SIPP: Employer contributions

Now we need the ability to receive employer contributions so users can get salary sacrifice, the most efficient SIPP contribution and the No1 pension contribution since auto-enrollment, into their :freetrade: SIPP.

Resurrecting this thread+vote because I really need employer contributions :smile: Please, freetrade :pray:

2 Likes

I’ll add my vote to this one as well.

Seems like it would be a way to fairly rapidly scale to the total funds managed by FreeTrade.

1 Like

Can you not transfer a lump from your work pension into your FT SIPP every so often? Obviously better if you did not need to but think this is still a way around it.

1 Like

Most employers will only match your pension contributions if they can pay it directly into a pension provider (presumably for tax reasons).

1 Like

What I mean is have a work place pension with X provider and say once a year transfer X amount across to your FT SIPP :+1: I have moved my old pensions into a PB account and they sound I can move X amount to my FT SIPP as long as I don’t close their account and continue to use them.

I’m not saying it 100% works but don’t see why it won’t.

1 Like

You can do periodic partial transfers, but only if your employer pension provider supports it, you need to check with them first as some of them have conditions like having a minimum balance invested.

3 Likes

Thanks, good points. Agree, periodic transfers from the workplace pension would indeed work, but obviously more admin.

An update to this: Over the last 2 months I have been trying to move money from my NEST pension to FT SIPP. Today I found out that I cannot do a partial transfer because I am under 55, I can only do a full transfer, and then reopen a new nest account, by closing NEST, waiting a month, issuing a transfer order, waiting a month, and then reopening NEST.

I’m going to have a further chat with my HR dept, but as you can imagine they are not thrilled about the idea of closing and reopening pension plans.

1 Like

I think this is an issue with the NEST Structure: “You can’t transfer out if you’re still making contributions to your Nest pension pot.”

2 Likes

this sounds like a good and interesting idea, is there also a way to currently have a regular contribution set up to the FT pension sipp?