Can I contribute to SIPP via umbrella company?

[eek]

Contracting via umbrella is still only a short term gig. There is the chance after you might get outside or be forced to use another umbrella. It's not the end of the world if you can't pay in to your preferred SIPP. Just pick a brolly that pays in to a SIPP which is acceptable and then when you are done move the SIPP to your preferred provider.

Careful with that - Lucy would probably disagree but I think NEST's fees are completely insane (1.8% of every contribution) and I don't think running multiple SIPPs is a great idea.

[Whitelime]

So you paid into a Vanguard SIPP? If not, you've still not given any additional information to the OP, and based on Whitelime's response, might actually have provided misleading information.

Many SIPP providers also insist on Direct Debit contributions, which no Umbrella will touch. "Any" SIPP is very misleading.

[eek]

Many SIPP providers also insist on Direct Debit contributions, which no Umbrella will touch. "Any" SIPP is very misleading.

I suspect we actually need a list of SIPP providers and whether they insist on Direct Debit contributions or allow other payment methods.

[BR14]

AFAIK Fidelity, A J Bell and Scottish Widows allow ad hoc payments by bank transfer.
hth

[northernladuk]

Careful with that - Lucy would probably disagree but I think NEST's fees are completely insane (1.8% of every contribution) and I don't think running multiple SIPPs is a great idea.

This could be true but there is going to be a situation where inside peeps have no option but to take on the pension of the brolly and will end up with multiple pots, just like many employees do so there must be a fairly simple solution to it. If there is a problem in this are then it's only going to go crazy as people swap and change umbrellas over the forseeable future.

Would be nice if there was a guide of what type of pension to go for via a brolly with the aim to move to preferred SIPP after. Pros, cons, gotchas etc. If having two SIPPs open is a such a problem them it would be nice to have the second best solution if the brolly won't pay in to your SIPP.

[vwdan]

So you paid into a Vanguard SIPP? If not, you've still not given any additional information to the OP, and based on Whitelime's response, might actually have provided misleading information.

Are you just here to be awkward? There were two questions posed:

"Can I contribute to SIPP via umbrella company?"

and

" I wanted to know if Paystream(or any other umbrella company in fact) do a direct debit from my payments into SIPP providers like Vanguard."

The answer to both of those is an unequivocal "yes", regarding Paystream but excluding DD as I stated. They will pay money to any UK registered legit scheme. If Vanguard don't accept such payments, that's another issue

You then asked

"Can you confirm that, or that Paystream will pay into *any* SIPP?"

And again, yes, Paystream will pay to any SIPP via bank transfer. Again, obviously, the SIPP has to accept that

[ASB]

Careful with that - Lucy would probably disagree but I think NEST's fees are completely insane (1.8% of every contribution) and I don't think running multiple SIPPs is a great idea.

Yes but .....

A salary sacrifice type payment should be much better than a personal payment and it may be worth tolerating excessive transfer costs.

It just depends on what the umbrella will do.

[eek]

Yes but .....

A salary sacrifice type payment should be much better than a personal payment and it may be worth tolerating excessive transfer costs.

It just depends on what the umbrella will do.

And that's my point - while you want a umbrella firm that does salary sacrifice, you ideally want one that gets the money into your SIPP as cheaply as possible.

And that means you may need to careful think about both your umbrella provider and your SIPP provider.

[Whitelime]

AFAIK Fidelity, A J Bell and Scottish Widows allow ad hoc payments by bank transfer.
hth

+ Tilney Bestinvest

Need to complete a form each month to confirm it's an employers contribution, but this form can be sent by email.

[CheeseSlice]

Maybe a separate topic or website article but I’ve been thinking about this recently. I don’t use a SIPP but I do want to pay with maximum tax efficiently into my own pension set up by my IFA.

What I need is a list of Umbrellas that support Salary Sacrifice pension contributions, their fees (some charge more for salary sacrifice), and which pension providers they’ll work with.