IPM Self-Invested Personal Pension

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

None

Annual fee

£540

Transfer in fee

None

Transfer out fee

From £250 (additional in specie transfer charges can apply)

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

Payment of regular pension £150 per annum

Closure of SIPP using Flexi-Access drawdown £250

Capped Drawdown:

Payment of regular pension £150 per annum

Capped drawdown review £150

Uncrystallised funds pension lump sum:

£150 per annum

Annuity purchase fee

£250

Payment of death benefits fee

£500

Other fees

Non-Standard investments: From £400

Drafting a stock transfer form: £30

Deed of assignment (for use in an in specie transfer): £100

Pension Sharing : £500

Opening 4th or more bank account: £50

Ad-hoc valuation: £50

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

£450 per property

Sale fee

£350 per property

Annual property administration fee

None

VAT registration fee

£200

VAT return fees

£200

Other fees

New lease, £100

Assignment of a lease, £100

Grant of a licence, £100

Grant of a tenancy at Will, £100

Dealing with a rent review, £75

Ownership change, £200 per member

Repayment of loan £100

Ownership split amendment £100

Borrowing charge, £450

Dealing with rent arrears, £75 per month

Property development, from £200

SIPP Bank Account

SIPP bank account provider

Metro Bank

Current interest rate

0.1%

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.