Bestinvest Best SIPP

Last updated: 22nd June 2020

Charges Charges are not subject to VAT unless specified

Initial/Set up fee

None

Annual fee

£100 plus VAT administration fee plus
Tiered Service Fee:

Investment value up to £250,000: 0.3% pa

£250,000 to £1million: 0.2% pa

Over £1million: no charge

Transfer in fee

None

Transfer out fee

None

In-specie transfer in fee

None

Taking Benefits

Set up fee, flexible drawdown, nil

Annual fee for income payments, after PCLS taken, nil for SIPP values of £100,000 or more, £100 plus VAT otherwise

Ad hoc income payments, £25 plus VAT

Alteration to income payment or frequency, £25 plus VAT

Annuity purchase fee

£150 plus VAT (£75 plus VAT if bought through Bestinvest)

Payment of death benefits fee

Time costed

Other fees

Share dealing:

Online purchase of UK shares: £7.50 per trade, regardless of size or frequency

Limit orders: free

Deals placed by phone £75 per deal

Transfer out to an overseas pension £250

Closure of account £290 plus VAT if within 1 year, £175 plus VAT if within 2 years, nil thereafter

Pension splitting on divorce, time costed

Refund of overpaid contributions, £75 plus VAT

Management

Access: Direct or via IFA

Direct only

Online capability

Details

Full online access for member dealing, valuations and fund switching

Permitted Investments

Commercial property

Overseas property

Unit trusts & OEICS

In house platform only

External deposit accounts

Overseas listed stock and shares

In house platform only

UK listed stocks and shares

In house platform only

AIM shares

In house platform only

Gilts/corporate bonds

ETFs

In house platform only

Investment trusts & REITS & EPUTS

In house platform only

Discretionary management

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Property purchase

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

SIPP bank account provider

SEI

Current interest rate

0.25%

Structure

Scheme trustees

EBS Management plc

Scheme administrator

EBS Management plc

Minimum contributions

Regular payments

£100

Transfers/Single Premiums

£3,600

Min additional

£500 lump sum or transfer

Company Information

Ownership

Part of the Tilney Group

Year established

1986

Funds under management

Circa £20 billion across the Tilney Group

Number of SIPPs administered

Not disclosed

Defaqto Rating

Not rated

Transfers

Accepts benefits from defined benefit / final salary schemes?

Not known

Misc

Flexi-Access Drawdown/ UFPLS offered

Yes

Notes

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.