I would be keen to understand as well if the costs would be much akin to say the ISA, and if you were considering your offering as something that could replace a workplace pension?
For example HL or Aegon provide pension accounts where your company pensions go automatically into the accounts and get invested in a default fund unless the user selects otherwise.
Fees are important for pensions as even the smallest of amounts could compound into a meaningful figure from say starting a pension at 18, to retiring at what 68? In the U.K., so if there was a way for workplace pension contributions to go directly into a 212 SIPP, that would be sweet!
I think in the past T212 has stated that they expect there to be no charges for their SIPP. However, this thread have been going on for literally years. If I were you, I would not expect anything about their SIPP until T212 publishes the details.
Last September it was announced that the launch was delayed to Q1 2025, and ever since itās been in limbo. Itās a bit hard to understand how such a big delay can happen for a product that was apparently almost ready a year ago.
Unless of course you packed it full of requested features in the meantime!
FT fumbled a company moving exchange, so now I have a pile of unlisted stock stuck in that account. T212 have their new exchange listing so hoping a transfer resolves.
As we approach the 2000-day anniversary since @silverpuma first requested the SIPP here, itās clear there is massive, long-standing demand for this feature.
Your recent updates confirm youāre actively working on it, which is great to hear. Many of us want to consolidate all our pensions/investments on your platform.
To mark this community milestone, could you give an updated estimated target launch date/month/period? Which of the hurdles you previously mentioned have you been able to handle, and what are you still working on?
Any update would be greatly appreciated by your users.
looking forward to some sort of concrete timeline that the team commit to. People dont understand how long these things take, regulators are useless and applications and due diligence is insane on things like this. Will be requesting a transfer to T212 the day the scheme allows it from my AJ Bell SIPP. Donāt let us down guys!
If Robinhood can just launch in the uk not long ago and promise a sipp and isa before this tax year ends it doesnāt take that long six years, but time will tell for both parties Iām still contributing into my pension and Lisa as we should never wait for any company to deliver products as time out the market doesnāt beat in the market
Platforms such as Prosper and InvestEngine also managed to launch their SIPPs seemingly very quickly. Trading212 is still in a good position to dominate the low cost SIPP market once it finally launches, but they have long lost the first mover advantage to others now.
What will be interesting is how fully featured the T212 SIPP will be. They imply that it will allow transfers-in and withdrawals from the start. Whereas InvestEngineās SIPP does not allow transfersā-in (except for certain providers and then they have only recently started) and their withdrawals are almost impossible.
If 212 allowed workplace pensions, thatās a game changer for me imo. No more 0.35% platform fee, and cheaper all world equity ETFs. Iām currently in a 0.38% fund and I think it might be this thing:
Itās not bad, but I would far prefer HMWO or VWRP, even FWRG.
Hi @KrisG I hope all is good with you and the team. Itās been 2 months since the last update - we appreciate you may not be able to share details, but any update would be greatly appreciated.
I know you have HMRC approval and a 2025 release date was being aimed for, is that still likely? If not, what is in the way and delaying things and is there a new planned release date/period?
You have a genuine opportunity here to pull in an insane market share and I know Iām certainly chomping at the bit to move my Pension over to a T212 SIPP. Very much look forward to updates. Thanks for the hard work. Cheers.
