Embark Pensions – Option SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£0, online application

Annual fee

£190, this includes one free standard investment

Transfer in fee

£50 per transfer, overseas transfer in £100

Transfer out fee

Cash transfer to a UK pension scheme, £100

In-specie transfer out, £50 per asset

Cash transfer to an overseas pension scheme £300

In-specie transfer in fee

£50 per transfer

Taking Benefits

Benefit Crystallisation Event:

Initial Fee, £100

Drawdown or beneficiaries drawdown, £100 per annum

The annual fee does not apply to payment of Pension Commencement Lump Sums.
Payment of regular pension £100 per annum

Uncrystallised funds pension lump sum:

£100 per payment

Annuity purchase fee


Payment of death benefits fee

Lump sum payment, £100

Dependents pension (i.e. Income Drawdown), £100 per annum

Other fees


Additional standard investment , £25 per annum

Pension sharing order, £150

SIPP Closure Fee £100

Contributions via Direct Debit £10 per year


Access: Direct or via IFA


Online capability


Through the Embark Pensions Portal IFAs can apply fully online (no need for paper), perform illustrations online, track transfers and view valuations of clients assets. Direct clients can apply online, track their transfers and obtain valuations.

Permitted Investments

Commercial property

Unit trusts & OEICS

All platforms allowed

External deposit accounts

Where 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


All stockbrokers allowed

Investment trusts

All stockbrokers allowed

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

£700 per property using panel solicitor

£900 per property using off panel solicitor

Sale fee


Annual property administration fee

£600 (£800 for complex property)

Additional member fee £100

VAT registration fee


VAT return fees


Other fees

Borrowing, £385 initial, £150 per annum per member

Lease set up/amends £285

SIPP Bank Account

SIPP bank account provider

Metro Bank

Current interest rate



Scheme trustees

Embark Pensions Trustees Ltd

Scheme administrator

Embark Pensions

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information


Privately owned

Year established


Funds under administration

£33 billion as at 1 March 2020 across the Embark group

Number of SIPPs administered

360,000 individual clients across the Embark group

Defaqto rating

Five Stars


Accepts benefits from defined benefit / final salary schemes?

Yes, only if IFA advised


Flexible Drawdown offered


Uncrystallised Funds Pension Lump Sum


Scheme Pension offered



The Option SIPP has been created to provide a pension product that can be tailored to the individual need of each client.

We are all individuals, our pension should be too!

The Option SIPP is underpinned by 3 basic pillars:



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.