InvestAcc SIPP Lite

Initial/Set up fee

£95

Annual fee

£195

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

£100 to upgrade to full Minerva SIPP during first year of plan. After one year, no upgrade fee applies.

Access: Direct or via IFA

Both

Details

Members can request full 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

Requires upgrade to the full Minerva SIPP

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

Discretionary management

Unrestricted access

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Unless upgraded to the InvestAcc Minerva SIPP

Third party loans

Purchase fee

N/A

Sale fee

N/A

Annual property administration fee

N/A

VAT registration fee

N/A

VAT return fees

N/A

Other fees

N/A

SIPP bank account provider

Metro Bank

Current interest rate

2.95% from 1 December 2024

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 administration

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

SIPP Lite allows any one of the above investments, in addition to the designated SIPP bank account.

For additional investment options, the full Minerva SIPP is available.

A SIPP Lite plan can be upgraded to the full Minerva SIPP - details of the charge to upgrade are shown above in Other Fees.

An upgrade is not classed as a pension transfer or pension switch.

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.