Options Simple SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£250

Annual fee

£300

Transfer in fee

Nil from a personal pension or defined contribution scheme

£250 from a defined benefits pension scheme

£350 from overseas/international scheme

Transfer out fee

£200 for full or partial cash transfers

£300 for full or partial cash transfers plus in-specie transfer of assets

£500 for transfer to overseas pension scheme

In-specie transfer in fee

£200 for the transfer of assets other than cash, excluding property and non-standard investments

Taking Benefits

Establishment of Flexi-Access Drawdown and payment of PCLS, £250

Monthly income £200 per year
Quarterly income £150 per year
Annual income £125 per year
Adhoc payment £100

Small pots payment, £125

Closure of scheme following Flexi-Access/UFPLS : one years annual administration fee

Annuity purchase fee

£300 partial or cash transfers

Payment of death benefits fee

Time costed, minimum £500

Other fees

CHAPs payment, £25

International payment, £30

Faster payment, £5

Divorce, time costed, £500 minimum

Additional valuations, £100

Client/trustee meetings, £200 plus travel

Management

Access: Direct or via IFA

Both

Online capability

Details

Scheme information, bank accounts, holdings with latest values

Access available to both member and IFA

Permitted Investments All types of investments are considered with no restrictions other than those not permitted by pension legislation

Commercial property

Overseas property

Unit trusts & OEICS

All platforms allowed

External deposit 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

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

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

Royal Bank of Scotland

Current interest rate

0%

Structure

Scheme trustees

Options UK Personal Pensions LLP

Scheme administrator

Options UK Personal Pensions LLP

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information

Ownership

STM Group

Year established

2009

Funds under management

Circa £1.7bn

Number of SIPPs administered

Circa 900

Defaqto Rating

Not available

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Misc

Flexible Drawdown offered

Yes

Scheme Pension offered

Yes, but through a separate Trust

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.