On the basis that FIVE YEARS ago in April 2020 T212 stated āRealistically it should be live in 6-12 months from now.ā [i.e. October 2020 to April 2021] I have given up waiting and have gone to an alternative provider for my SIPP. I suggest that you might consider doing the same (not financial advice).
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I gave up and chose InvestEngine. Iāll likely be retired before Trading 212 launches their SIPP and it will probably have significant limitations on transfers in and out initially.
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Are there any updates you could share with us please?
Thanks in advance!
Nothing has changed since my last reply - we still canāt provide an ETA.
As itās nearly a month since the last update, thought I might ask if thereās any new news?
It looks like youāve got plenty of potential customers chomping at the bit to give you their pension savings, me included.
I understand setting up a pension scheme can be complex in itself, plus all the IT, customer support, infrastructure etc. Iām not asking for a timescale. But could you give us any small insights, to give us a bit of hope that things are progressing?
For example has a scheme actually been set up yet? Is there a deed and rules? Have you registered it with HMRC? Has scheme documentation been written? Are you testing systems? Are support staff being recruited and trained?
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Youāre right that a pension scheme involves quite a few moving parts. Iām happy to share a bit of insight into where things stand.
The Trading 212 SIPP Scheme is now registered with HMRC. Our core IT systems are in place, and weāre also actively working on the client UX.
On the operational side, weāve built out a Pensions team already, who are working on processes to ensure we can deliver a great experience from day one.
As always, weāll make sure we have all the needed capacity before the launch.
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T212 has a huge opportunity here to take market share from established players like ii, HL, fidelity etc. All these charge extortionate fx fees (1-1.5%), while T212 charges 0.15%. If they could keep it same, and allow users to keep cash in USD (like ii does), I can see lot of people shifting to t212.
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Sounds great, I will be transferring my private pensions as soon as it becomes available!
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Iāve moved my Sipp to Prosper in the interim. The platformās not great but it does what I need and it refunds ongoing fees for certain ETFs.
I had intended to switch to 212 but may leave it where it is now and open a Sipp here purely for individual shares when available. Psychologically, it helps to keep my trackers etc in a separate pot.
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Except ii, HL and Fidelity donāt charge 1-1.5%, ii is a flat fee not a percentage, HL is 0.45% capped at Ā£200 for shares/ETFs, Fidelity is 0.2% capped at Ā£90 for shares/ETFs. Even Vanguard is 0.15% and capped at Ā£375. So there is an opportunity for T212 here but not what you are saying.
Pretty certain poster is referencing FX fees not account fees.
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Seems like T212 SIPP is closer than ever.
I think one piece that will complete somehow the accounts offering for T212 to UK customer base.
@KrisG is there anyway that we could get a more definate timeline now?
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And would there be a transfer bonus offer
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This is great news, I hope you launch soon and support transfers in specie
Would love to provide you with one, but at the moment we canāt commit to a more concrete ETA. Iāll update the topic as soon as weāre confident in a timeline we can meet.
Possibly 
Weāre looking into a few incentive options.
Great canāt wait, just hoping itās this year
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Iām glad to see progress being made for SIPPs. But can I ask what the next obstacles are? Other than capacity?
Weāre navigating a couple of external steps. Just part of the process.
Really pleased to see progress being made, would like to have my SIPP with T212 as I suspect they will be cheaper than HL!
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Probably regulatory and/or technical issues.
As regulation is a tough bone to chew.
If there are third-party players involved (e.g. APIs or other IT infrastructure entities), compatibility of systems could be a challenge.