M&G Pension Account (was Ascentric)

Initial/Set up fee

£0

Annual fee

Annual platform charge on all securities including funds, equities, bonds, fixed term cash deposits and notice accounts, deducted monthly in arrears:

Asset value up to £1 million 0.30%

Asset value between £1 million and £3 million, 0.10%

Asset value between £3 million and £5 million, 0.06%
Asset value in excess £5m - price available on request.

Minimum charge £15 per month

Transfer in fee

nil

Transfer out fee

nil

In-specie transfer in fee

nil

Taking benefits

nil

Additional fees

nil

Annuity purchase fee

nil

Payment of death benefits fee

nil

Other fees

nil

Access: Direct or via IFA

Via IFA only

Details

The M&G SIPP offers a trading platform which allows the investor and adviser to purchase selected assets within a client's SIPP product.

Commercial property

Overseas property

Unit trusts & OEICS

All platforms allowed

External deposit accounts

Overseas listed stock and shares

All stockbrokers allowed

UK listed stocks and shares

All stockbrokers allowed

AIM shares

All stockbrokers allowed

Gilts/corporate bonds

All stockbrokers allowed

ETFs

All stockbrokers allowed

Investment trusts

All stockbrokers allowed

Discretionary management

Unrestricted access

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Purchase fee

N/A

Sale fee

N/A

Annual property administration fee

N/A

VAT registration fee

N/A

VAT return fees

N/A

Other fees

N/A

SIPP bank account provider

M&G splits its money between a range of regulated deposit takers.

Current interest rate

4.0598%

Scheme trustees

IFDL

Scheme administrator

IFDL

Regular payments

£100 per month if contributions are made by direct debit

No minimum if contributions are made by standing order

Transfers/Single Premiums

No minimum

Min additional

No minimum

Ownership

Wholly owned by M&G

Year established

2009

Funds under management

£17 billion across the platform

Number of SIPPs administered

TBC

Defaqto rating

Five Stars

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Flexi-Access Drawdown / UFPLS offered

Yes

Scheme Pension offered

No

Notes

The information within this section is for your general information purposes only and does not constitute investment advice. It is not an offer to purchase or sell any particular asset and it does not contain all of the information which an investor may require in order to make an investment decision. Please obtain professional advice before entering into any new arrangement. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of the information of this site.