Dentons SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£350

Annual fee

£420 for Single Portfolio SIPP (which allows one platform or one investment manager who is pre-approved by Dentons)

£570 for Full SIPP

Transfer in fee

£50 per transfer

£250 per transfer from Defined Benefits scheme/safeguarded rights

Transfer out fee

Time cost from £250. This includes the winding up of the SIPP, preparation of legal documents to close the trust, moving cash & completion of transferring information request form.

In-specie transfer in fee

Time cost

Taking Benefits

Flexi-Access Drawdown:

Benefit Crystallisation £250

Payment of regular pension £120 per annum

Annual review £110 per review

Capped Drawdown:

Benefit Crystallisation £250

Payment of regular pension £120 per annum

Annual review of pension income £180 per review (can opt out in writing)

Formal review of pension income £250 per review (mandatory)

Conversion of capped drawdown to flexi-access drawdown pension £Nil

Uncrystallised funds pension lump sum:

Benefit Crystallisation £250

Annuity purchase fee

From £200

Payment of death benefits fee

From £200

Other fees

Setting up investment portfolios or platforms, from £180

Non standard asset transaction, from £500

Opening additional bank accounts, £130 per account

HMRC Scheme Return fees £60 per annum

Management

Access: Direct or via IFA

Both

Online capability

Details

Dentons has an existing client online portal where clients & their advisers can see details of the SIPP records online, including:
· Assets held
· Consolidated valuations
· Cash account balance
· Contributions made
· Transfers - a history of all transfers both in and out of the SIPP
· Income drawdown information - such as benefits taken and benefit calculations

A demo can be viewed at http://www.dentonspensions.co.uk/Media-Centre/Web-portal-demo/

All literature and case studies are available to download.

Permitted Investments

Commercial property

Unit trusts & OEICS

All platforms allowed

External deposit accounts

Yes, subject to restrictions

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

UK unlisted shares only and subject to approval

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Subject to a full review of the proposed investment by the Dentons Investment committee. Third party loans need to be secured and a minimum of £5,000 liquid funds need to be kept in the SIPP

Property purchase

Purchase fee

Time cost from £800 per property

Sale fee

Time cost from £250 per property

Annual property administration fee

Time cost - Dentons will apply a fee for ensuring rental invoices are issued, rental monies are collected and that the property is appropriately insured and for other property administration, as required.

VAT registration fee

£190

VAT return fees

£125

Other fees

Environmental search, £150

SIPP Bank Account

SIPP bank account provider

Cater Allen

Current interest rate

Up to £99,999 - 0.01%
£100,000 - £499,999 - 0.05%
£500,000 plus - 0.1%

Structure

Scheme trustees

The Declaration of Sub-Trust sets up the SIPP under the umbrella of a master trust and appoints you as the co-trustee of your SIPP along with Denton & Co Trustees Limited.

Scheme administrator

Dentons Pension Management Ltd

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

£50,000

Min additional

No minimum

Company Information

Ownership

Privately owned

Year established

1996

Funds under administration

Over £5.3 billion SIPP funds under administration across SIPP and SSAS.

Number of SIPPs administered

over 6,400

Defaqto Rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes. If the transfer is over £30,000, a positive recommendation from a Transfer Specialist is required

Misc

Flexi-Access Drawdown offered

Yes

Uncrystallised Funds Pension Lump Sum offered

Yes

Scheme Pension offered

No

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.