “All information regarding your SIPP would have been outlined in your welcome pack”.

I’ve been a member for a long time, and until now everything has been great. But this… Not impressed, Freetrade.

1 Like

Does anybody know how long it takes for your SIPP to be open after a CHAPS payment has been made for your transfer from previous provider?

I just got an email saying mine has been done and curious if it is now very quick, even out of hours :joy:, or I still have to wait for X amount of time.

CHAPS payments should arrive on the very same day. Except if there’s a cut off period that makes it arrive the next working day. Example: a bank guarantees CHAPS payment arrives on the same day, except instruction is given after 4.00 pm, in which case payment will arrive the next working day

1 Like

Cheers i didn’t realise the 4pm time but my main query is if that is the limit of time for the SIPP to activate or if it then takes longer for another reason in the FT system. I’m not worried just curious if others had the confirmation then had to wait any length of time :+1:

1 Like