In-Specie Transfers

My understanding is that the benefit of In-specie is no loss on the difference between the buying and selling price.

A pension to pension transfer should not incur any CGT.

I think you need to ask Sl/CM for the transfer values and their costs of buying into those funds you want. Also ask them if them do In-specie transfers out - I though that In-Specie was more normally used for transfer from stocks/funds you currently hold outside a pension. (In which case there would still be a potential CGT liability).

Does Sippdeal offer a helpdesk - they would know better than me :-)

P.S. If sippdeal dont offer a helpdesk go with Hargreaves Lansdown instead :-)

No CGT is involved in pension transfers.

I remember that it had me stumped for a time when I transferred (in cash) to them 6 years ago. I can't remember what it means but these posts may help . The Sippdeal MD, Andy Bell posts there under the nickname snooper66.

I use and am happy with Sippdeal.

hth

Daytona

Thanks to "Miss L. Toe" & Daytona for their helpful replies.

Just to bring you up to date. CGT is indeed a red-herring in this case - a little knowledge can be a dangerous thing. I believe the nub of the matter is whether Sippdeal offer the funds in which my pension fund is currently invested. If they do then the transfer can be effected without going via a cash conversion (i.e. in-specie). However such in-specie transfers can apparently be quite slow (3 months+).

If the same funds are not available within Sippdeal (or in any event) then the funds can be converted to cash within my current company (Standard Life) and transferred into a cash account within Sippdeal. This should be a faster transfer.

On the subject of customer service. Sippdeal answer their telephones very quickly but I wasn't over-impressed with the clarity of the explanation. Standard Life now have a robot answering their phones with which you must have detailed conversation (not just number presses) before you can get through to a real person - very frustrating.

Thanks again Jeff

That's obscene. I'd be launching a complaint if it wasn't done within a week.

Then they need to address this, because I'm reasonably financially literate and I couldn't understand it at the time. I'll post on TMF and hope Andy sees it.

Voice recognition !? I've not come across that before.

Daytona

Just out of interest (it is too late for me because I have gone HL) why did you decide on Sippdeal rather than Hargreaves Lansdowne ?

I havent needed to call HL as all was clear to me in their literature.

Size, range of products, charges and discounts, website layout, plus they are based around the corner from me. To be honest I hadn't looked closely enough at HL - now that I have they look very similar to Sippdeal.

Posters on this group seem quite keen on HL so I guess I should do some more homework.

Thanks Jeff

explanation.

Why not give their pensions help desk a call and ask the same question to them and let us all know how well they do :-)

0800 138 2121

I agree that the HL web site is not the most visually pleasing....

I agree, that's a good test for any prospective SIPP provider.

Jeff seems to like it......

Since Jeff's using funds the main cost will be the initial and annual (repeat) commissions. I'd be interested to know how the respective providers compare.

Jeff - are you aware of Exchange Traded Funds - they're cheap index trackers - 0% initial, 0.4% annual ?

Daytona

In message , Daytona writes

Dont invest based on charges alone, and who would want an index tracker when there are so many better performers, after charges, around?

index tracking = mediocrity.

Don't index funds do better than the average managed fund? So, unless you have great skill at choosing a managed fund manager, or can afford to pay an expert who actually knows his stuff, then you may be better off with index-tracking mediocrity.

Of course, you may need to pay a further expert to help you sift through the alleged experts in order to find the ones that are any good. Or that further expert may tell you it's an impossible task.

In message , GB writes

This is very old ground based on some research commissioned by Virgin over 8 years ago. Yes they do, mostly because most InsCo managed funds are useless and there are loads of funds which set out to do something else, like a 'balanced' fund, or pproperty or Fixed Interest etc

Anybody, including yourself, can select a fund manager who consistently beats the market. I have been giving the same names here for 10 years, so they arent a flash in the pan. e.g. Jupiter Income, Jupiter European, Invesco Perpetual Income etc.,

Or go 'manager of managers' Jupiter Merlin for example.

:-)

Oh I think this goes back long before that.

Umm, which are the ones that are going to do well in the *next* 10 years? These ones still?

In message , GB writes

No Idea, but thats where my money is, and there are plenty of others.

Why do you want to 'do well' all of a sudden. You seemed to be happy with mediocrity before, and why are you bothered with the future when you previously seemed only interested in tracking a group of shares selected merely by their past market capitalisation?