SIPP administrators

Tuesday, Jun 12 2018 by

Following on the collapse of EPML in November 2016, my SIPP account has been transferred to Suffolk Life as they acquired EPML.
Suffolk Life wrote to all of its customers, who would be affected by the change in Sipp provider. It explained that there was an option to transfer to another Sipp provider without incurring a charge. However, this could only be done with an investor’s transfer instruction.
I have instructed Suffolk Life to transfer the fund in my SIPP account to HL because of the high annual charge incurred even my pension fund is of small value.
They said there is an asset held in Afren plc which has been delisted from the stock market couldn’t be disinvested or transferred to HL. Has anyone experienced this problem in transferring fund between SIPP administrators? Anyone could shed some light on this?


Unlock this article instantly by logging into your account

Don’t have an account? Register for free and we’ll get out your way

Disclaimer:  

As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.


Do you like this Post?
Yes
No
0 thumbs up
0 thumbs down
Share this post with friends




2 Posts on this Thread show/hide all

slopsjon 12th Jun '18 1 of 2

Afren PLC went into administration in 2015, so is there anything left of value in that investment. AlixPartners handled the administration. I have been involved in a company delisting and I was sent a share certificate as my shares were originally in a nomaniee account.


It would also seem that the diectors of Afren were subject to an SFO investigation.

| Link | Share
cig 12th Jun '18 2 of 2

I had a similar problem with a bankrupt phantom holding preventing the orderly closure of an ISA. A form letter from the liquidator (that I think I found online) declaring there was no recovery prospects for equity holders ultimately satisfied the broker (after getting past the „computer says no“ routine).

| Link | Share

Please subscribe to submit a comment





Stock Picking Tutorial Centre


Related Content
ADFVN Level 2
ADFVN Level 2
Brokers and Service Providers 6th Nov '18

Best SIPP provider
Best SIPP provider
pension fund 12th Apr

Interactive investor fee changes
Interactive investor fee changes
Brokers and Service Providers 9th Apr

Trading Patform
Trading Patform
Brokers and Service Providers 25th Feb

Best L1 live share provider
Best L1 live share provider
Brokers and Service Providers 4th Feb


Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis