IPM Self-Invested Personal Pension
Last updated: 28th November 2024
Charges Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
None
Annual fee
£580
Transfer in fee
None
Transfer out fee
£250
In specie transfer, £30 per asset
In-specie transfer in fee
Mainly covered by annual fee
£450 for an in specie property transfer
Taking benefits
Flexi-Access Drawdown:
Establishing Flexi-Access Drawdown £150
Drawdown annual fee £150 pa
Closure of SIPP using Flexi-Access drawdown £250
Capped drawdown review £150
Accessing uncrystallised funds pension lump sum facility £150 pa
Annuity purchase fee
£250
Payment of death benefits fee
£500
Other fees
Non-Standard investments: From £600 +vat
Non-Standard investments annual fee: £200 +vat
Overseas investments: up to £200 +vat
Drafting a stock transfer form: £30
Deed of assignment (for use in an in specie transfer): £100
Divorce: from £500 +vat (up to max £5,000 +vat)
Ad hoc valuations: £50 +vat
Management
Access: Direct or via IFA
Both (direct clients on a case by case basis)
Online capability
Details
Online access for advisers to view information held on their clients' IPM SIPPs (transfers, contributions, TBA, drawdown etc). Clients able to view their TBA online. No real time valuations via IPM website, advisers / clients able to use chosen investment house offering alongside IPMs
Permitted Investments
Commercial property
Unit trusts & OEICS
All platforms allowed
External deposit accounts
Unrestricted access to all 'sippable' 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
Will be considered in line with FCA standard / non standard investment guidance
Trustee Investment Plans
Insurance company funds
Hedge funds
Will be considered in line with FCA standard / non standard investment guidance
Traded endowment plans
Will be considered in line with FCA standard / non standard investment guidance
Third party loans
but will be considered on a case by case basis
Property purchase
Purchase fee
£550 per property
Sale fee
£350 per property
£700 Sale of Property at Auction
Annual property administration fee
None
VAT registration fee
£200
VAT return fees
£200 pa
Other fees
Mortgage arrangement, £550
Rent reviews, £150
Ownership change, £200 per member
Borrowing charge, £550
Dealing with rent arrears, £75 per month
Property development, from £400
Aborted Purchases, Up to £900
SIPP Bank Account
SIPP bank account provider
Metro Bank
Current interest rate
2.75%
Structure
Scheme trustees
I.P.M. Personal Pension Trustees Limited
Scheme administrator
I.P.M. SIPP Administration Limited
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
Ownership
Privately owned
Year established
1999 The original IPM Personal Pension Scheme was established in 1995
Funds under management
c£2.6 bn
Number of SIPPs administered
c5,000
Defaqato rating
5 star
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes
Misc
Flexi-Access Drawdown and UFPLS Offered
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.