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  • If you open a stocks and shares ISA then you can invest in a range of stuff, index trackers, funds, shares etc.

    Equally you could put it in your SIPP if you don't need access to it anytime soon.

    If you add it to a managed pension I think they will invest it for you i e. It won't stay as cash (as far as I understand it)

  • Is there typically a cost to opening and/or running a S&S ISA with a high street bank? That might be a neat option if it's not spendy to maintain.

    EDIT: "We charge an annual service fee of 0.25% for the running of your investment portfolio, which is payable quarterly and taken from your nominated account.

    Fund managers also apply an annual management charge and other expenses which are deducted directly from the fund. These will vary depending on the portfolio you choose.

    This means if you invest £1000 over a year and both the service fee and the Fund manager's annual charge are 0.25%, your ongoing costs for the first year will be around £5.

    You’ll find a breakdown of all of the charges in the relevant portfolio's 'Costs and charges' PDF document."

  • Can open a S&S ISA with someone like Vanguard. Fees are minimal (0.15%) and it’s straightforward

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