SIPP Transfer to Vanguard- has anyone done this ?

[hattie43]

Can I ask if you are happy , particularly with the process , fees and fund choice.
Any feedback gratefully received as I'm thinking of doing this .

Yes, I have done this.

Fees are very low. The site is easy to navigate, and provides very clear information about performance of the funds and their fees.

The choice is limited to Vanguard's own funds - definitely take a close look at these before you transfer to ensure they suit your requirements, as they are much more limited than many providers.
Transferring between the funds is straightforward.

The transfer was simple to initiate, but it did take a long time (several months) to process through.

I haven’t ever transferred money in terms of a pension but I’ve done ISA transfers and it’s fine.

User interface is basic but does what it needs to do. The funds can be found on the website without signing up, they are fairly limited but they are dirt cheap.

You can choose from equity funds at your risk appetite or you can just opt for one of their target retirement funds which auto balances risk appetite based on when you retire (funds get less risky the closer you are to retirement).

I think it very much depends on the size of your pension you are transferring, and how dependent on it you are when you retire. If it’s only a small pot, then the limited fund choice would be fine, but if it’s a large amount and your only source of income in retirement, then you’re probably going to be better off getting some advice.

I’ve done this with a reasonable pot. It took ages to transfer with back and forth between vanguard and the previous administrators but I’m really happy with the returns and ease of navigating the site.

It’s worth looking at Interactive Investor and Hargreaves Lansdown as well, as they are offering cash back on SIPP transfers, and depending on the value, the cash back could be four figures

Thanks everyone.
I have already had advice and it is invested on a fully managed basis but despite having circa £9k a year in fees the pot value has stagnated the last 2 years . I have just received a letter to say the investment has underperformed against expectations so it has galvanised me to do something else .

I have moved JISAs from HL to Vanguard due to the lower fees, but I do find the interface less user friendly, particularly on a phone. There is also much less choice of funds and I don’t think you can buy shares direct. It is fine if you have a limited number of funds you are happy to ‘set and forget’ and I am ok with it for the kids isas but I haven’t decided to move my isa or sipp over for these reasons although a large part of that is probably inertia as well!

£9k a year is a lot of fees, your pot must be well into six figures, so definitely worth checking out the cashback offers with II or HL.

Lots of portfolios have lost money the last two years, my Sipp has been flat over the last two years, so would have been better of in cash, but I have paid a fixed fee to II, which is now around £240 a year I think.