How do you pay your SIPP management fees?

2
Found 18th Oct 2017
Hello I’ve recently opened a SIPP and unsure if it’s best to keep cash in the account to cover fees or allow the provider to sell units. What is the norm? Thanks

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I would keep cash in the account to cover fees. I recently changed my sipp provider and kept getting letters through advising that one unit had been sold for as low as £10.97, I asked my financial adviser why they were selling only one unit periodically and he worked out that the pension provider was selling just one unit to cover their charges. Now I've changed it to take charges from the cash in the account and no longer get the letters. I should only hear from the provider now every 6 months with a summary of the pension plan.
Edited by: "Toptrumpet" 18th Oct 2017

Yep keep cash in account. No point selling units as price may not be in your favour.
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