SIPPS Pensions

seancass

Well-known member
329 1
I am sure that I have sought opinions on this in the past, and equally sure that NAZ pointed out a firm that offers this type of brokerage facility.

A Sipp, is a self invested pension plan where you can manage your own pension plan through an approved broker and make the necessary investment decisions provided you use UK stocks.

Have any members experience of this type of self management pension and are there any recommendations out there in terms of broker?

Thank you
Seancass
 

Scripophilist

Active member
221 7
Most people miss the most important point on SIPPS.

You appoint a trustee that "Looks after" your pension and the legal requirements.

You appoint a broker or brokers to look after the dealing.

Therefore you should make two choices. Most brokers practically appoint the trustee for you (In return for some reciprocation no doubt).

I use ODL Securities and Comdirect for my execution in the SIPP. ODL are very flexible.

I visited ODL's preferred Trustee IPM in Ware and liked them so appointed them also.
 

seancass

Well-known member
329 1
Thank you for that useful information Scripophilist. I will take a closer look at those companies.

Best wishes,
Sean
 

Oldun

Active member
139 1
Sean,

Comdirect is probably the cheapest, mine is presently with sippdeal although I will soon change to comdirect, etrade have a reasonable deal and Hargraves Lansdown in Bristol also not bad.

There are many others.
 

seancass

Well-known member
329 1
Many thanks indeed for that, Oldun. I will take a good look at them.

Best wishes,
Sean
 

Achilles

Junior member
27 2
seancass said:
A Sipp, is a self invested pension plan where you can manage your own pension plan through an approved broker and make the necessary investment decisions provided you use UK stocks.
Hi Sean,
I have no experience of this, but reading what Naz has to say about 10 posts down this thread, it appears you can also use US stocks :cheesy: depending on your broker.

Regards,
Akhil
 

Oldun

Active member
139 1
Sean,

Check very carefully. The list can be very limited and in some cases, I think, you may become liable for stamp duty.

I need to look into this myself but if e*trade allow a full or extensive range of US stocks and you can trade using LII with realistic commissions they may be a good prospect.

If you get any useful info let me know.
 

seancass

Well-known member
329 1
Oldun,

I have been examining the E Trade web site (cannot get through to them by phone so I have e mailed them) and they state quite categorically that SIPPS clients may deal in UK stocks. I cannot see any reference under the SIPPS banner to US stocks. In the e mail that I have sent I have asked them for clarification.

Further, SIPPS are not covered by the UK compensation scheme if they go TU!

Best wishes,
Sean
 

Scripophilist

Active member
221 7
I trade US, EU, UK stocks, futures, options, warrants, etc. etc. through my SIPP there are very few limitations but you do need to check with you broker and trustee.
 
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