PayStream + SIPP

[thought]

Hi,

Apologies this seems like a trivial topic but I have now been struggling for a while...

While, in theory, PayStream allows payment into various SIPP's it seems they are incompatible with Freetrade - as freetrade doesn't accept payments from employers and it seems they won't work with AJ Bell either as AJ Bell needs a form filling up before every payment is made for which they issue a unique identifier which then needs to be supplied to Paystream and this process isn't feasible on a weekly basis.

Does anyone know a SIPP provider that works with Paystream please? Paystream can't guarantee the exact amount that they will pay in every week so the SIPP provider will need to be able to accept a variable amount from the employer every week.

Thank you.

[eek]

Apart from this being in the wrong forum - there is a separate forum above have you asked Paystream which SIPP providers they can support and regularly send payments to?

And 2 seconds with this site's search engine gives me this post https://forums.contractoruk.com/umbr...ml#post2942032 where you question is answered.

[northernladuk]

Apart from this being in the wrong forum

You know what thought did

[thought]

Apologies for putting this in the wrong forum, if a mod can move it I would be thankful.

However, the 2second search that you did only provides a list of the operators they support in theory. It doesn't work in practice. I have included the two companies that it doesn't work with and the reasons for which it doesn't work.

I will ask my question again, does anyone use Paystream and pay into the SIPP please? If so, which provider do you use please? I have tried asking Paystream but they have been very unhelpful besides giving me the same list that is posted in the other thread.

[eek]

Apologies for putting this in the wrong forum, if a mod can move it I would be thankful.

However, the 2second search that you did only provides a list of the operators they support in theory. It doesn't work in practice. I have included the two companies that it doesn't work with and the reasons for which it doesn't work.

I will ask my question again, does anyone use Paystream and pay into the SIPP please? If so, which provider do you use please? I have tried asking Paystream but they have been very unhelpful besides giving me the same list that is posted in the other thread.

Your problem is weekly payments into the pension.

is it possible to have the pension money saved up and paid once a month?

[northernladuk]

Apologies for putting this in the wrong forum, if a mod can move it I would be astounded and dumbstruck.

FTFY

[thought]

Your problem is weekly payments into the pension.

is it possible to have the pension money saved up and paid once a month?

unfortunately the frequency is weekly right now, moving monthly is an option but even then if Paystream need a new ID every month then it still puts deposits at risk due to manual updates. I wanted to know how others get Paystream to deal with their SIPP providers.

[fulcon]

It's been working fine for me with Standard Life. My comment from the linked thread:

I had the added complication of the pension being set up by a FA so changes have to go via them, and they need to be notified of each payment. PayStream were happy to send an e-mail each month to the FA when a contribution is made and I got the impression it was pretty routine for them. I just had to jump through the usual GDPR and consent hoops to get all parties talking. PayStream did forget to send the first e-mail, but they sorted it quickly and it's been up and running for a few months now with no further problems.

Have you spoken to PayStream or just e-mailed? Talking to them rather than e-mailing seems to get things done more quickly and removes any ambiguity.

[Smoggy]

I use Paystream with Interactive Investor for my SIPP. No issues, I'm paid weekly with my pension contributions held back and paid monthly to II. I need to complete a form and send to II each time.

[thought]

It's been working fine for me with Standard Life. My comment from the linked thread:



Have you spoken to PayStream or just e-mailed? Talking to them rather than e-mailing seems to get things done more quickly and removes any ambiguity.

Thank you, I have called them multiple times.

I will check Standard life and see how/if Paystream can accommodate.