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

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61

T212 already dominates the likes of FT, it’s been multiple times the size of FT for a while now and most of its feature offerings are better too. :thinking:

62

That’s exactly what I was thinking. Why not free?

I guess it will depend on whether shares in a SIPP can be lent out or not. Shares in an ISA cannot, but I don’t know about SIPPs.

63

I have heard about SIPP loans, but can’t find any single article that talks about securities lending in regards to SIPP’s

64

Totally agree mate

More markets/investment choices, pies(automation), faster execution, desktop app, etc…

I guess there is a fee maybe because of admin expenses but still 9.99 will not be an issue from my point of view

65

I don’t know how else they would “monetise” it.

Maybe offering future retirement products such as annuities?

66

Huh? T212 themselves said that Invest & ISA are profit making now so why would anyone want to pay for a platform that is able to run at a profit while being zero fees/no commission?

I swear some people just want to give money away :sweat_smile:

Introducing more features and SIPP/JISA just means they will have even more users signing up which means even more profit while still offering a fee free service, win win for everyone!

67

SIPPs aren’t ISAs, last I heard 212 never said they’d be free

68

@Team212 @George @David any news on the SIPP still Q1 or later?

69

Exactly.
If I remember correctly (not 100% sure), they said they’d be “the least expensive on the market”, but not free.

70

AlexK we’re waiting for your response

71

Waiting for response from T212.

72

There was this previous post. Of course much has changed since April '20, particularly the onboarding of so many new clients, meaning that attention may have been diverted towards making the existing services work better. (Apologies, - I now see this post appeared near the top and this thread and was quoted several times after.)

73

Fast foward to March 2021, Trading 212 will have a 0.15% FX fee, and about the SIPP?

Are you willing to pay for a SIPP on Trading 212? :wink:

EDIT: I saw your new post about paying a SIPP fee. But pay for both?

74

Not 100% free any more.

0.15% FX fee on foreign currency.

Trading 212 is imitating other brokers in the market.

75

0.15% is not of a big deal.

But the question is still here: Is there going to be a SIPP option?

76

As things are going, perhaps:

  • a 2.50 GBP/month fee for the SIPP
  • a 2.50 GBP/month fee for the ISA

Or an “UK Tax Friendly Accounts” plan of 4.00 GBP/month for both SIPP + ISA.

PS: And afterwards adding new features, like other tax-wrappers, JISA and LISA, at 2.50 GBP/month fee each or upgrading the “UK Tax Friendly Accounts” plan with new features and new price.

77

You can get an ISA for free, but I wouldn’t mind a service fee for ETFs and OEICs.

78

I made a few posts advocating for a fixed fee structure. Either for features like a “premium account” or new account types like “sipp” or “pay for in-specie transfers”. Even in those posts I warned about possible percentage fees creeping up in time.

I got 10s of replies telling me to shut up, “why would you want to pay for something that is free” etc. People imagining it’ll be free forever. And not realising percentage fees will creep up to be bigger than most fixed fee structures.

79

Still no sipp news. Would be great to see what they are working on (with comments disabled)

80

This is a much better fee structure:

  • a 0.00 GBP/month fee for the SIPP
  • a 0.00 GBP/month fee for the ISA