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Has anyone any details on SIPP costs, please?

by greydo, 4 months ago

I am considering joint application ISA's and/or SIPP investments for my wife, due to their tax free status and safety. I need to know the costs involved in the management of these funds. I am a 20% taxpayer, as is my wife. I am 66, and she 64 years of age.She receives only a £60 net monthly private pension, and a full state pension. Thank you!

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Responses (2)

Hi greydo!

I suspect this question is one that only can be truly answered by an FSA registered financial consultant who would have a full fact find of your situation to judge your question on. And it is good that you are looking closely at your finances as you start pensionable life.

I spoke to a friend who is a financial consultant whose only comment was about the level of your pension pot to invest in SIPPs being a deciding factor. I have added a link below with some interesting views on this. But as I say, I think you need to speak to a seasoned professional for advice here as it could be a very much 'last' investment decision.

http://www.lovemoney.com/news/savings-investments-pensions/sipps/3379/five-top-low-cost-sipps

by Snoopy48, 4 months ago

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Hi,

You can't have joint ISAs and I don't think you can have joint SIPPs either as the tax advantages are personal.

There's a good article on sipps here:

http://www.investorschronicle.co.uk/2011/12/06/your-money/pensions-and-sipps/how-to-choose-a-sipp-provider-QDORRx7hIfl1o4ftOHk1XM/article.html;jsessionid=5597DACEFA18117C9C4720B42D793B85.mps-apr-01-8104

For a basic sipp, hargreaves lansdown comes out the cheapest but it won't let you hold certain more exotic assets within the sipp (things like individual properties and offshore bonds).

by G-Man, 4 months ago

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There's a reasonable matrix comparing low cost sipp providers here:

http://www.investoo.co.uk/compare/compare-sipp-providers/

It's a couple of years out of date, but should help give you some guidance.

by G-Man, 4 months ago

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Hi,

Try copying and pasting long links - sometimes the money.co.uk site tries to enter referrer details into a clicked link, which prevents the site loading properly :(

by G-Man, 4 months ago

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