Vanguard SIPP now launched

[Spoiler]

So regular manual payments are allowed and it's just the lack of automated regular payments that are currently lacking? Seems something they could add relatively easily over coming months.

Yep, this. Their current position is:

We might offer this in the future but have no immediate plans at the moment

Based on how long it took to launch their SIPP, I reckon this could take a while

[Lance]

Yep, this. Their current position is:

Based on how long it took to launch their SIPP, I reckon this could take a while

Has nobody noticed they have no method to drawdown yet???? That’s a bit of a flaw really. I think I’ll stick with HL for now.

[adubya]

Has nobody noticed they have no method to drawdown yet???? That’s a bit of a flaw really. I think I’ll stick with HL for now.

Yes, I noticed that. Depends upon how close you are to 55 I guess. I'm *very* close so will hold off opening the Vanguard SIPP until the drawdown is available, will look at the terms and compare with my current provider (who charges £180/yr for drawdown).

[Hobosapien]

On the transfer front I initially read it as taking between 1 and 10 days but it's actually between 1 and 10 weeks and could be even longer.

A long time to be in limbo, though maybe the time it's actually not invested while awaiting transfer to the SIPP may only be a short while (days rather than weeks). They also transfer it to cash (even if currently invested in Vanguard funds) so that has to be considered too. On the plus side being in cash while things may be about to tumble due to global supply chain issued from China virus lockdown may not be so bad, but then again if the pump masses of QE into the economy the indexes could gain.

[radish2008]

First SIPP

I know there's another thread for SIPP newbies but I came across this as I was just about to open a Vanguard SIPP account. I'm thinking of putting about 30k in and have 60k in 2 others that I'd transfer across. I've been playing with some shares investment recently using Trader212 and to be honest would probably go for the Vanguard 10 year plan or invest it on bonds. So my requirements are not very exotic and I'm pretty much risk adverse (being 52 and not having a great pension).

So do you think Vanguard could be for me ?

[jamesbrown]

So do you think Vanguard could be for me ?

No complaints. Decent front end, no issues transferring accounts etc. Most importantly, very low fees. Would definitely recommend.