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Limited company - company pension?

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    #31
    FredBloggs:
    Great, thanks. Having an input from someone who has had both HL and II is very useful.
    I think I would go for II between them, as I do plan to build up my pension pot to a decent figure over a period of time (provided the rules don't change).

    DallasDad:
    Thanks for the LongCat link. I had gone through similar comparisons earlier, but this one had better depth and breadth.

    Adubya:
    In the above comparison, I noticed another provider iWeb, who seem to have quite low fund and equity transaction charges. I think you opened an account with them recently. How has been your experience with them so far? Any pros and cons?

    Please also let me know if anyone else has any experience / opinion regarding iWeb.
    Are iWeb much smaller? For SIPP, does the size of the provider matter a lot?

    (Now just need to confirm between II and iWeb, and will get an account opened this week)

    Many thanks.

    Comment


      #32
      No probs if you think of anything else you can PM me if you wish.
      Public Service Posting by the BBC - Bloggs Bulls**t Corp.
      Officially CUK certified - Thick as f**k.

      Comment


        #33
        Originally posted by Pegasus View Post

        Adubya:
        In the above comparison, I noticed another provider iWeb, who seem to have quite low fund and equity transaction charges. I think you opened an account with them recently. How has been your experience with them so far? Any pros and cons?

        Please also let me know if anyone else has any experience / opinion regarding iWeb.
        Are iWeb much smaller? For SIPP, does the size of the provider matter a lot?

        (Now just need to confirm between II and iWeb, and will get an account opened this week)

        Many thanks.
        That's right, I opened an iWeb SIPP very recently. I am an existing iWeb customer, have an ISA with them so knew what I was dealing with. They use the Halifax trading platform (Halifax actually run the iWeb service) and it works well, a bit cheap and cheerful but does the job.

        Regarding the iWeb SIPP, it's actually administered by AJ Bell but uses the iWeb platform for dealing. Easy to open the account and get company contributions in there.

        Comment


          #34
          Originally posted by adubya View Post
          That's right, I opened an iWeb SIPP very recently. I am an existing iWeb customer, have an ISA with them so knew what I was dealing with. They use the Halifax trading platform (Halifax actually run the iWeb service) and it works well, a bit cheap and cheerful but does the job.

          Regarding the iWeb SIPP, it's actually administered by AJ Bell but uses the iWeb platform for dealing. Easy to open the account and get company contributions in there.
          Thanks. Have been looking into iWeb this morning. They seem to have £25 charge for opening ISA/Dealing account (though LangCat article says £200). But no charges for opening a SIPP account.

          But if I apply for a SIPP account, won't I also need to open a Dealing account to buy/sell shares? Does that mean I will need to pay £25 upfront? (Quite small, but just want to know the process)

          Also, are they mainly internet based only? Didn't see any customer service phone numbers on their website? (Just had a very quick look though)

          Thanks.
          Last edited by Pegasus; 6 February 2017, 12:36.

          Comment


            #35
            Originally posted by Pegasus View Post
            Thanks. Have been looking into iWeb this morning. They seem to have £25 charge for opening ISA/Dealing account (though LangCat article says £200). But no charges for opening a SIPP account.

            But if I apply for a SIPP account, won't I also need to open a Dealing account to buy/sell shares? Does that mean I will need to pay £25 upfront? (Quite small, but just want to know the process)

            Also, are they mainly internet based only? Didn't see any customer service phone numbers on their website? (Just had a very quick look though)

            Thanks.
            Looks like they've recently reduced the opening fee for ISA/Dealing account, it used to be £200, now £25. The SIPP account has no opening fee but is a separate login/account to a share dealing/ISA account so you won't get those as a freebee But you don't need them if all you're opening is a SIPP, all dealing etc takes place in your SIPP account.

            They're mainly internet based but do have contact phone numbers, I used the livechat service (only appears when you are logged in) to ask some questions about my SIPP and they sorted things out quickly.
            Last edited by adubya; 6 February 2017, 19:00.

            Comment


              #36
              Hargreaves Lansdowne definitely seem a rip-off according to that table, but they claim to offer reduced fees for tracker funds etc. Is this included in the cost figures?

              Do II (Interactive Investors?) have these discounts? Or do they for example charge a 5% fee to buy and an extra .09% for holding a fund each year.

              I think I should try and ditch HL, but they charge hundreds of pounds to let you escape.

              Comment


                #37
                Originally posted by hugebrain View Post
                Hargreaves Lansdowne definitely seem a rip-off according to that table, but they claim to offer reduced fees for tracker funds etc. Is this included in the cost figures?

                Do II (Interactive Investors?) have these discounts? Or do they for example charge a 5% fee to buy and an extra .09% for holding a fund each year.

                I think I should try and ditch HL, but they charge hundreds of pounds to let you escape.
                There are no hidden charges with II. II have no % based fees, only a flat rate. HL will not charge you fees to transfer if you sell holdings and transfer the cash.
                Public Service Posting by the BBC - Bloggs Bulls**t Corp.
                Officially CUK certified - Thick as f**k.

                Comment


                  #38
                  Originally posted by Fred Bloggs View Post
                  There are no hidden charges with II. II have no % based fees, only a flat rate. HL will not charge you fees to transfer if you sell holdings and transfer the cash.
                  I didn't mean that II had hidden charges, but the funds in my SIPP have hidden charges which HL claim to have discounts on. Do II have similar discounts?

                  Transferring the holdings to cash and back again would cost me even more than HLs rip-off exit fees!

                  Comment


                    #39
                    Originally posted by hugebrain View Post
                    I didn't mean that II had hidden charges, but the funds in my SIPP have hidden charges which HL claim to have discounts on. Do II have similar discounts?

                    Transferring the holdings to cash and back again would cost me even more than HLs rip-off exit fees!
                    Take a look on their site, and compare with what you are paying.

                    Fund Search | interactive investor

                    find the fund, select "factsheet" on the fund, then "at a glance", and you will see "ongoing charges" and "initial charge/dealing charge".

                    Comment


                      #40
                      Originally posted by adubya View Post
                      Google should throw up a few, this one was the first which popped up SIPP Account | Saxo Capital Markets UK

                      I opened a SIPP with iWeb a couple of weeks ago and made an initial company contribution, very easy. I plan to make ad-hoc company contributions into it, perhaps a few times per year. Investing pretty much into Vanguard VWRL.
                      Hi Adubya,

                      The initial company contribution you made, was that through cheque payment or direct debit instruction on application form?

                      What is iWeb's process for ad-hoc company contributions - do they need some form filling every time? can the money be transferred online, or through cheque only?

                      Many thanks.

                      Comment

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