SIPP - Pension Plans

[richy]

They use to have such a plan before the recession kicked in. I believe the account was held with the Bank of Scotland arm (as it was then) of HBOS / Halifax. However, because of the current interest rates of 0.5%, not many providers can offer anything of any substance any more to Hargreaves Lansdown.

Also, with your funds investments, you are not constrained to chosing just one fund, you can split your funds to many fund providers within the HL SIPP, as long as you have a minimum investment of 1000 GBP.

Hope that helps.

Thanks. This makes sense. Thank you others for the replies in this thread as well. I gave HL a ring, and all sounds fine. Just got to wait for my existing pension to come across in next 4-6 weeks now ;-)

[richy]

Yes. You can choose to just store it as cash while you get around to deciding the fund. Of course, not sure what it is but interest rate is crap.

However, thats what I'm doing. Got 5-6 to transfer in so when they're all sorted then I can pick my funds. (Or at least get some ideas in the meantime).

Sounds like a good plan. I've 4-6 weeks to mull it over now!