JLT Premier Full Investment SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£200

Annual fee

£440 if the SIPP holds standard investments only

Additional £150 if the SIPP holds one or more non-standard investments

Transfer in fee

Cash transfers in: nil if received within 3 months of the SIPP commencement date, £50 thereafter

Transfer out fee

£150, for partial or full transfer in cash

£75 per in specie investment transfer, in addition to £150 fee

£250, per in specie property transfer, in addition to £150 fee

£400, per transfer to QROPS

£200, per transfer for preparation of Deed of Assignment

In-specie transfer in fee

£75 per asset in addition to any cash transfer fee

£400 per property in addition to cash transfer fee

Taking Benefits

Establishing drawdown including payment of PCLS, per event: £100

Annual drawdown fee if income taken: £150, if nil income £75

Annual drawdown facility fee if more than one arrangement (per additional arrangement): £50

Additional ad hoc pension payments (if payments required in addition to any regular income): £75

Adjustment to level of regular payments or the frequency of payment per event: £75

Payment of UFPLS per event: £150

Compulsory reviews (capped drawdown) - in addition to annual drawdown administration fee: £75

Switch from Capped Drawdown to Flexi Access Drawdown: £75

In sufficient liquidity charge: £50

Closure of the SIPP if whole fund paid out: £200

Annuity purchase fee

£150

Payment of death benefits fee

Time cost, minimum £500

Other fees

Setting up of bank accounts in addition to the designated bank account, £50

Setting up standard investments (e.g. unit trusts, OEICS, Discretionary Managed Portfolios etc): £75

Ad hoc top up payments to existing investments: £25

Unquoted share purchase (including independent valuation): £1,350

Gold Bullion account with Royal Mint: £75

Third Party Loan: £650

Annual loan administration: £110

Ad hoc valuation: £50

Late fee payment charge: £50

Divorce/Pension Sharing Order: time cost, minimum £500

Management

Access: Direct or via IFA

Both

Online capability

Details

JLT PP offers online viewing access for all members and their Financial Advisers

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

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

On a case by case basis, subject to a maximum of 50% of the fund, on both a secured or unsecured basis

Property purchase

Purchase fee

£500 per property if Premier's preferred solicitor is used

£800 per property if own solicitor is used

Sale fee

£250 per property if Premier's preferred solicitor is used

£350 per property is own solicitor is used

Annual property administration fee

£310 per property per SIPP for the first property

£150 per property per SIPP for subsequent properties

VAT registration fee

Including Option to Tax: £250

Additional option to tax under existing VAT Registration: £200

VAT return fees

£250

Other fees

In specie property transfer: £400 per property

Borrowing arrangement: £350

Lease reviews: £125

Rent reviews: £75

Aborted property purchase/sale (time cost - minimum fee applied): £150

Rent arrears penalty charge (if SIPP member is tenant): £75 per quarter

Development of an existing property (time cost - minimum fee applied) : £300

SIPP Bank Account

SIPP bank account provider

Bank of Scotland

Current interest rate

0.025%

Structure

Scheme trustees

Personal Pension Trustees Limited

Scheme administrator

JLT Benefits Solutions Ltd (JLTBS)

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information

Ownership

Mercer

Year established

2001

Funds under management

TBC

Number of SIPPs administered

2,300+

Defaqto rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Misc

Flexi-Access Drawdown offered

Yes

Uncrystallised Funds Pension Lump Sum

Yes

Scheme Pension

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.