@sipp Full SIPP
Last updated: 22nd June 2020
Charges Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
Advised : £258
Non-advised: £517
Annual fee
£640
Transfer in fee
None
Transfer out fee
£413 full transfer out
£207 partial transfer out
In-specie transfer in fee
None
Taking benefits
Crystallisation: £165 per event
Uncrystallised Funds Pension Lump Sum: £165 per payment
Regular income payment (annually, quarterly or monthly): £124 pa
Alteration to income: £52
Capped Drawdown review: £103
Annuity purchase fee
£103
Payment of death benefits fee
£207
Other fees
Standard Investment / Disinvestment Transactions: £0
A Standard Asset must also be capable of being accurately and fairly valued on an ongoing basis and readily realised within 30 days, whenever required.
Management
Access: Direct or via IFA
Both
Online capability
Details
Both IFA and member can have read-only access to plan data. IFA can have access to browser based illustration module. Online trading is available where this is supported by external investment service provider.
Permitted Investments
Commercial property
Unit trusts & OEICS
All platforms allowed
External deposit accounts
Accounts must be realisable within 30 days
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
On a case by case basis
Structured products
Trustee Investment Plans
Insurance company pension funds
Third Party Loans
Hedge funds
Traded endowment plans
Property purchase
Purchase fee
£589 per property
Sale fee
£362 per property
Annual property administration fee
£567 per property
VAT registration fee
£124
VAT return fees
£155 per year
Other fees
SIPP Borrowing (Institutional), £155
SIPP Borrowing (non institutional), £310
Syndicate / Joint Ownership Set up: 2 to 3 members £248, 4 plus members £517
Syndicate / Joint Ownership (Annual): 2 to 3 members £67, 4 plus members £129
Lease changes or additional (not part of a purchase), £207
Approval of plans / alterations, time cost (minimum £155)
Aborted property purchase, time cost (minimum £269)
Insurance fee (if not part of a block policy), £103 per year
Rent review if not carried out by property manager, £207
Missed rent payment (connected party), £52 each
Loan to 3rd parties £155 per year
Non-Standard Asset Purchase £413 each
Non-Standard Asset Thereafter £517 per annum (payable on 1st September each year)
Time cost (non-standard administration) £103 per hour
Pension Credit Order £207
SIPP Bank Account
SIPP bank account provider
Barclays Bank
Current interest rate
1% below Bank Base Rate
Structure
Scheme trustees
@sipp Pension Trustees Limited
Scheme administrator
@sipp Limited
Minimum contributions
Regular payments
None
Transfers/Single Premiums
None
Min additional
None
Company Information
Ownership
Privately owned
Year established
2001
Funds under management
£1.67bn as at February 2020
Number of SIPPs administered
4,144 as at February 2020
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised
Misc
Flexi-Access Drawdown/UFPLS Offered
Yes
Notes
@sipp was established in 2001 to deliver the highest quality of technical expertise and customer service in Self Invested Personal Pension provision. @sipp has grown largely on the quality of service delivered to IFA clients looking to invest in commercial property but has since grown to provide a service across the asset classes. With @sipp being totally independent from life company or fund management influences, this gives the IFA and their client total freedom to choose from the wider market and select assets to meet individual needs. The business initially supported IFAs in the central belt of Scotland but soon spread to cover IFAs across the UK. @sipp is now focussed on following a strategy to build a national provider of real SIPPs as the sector professionalises in response to market and regulatory influences.
Disclaimer
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.