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

With the initial launch of the SIPP accounts, we’ll support outgoing cash transfers. We’ll do our best to enable incoming transfers, too, with the next updates.

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Hi Momchil / anyone else,

Thanks for the reply. Sorry - I don’t quite understand!

Does this mean we will be able to transfer cash into the SIPP but we won’t initially be able to transfer funds/stocks?

What does outgoing cash transfers mean?

i.e I’m looking to move from Scottish Widows so I will have to convert to cash before transferring anyways.

What is the potential launch date for allowing Transfer-in’s (In specie and/or cash)?

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The most important question!

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It will be interesting to see what withdrawal and transfer-out capabilities Trading212 advertises.

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Will the SIPP allow for salary sacrifice finding directly for the employer?

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With the initial launch, you’ll be able to use the SIPP normally, but we won’t offer the ability to transfer holdings from another broker to us (incoming transfer) right away.

There’s no ETA to share for the time being. We’ll keep you posted on our progress.

You’ll be able to make personal contributions with the initial release, but we’ll let you know if employer contributions become possible at a later stage.

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That’s a bummer :frowning: I really hope you’ll introduce employer contributions ASAP as you can save more money than personal contributions. Thanks anyway for answering :slight_smile:

I’ll be happy with a barebones product for a while.

T212 has a track record of iterating and adding new features, so I have complete faith transfers, employer contributions and other features that clients want will be added to meet demand.

One that’s on my wishlist is support for 0% withholding tax on US shares, and in other markets if similar such relief is available.

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Yeah - cash / share transfers in will be crucial for me but happy to try out the platform in the meantime. I plan to transfer my workplace pensions over and accumulate within T212.

I’m also interested to see their draw down features!

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Without in-specie transfer-in, or employer contributions, unfortunately the product doesn’t check my 2 boxes.

Looking forward to a future where these are supported.

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I can see why this might be a dealbreaker.

It’s in T212’s interests to introduce in-specie transfers – I’d imagine it would boost assets under management significantly – so you’d hope it will be priority after launch.

I’m going to build up some new positions then transfer my other holdings in when I can.

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Haven’t seen this confirmed on here as yet, but T212 said in a reddit thread that there will no Sipp account fee – just the 0.15% forex charge.

Bravo if so :clap:

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That’s right — our SIPPs will be free, and there will be no account fees other than the 0.15% FX fee that applies when trading.

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Well ummm as soon as the transfers open, it’s goodbye freetrade

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I am very much looking forward to moving my pension from vanguard to T212. Looking forward to the release

I guess in the meantime we’ll have to contribute elsewhere and then transfer to T212 once they accept incoming transfers?

(Assuming the SIPP is priced competitively, like other T212 offerings :smiley:)

Edit: Just seen the post lower down indicate the very low fees. Great news! :smiley:

Well, that sounds very good; well done. If managed properly, this can be a very successful product for T212.

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I think this is only true if you have your own LTD and paying yourself via that. Which means when you make the salary sacrifice you’ll save from paying the corporate NI as well.

if you are working as an employee with PAYE the benefits of contributing manually to a SIPP and salary sacrifice is same.

(Big side note as well if you are an employee: I’ve yet to see a company that allows you to pick your own pension provider.)

I can pick the SIPP I want with my company and salary sacrifice directly paid into your pot as gross salary is more beneficial than doing it via money already taxed.

When an employee agrees to sacrifice a portion of your salary towards your pension, they’re effectively redirecting their pre-tax income. This lowers their overall taxable income and results in tax savings. The tax savings come from lower income tax and National Insurance contributions (NICs).

The employer also saves on National Insurance contributions. They may choose to contribute a part or the entire amount saved to employees pensions.

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