InvestAcc Minerva SIPP
Last updated: 28th November 2024
Charges Charges are subject to VAT although shown excluding VAT
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.
Management
Access: Direct or via IFA
Both
Online capability
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.
Permitted Investments
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
Property purchase
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
SIPP bank account provider
Metro Bank
Current interest rate
2.95% from 1 December 2024
Structure
Scheme trustees
InvestAcc Pension Trustees Limited
Scheme administrator
InvestAcc Pension Administration Limited
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
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
Transfers
Accepts DB transfers?
Yes, if IFA advised
Misc
Flexi-Access Drawdown offered
Yes
Uncrystallised Funds Pension Lump Sum
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.