Spec Inves Prop Share Discussion Threads

[isis] 14/4/2008 16:02

Can anyone tell me which is better Sippdeal or Sippdealxtra?
many thanks.

[tim] 10/4/2008 13:43

Looks like all sipps will be able to do soon yipeee = more of MY cash under MY control yipeeeeeeeeee!!!!! Anyone know what was decided or when?

10 December 2007 – Protected rights in SIPPs: more choice for pension investors
Consultation begins today on draft regulations which will allow Self Invested Personal Pension Schemes (SIPPs) to hold protected rights.

Existing restrictions preventing SIPPs from holding protected rights are now considered unnecessary - particularly in the light of recent changes which mean SIPPs are regulated by the FSA.

Minister for Pensions Reform Mike O'Brien said:

"This proposed change will give people more freedom to choose where they invest their pension savings.

"It will remove a restriction on SIPP schemes which is no longer necessary and make it easier to transfer funds between schemes"

The consultation runs until 29 February 2008.

[hectorp] 19/11/2007 10:06

Sippdeal don't have the best state of the art online trading package but I find on the whole they do a decent job for me, and annual charges are low. Dont 'churn' as dealing charges are not quite so cheap.
I'm now considering income drawdown as I could do with some income. Taking an annuity seems like burning ones boats, and once agreed to, there is no possibility of any growth in the capital as it is gone from you .

[glynnef] 02/11/2007 05:46

Trader2,

I just found this thread. MotleyFool UK has some good threads on pensions and SIPPs.

I have opened a SIPP with Sippdeal for its low charges and it really is a Self Invested Pension Plan. Your money just sits there clocking up interest until you invest it. I funded it from a maturing Zurich (formerley Allied Dunbar) personal pension where historically the charges were much more than an arm and a leg ! Now looking to build a sensible portfolio to tuck away for the long term (I am 55) and it is about 20% of my pension provision. A spread of Investment Trusts and ETFs looks favourite to me.

good luck,
GF.

[trader2] 26/9/2007 14:05

Letter from Barclays today stating that they are jacking up their SIPP Account Admin charges to a stonking £176/year. Not happy about that. Who should I transfer to - and why? Appreciate any inputs.

[hectorp] 16/7/2007 13:13

I have been told that sums paid in before 1998 or maybe 1996, are NOT to be deemed 'protected rights' I've written to my Pension profider to get clarification.

[hectorp] 05/7/2007 18:01

Interest rates rise again, and we will see Annuity rates rising. I remember this from 1980's when annuities were offering 11% returns.
THey then slipped back to 4% not long ago.
I see then rising into 2008.
It could be good time to lock in - IF taking one.
Depends what we expect inflation is going to.
AS a follower of commodities I am fairly sure we will have greater than expected inflationary pressures in 2008 and 2009.
I am not sure Annuities are ever as good as drawdown, but if rates fall away in 2 years or so, it could have been wise to lock in 7.5% which I suspect we will see by Xmas.
Someonesurviving 20 years on 7.5% rates of return fixed will be very much better off than someone taking drawdown for the next 5 years and then going for an annuity maybe paying only 5%. All very actuarial as they say in the trade! Wish I was in insurance.
Happy sipping! ( pun intended).
H.

[lgw] 05/7/2007 16:17

Hectorp I also have a Sipp transferred from a pension plan and another amount (25k also) that was contracted out so interested in your progress. I want a "dealing" Sipp for the 25k or to merge it with my main Sipp with TD Waterhouse (who dont currently accept protected rights monies.)

[hectorp] 02/7/2007 17:00

My Preserved rights are with Winterthur.
Maybe they'll let me have them out as cash as only £25K.

[hectorp] 26/6/2007 12:51

many thanks bads, and daveb.

[sofarbad] 26/6/2007 12:24

WINTERTHUR.

[hectorp] 26/6/2007 12:23

thank you daveb.
I'll look into it.
It seems that 'protected rights' are generally described as cash that has been allocated from opting out of SERPS.
Interstingly I never did this,
but my 'Protected Rights' are transferred in monies from Part of my teaching pension from 1992.
I'm going to find out if this sum SHOULD in fact be 'protected rights' by definition.
Apart from this I found that the Government, very aware of thousands of complaints about the inability to merge protected rights with a share SIPP, due to Treasury regulations, stated in April of this year to permit such merging. However they did NOT provide the legal framework to make it happen!
Thye may do so over the coming year or so. I will accordingly wait intil next year . If in 12-18 months nothing has happened then I'll make some otehr arrangements.
My protected rights are not large, only £25K so I am not even sure if this smallish sum would be suitable to transfer to an annuity.
I'll contact annuity providers and get their views too.
H.

[davebowler] 25/6/2007 12:56

Yes, Merchant Investors,but I believe there aren't any more Pension providers who do.

[davebowler] 25/6/2007 12:53

Transact accept protected rights already and they allow direct share holdings.
I hold mine with them.

[badtime] 25/6/2007 12:44

I didnt think u cud hav pr cash in a sipp anyway..although i understand that is to change...interesting u mention yur experiences with sippdeal....i will b looking to shift my sipp to them in a couple of years..as ther charges for inc drawdown r competitive

PS I USE THE PENSIONS/ANNUITIES FORUM ON MONEYSAVINGEXPERT.COM FOR PENSN INFO

[hectorp] 25/6/2007 12:38

There must be other sipp providers that will handle protected rights.
??

[hectorp] 25/6/2007 12:32

Well, more answers chaps, but they always lead to more questions!
I suppose at the end of the day if a person has cash in the bank as well as a sipp, I'd be daft to add to my sipp from my personal savings.
After all the cash I have, can be invested AND spent , whereas a sipp once an annuity, cannot be spent.
I came across a problem today, 'sippdeal' who hold my sipp, will NOT accept my 'protected rights' into the sipp from Winterthur where they currently are.
I will not be able to do that, but if I move my sipp to a sipp provider who CAN do so, thats what I may have to do.
ALso, sneaky guy at sippdeal inferred on the phone that 'we dont provide annuities we provide 'a pension' but clearly a sippdeal 'pension' would be at sippdeal's own rates - and they will not be competitive like annuity providers and I want an annuity in around 3 years.
So I need a new and cheap ( trading wise) sipp with a company that also allows my protected rights from my teaching days to be added to it. Any advice?
H

[badtime] 11/6/2007 22:31

As i understand it sipps cant accept PR cash..but people hav sed that the rules r set to chnage...but...its not known wen

imho

[jay aitch] 11/6/2007 21:49

I have a couple of Company Pemsions which can't be cashed due to protected rights. Is it possible to transfer these to a SIPP?

[arthurly] 14/5/2007 19:15

I think you can add another £2,808 every year (£3,600 gross), even if you don't have any earnings - but that's presumably before you start to do a drawdown (I'd never take an annuity).

[jonno1] 14/5/2007 18:33

yep, so if you have no earned income you cannot put any into your sipp

[charles clore] 14/5/2007 16:41

Isn't the annual amount you are allowed to put into a SIPP linked to your income?

[jonno1] 14/5/2007 16:22

in the same boat Hectorp, as far as I am aware if you don't have any taxable income you cannot add anymore to you sipp...however if you have a wife who works and you see yourself with her for the long term you can put it into her sipp (obviously open one if she doesn't have one), if you put £60000 in for instance the government will top it up with another £40000 directly and via tax rebate if she is a higher rate tax payer... then you could trade it for her!!!