Embark Pensions – Full & Option SIPP

Last updated: 25th April 2024

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£0, online application

Annual fee

Options SIPP - £200, this includes one free standard investment

Full SIPP - £420, this includes one free standard investment

Transfer in fee

£50 per transfer

Transfer out fee

Cash transfer to a UK pension scheme, £50

In-specie transfer out, £50 per asset (in addition to cash transfer out fee)

Cash transfer to an overseas pension scheme £250

In-specie transfer in fee

£50 per transfer

Taking Benefits

Benefit Crystallisation Event:

Initial Fee, £105

Drawdown or beneficiaries drawdown, £105 per annum

Payment of regular pension £105 per annum

Uncrystallised funds pension lump sum: £105 per payment

Annuity purchase fee


Payment of death benefits fee

Lump sum payment, £105

Dependents pension (i.e. Income Drawdown), £105 per annum

Other fees


Additional standard investment , £25 per annum

Fixed Term Bank account (non-standard), £100

Pension sharing order, £250

SIPP Closure Fee, £105

Contributions via Direct Debit, £10 per year

Full SIPP only:

Due diligence assessment, Initial: £550 Annual fee: £200

Buy, Sell or partial disposals (Non Standard investments), £850

Top ups to existing holdings, £250


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

Limited to certain providers

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 (Full SIPP only)

Purchase fee

£700 per property using panel solicitor

Sale fee


Annual property administration fee

£625 (£825 for complex property)

Additional member fee, £105

VAT registration fee


VAT return fees

£100 per quarter

Other fees

Borrowing, £400 initial, £150 per annum per member

Lease set up/amends £300

Recovery of rent arrears, £75 per quarter

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


Wholly owned by Embark Group

Year established


Funds under administration

£36.2 billion

Number of SIPPs administered


Defaqto rating

Four 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.