Is there a possibility of a T212 pension platform (SIPP)

Is there any news if T212 will consider adding a SIPP (pension) to their platform? At present, I use AJ Bell but its a £9.50 for even trade each way so £19.00 to buy and sell plus an admin fee (I paid over £100 last year). I see Vanguard has added a pension option just recently. Just curious if this is even on the radar…

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Yes, we plan to introduce SIPP accounts but we can’t commit to a deadline. Realistically it should be live in 6-12 months from now.

We want to perfect and add depth to our current services before adding new ones.

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Thanks Alex for this update. I look forward to see how this develops. Vanguard seems very good so far, though limited to their funds of course and thay are pushing their “Which” best buy on TV I see. I did not like their min £500 lump sum or £100 per mth entry barriers but I don’t understand the cost to set a SIPP up for providers so maybe it is fair filter. Anyhow I like what T212 is doing keep up the great work…

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@AlexK if it has the option to transfer shares without converting to cash, I’ll transfer my SIPP the day you launch it.

cant wait for it

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Any update here on SIPP ?

Should be launched in early 2021.

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And how about @kali 's question about in specie transfer?

Many people use OEIC funds in SIPPs. Index funds like Vanguard Lifestrategy, Fundsmith, etc. So as yet the Trading 212 universe will not provide an easy SIPP replacement for those who do.

Will the LISA be coming with it?

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And JISA? And will JSIPP be considered?

Just throwing those out there.

@AlexK That’s awesome news! As long as it is before the new financial year we should be good.

As @Richard.W emphasised the ability to transfer non-cash assets is so important I can’t find words to emphasise it.

Even if the instrument exists in both the host provider and T212:
sell + fx fee + tx fee => transfer cash to T212 -> buy + fx fee is huge and will run up to 3-5% and will be a good enough reason for someone not to transfer, especially if they are already holding a significant amount in their SIPP.

We are exploring the possibilities for in-specie transfers. If it’s doable and not too expensive for the customers, we’ll do it.

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These and the LISA are not in the pipeline yet. We have to prioritise based on market size, demand and development capacity.

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I will be looking for LISA too along with SIPP whenever it is launched :innocent:

Freetrade has just announced its hoping to release a SIPP by the end of the year; will Trading212 beat them to it? I’d be interested to see how the price compares (even though I’m waiting for Trading212 to launch).

We will launch SIPPs in Q1 2021 and it will be the cheapest SIPP service on the market. It will include all the free features that you get with Invest & ISA.

By then we’ll have 15,000+ stocks, many more features in AutoInvest and Pies and even smoother core service.

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I need to marry an English girl so I can get access to all these tax free investing goodies.

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that’s neither necessary nor helpful :slight_smile: all you need is to be resident in UK.

This will be amazing! Can we get it sooner? :wink:

Free trade launching SIPP sooner with ÂŁ9.99 a month and ÂŁ7 if you are free trade ISA plus customer. Hope Trading 212 launches SIPP soon too with no or lower fees :slight_smile:

Will we be able to transfer our portfolios into a SIPP account or will we need to start over?