InvestAcc Minerva SIPP

Initial/Set up fee

None

Annual fee

£400

Group discounts

2 - 4 members, £360 per member (10% discount)

5 - 11 members, £300 per member (25% discount)

12+ members, £200 per member (50% discount)

Transfer in fee

None

Transfer out fee

None

In-specie transfer in fee

None

Taking Benefits

Flexi-Access Drawdown:

Payment of benefits: £100 per annum

If no benefit is taken, no fee will apply.

Capped Drawdown:

Payment of benefits: £100 per annum

If no benefit is taken, no fee will apply.

Uncrystallised funds pension lump sum:

Payment of benefits: £100 per annum

If no benefit is taken, no fee will apply.

Annuity purchase fee

None

Payment of death benefits fee

None

Other fees

Late payment of our fees: charge of 1% per month on the amount outstanding.

Access: Direct or via IFA

Both

Details

Members are provided with individual online access to the 'SIPP Online' feature via www.investaccpensions.co.uk. Members can view SIPP balances, valuations and a full transaction history. An online illustration and application facility is available for registered financial advisers.

Commercial property

Unit trusts & OEICS

All platforms allowed

External 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

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Purchase fee

None

Sale fee

£250 per property - if the property is jointly owned by multiple SIPPs, the fee is split

Annual property

£350 per property - if the property is jointly owned by multiple SIPPs, the fee is split

VAT registration fee

None

VAT return fees

None

Other fees

If an independent property manager is appointed to manage the property/land, the charge is £350 +VAT in the first year, followed by a reduced fee of £100 +VAT in future years, whilst the property manager is acting.

SIPP bank account provider

Metro Bank

Current interest rate

3.25%

Scheme trustees

InvestAcc Pension Trustees Limited

Scheme administrator

InvestAcc Pension Administration Limited

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Ownership

Privately owned by InvestAcc Group Limited

Year established

1992

Funds under management

Combined assets over £4 billion as at 1st May 2024

Number of SIPPs administered

Over 12,000 customers

Defaqto rating

Not available

Accepts DB transfers?

Yes, if IFA advised

Flexi-Access Drawdown offered

Yes

Uncrystallised Funds Pension Lump Sum

Yes

Scheme Pension offered

No

Notes

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.