James Hay Modular iSIPP

Last updated: 22nd June 2020

Charges Charges are not subject to VAT unless indicated

Initial/Set up fee

Nil

Annual fee

£189 for core iSIPP (Nil if over £200,000 is invested in qualifying investments)

Transfer in fee

Nil

Transfer out fee

£150

Transfer to an overseas pension scheme, £400

In-specie transfer in fee

£50 per transfer up to a maximum of £200 per annum

Taking Benefits

Income Drawdown set up (per payment of PCLS) £100 plus VAT

Annual income drawdown charge (once benefits are crystallised as flexi-access or capped drawdown - even if nil income taken): £132 plus VAT

Review of income limits on capped drawdown £150 plus VAT

Uncrystallised funds pension lump sum payment £100 plus VAT

Annuity purchase fee

£150

Payment of death benefits fee

No fee normally charged for processing death benefits, however in exceptional circumstances a fee may be charged on a time / cost basis

Other fees

Investment related fees:

For each of the property module and whole of market module: £100 per year

Setting up an Investment Manager Account: £100

Setting up a Panel Execution Only Stockbroker account or fixed term deposit with one of the providers on the panel: Nil

Annual Investment Centre platform charge (percentage taken is based on the value of Investment Centre funds):

First £300,000, 0.25%
Next £300,000, 0.20%
Next £400,000, 0.15%
Next £500,000, 0.05%
Over £1,500,000, 0.01%

Investment Centre transactions:

Online, £0

Paper, £20 per instruction

External investments using Whole of Market module:

Online, £20 per investment provider

Paper, £50 per investment provider

Contributions:

Single ad hoc contribution, Nil

Regular contributions (set up by direct debit), £0

Regular contribution direct debit amendment, Nil

Other fees:

Annual paper valuation, £0

Ad hoc paper valuation, £50

Management

Access: Direct or via IFA

Both

Online capability

Details

Our secure online reporting system offers a full audit trail of transactions, asset histories and online communications. The service is available 24 hours a day, 7 days a week to Financial Advisers, Clients and Authorised Third Parties. There are a range of intuitive tools and features available including: performance reporting, asset allocation, daily valuations, transfer summaries, contribution summaries, breakdown of pension input periods, income & PAYE details, secure messaging facility, literature library, technical guides, Selftrade trading terminal, cross client analysis, document store, illustrations, online applications, fund research, trade tracking, cash alerts, IM money movements, adhoc and regular buys, sales and switches, model portfolio setup and re-balancing.

Permitted Investments

Commercial property

Unit trusts & OEICS

Via the James Hay Investment Centre

External deposit accounts

Subject to restrictions

Overseas listed stock and shares

Via the James Hay Investment Centre

UK listed stocks and shares

Via the James Hay Investment Centre

AIM shares

Via the James Hay Investment Centre

Gilts/corporate bonds

Via the James Hay Investment Centre

ETFs

Via the James Hay Investment Centre

Investment trusts

Via the James Hay Investment Centre

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

£600 plus VAT, if a panel solicitor it used, £1,100 if a non panel solicitor us used

Sale fee

£450 plus VAT, if a panel solicitor it used, £800 if a non panel solicitor us used

Annual property administration fee

£567 (first lettable unit/lease in each property) then £486 (each additional lettable unit/lease in each property), if self-managed

£1,027 (first lettable unit/lease in each property) then £594 (each additional lettable unit/lease in each property), if managed by CBRE

VAT registration fee

£120 plus VAT

VAT return fees

£108 plus VAT per year

Other fees

Purchase charge per additional member, £100 plus VAT

Annual charge per additional member, £108 plus VAT per annum

Mortgage arrangement charge, £250 plus VAT

Annual mortgage charge, £162 plus VAT

Purchase / sale cancellation fee, £300 plus VAT

SIPP Bank Account

SIPP bank account provider

Santander

Current interest rate

0%

Structure

Scheme trustees

James Hay Pension Trustees Ltd

Scheme administrator

James Hay Administration Company Ltd

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information

Ownership

Wholly owned by IFG Group Plc

Year established

1979

Funds under administration

Approximately £23 billion (May 2017)

Number of SIPPs administered

Approximately 56,000 (March 2015)

Defaqto rating

Five stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, only if IFA advised

Misc

Flexi-Access Drawdown/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.