Curtis Banks Your Future SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£0 Online application

£100 Paper based application

Annual fee

£260 - using a Curtis Banks Investment Partner &/or one deposit account

£560 full range of investment options

A further £100 is charged where no servicing IFA is linked to the SIPP

Transfer in fee

£50 for cash transfers, max £200

£100 in-specie transfers

In-specie transfer in fee

Additional £100 for directly held investment

Additional £250 for specialist investment

Taking Benefits

Accessing fund using Flexi-Access drawdown, £120

Uncrystallised Fund Pension Lump Sum, £120 per payment

Conversion from Capped to Flexi-Access drawdown, nil

Payment of total fund and SIPP closure, £250

Calculation of capped drawdown benefits, £120

Payment of pension (where income taken) £150 pa

Capped Drawdown reviews/LTA test at 75/excess LTA payment, £100

Annuity purchase fee

£250 plus transfer out cost

Payment of death benefits fee

Time costed (min £500)

Other fees

Specialist investment due diligence/purchase fee, £515

Specialist investment due diligence/purchase fee - top up, £260

Specialist investments annual fee, £205 per investment

Implementing pension sharing order, time costed, min £310

correspondence on non-payment of fees, £25

Management

Access: Direct or via IFA

Both

Online capability On-line SIPP application process which sees the establishment fee waived. Full online visibility of SIPP assets, drawdown summary, transaction history, illustrations. The online portal is completely responsive to any device to access on the go, with secure messaging for reliable, secure communications.

Details

Full online data

Permitted Investments

Commercial property

Unit trusts & OEICS

All platforms allowed

External deposit accounts

Unrestricted access to all 'sippable' 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

Subject to full due diligence

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Property purchase

Purchase fee

£750 (£950 off-panel solicitor)

plus a further £150 per member for shared purchases

Sale fee

£600 (£800 off-panel solictor)

Annual property administration fee

Property £475
Land £375

plus £150 per additional member for shared purchases

VAT registration fee

£150 per property

VAT return fees

£200 per annum

Other fees

Borrowing:

Extra initial charge, £250

Annual charge, £150 per borrower

Additional fee for second and each subsequent tenant, £300 pa* (capped at £600 per property, or £300 where a property manager is appointed)

SIPP Bank Account

SIPP bank account provider

Barclays

Current interest rate

0.1%

Structure

Scheme trustees

Suffolk Life Trustees Limited

Scheme administrator

The SIPP Provider is Curtis Banks Pensions *Curtis Banks Pensions is a trading name of Suffolk Life Pensions Limited (company number 1180742) which is authorised and regulated by the Financial Conduct Authority (FCA) (number 116298).

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information

Ownership

Curtis Banks was admitted to AIM market of London Stock Exchange 7th May 2015.

More information on the ownership structure and shareholder details can be found on the website here;

https://www.curtisbanks.co.uk/investors/

Year established

2009

Funds under management

£29.1 billion in total as at 31 December 2019

Number of SIPPs administered

76,514 as at 31 December 2019

Defaqto rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

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.