JLT Premier Single Investment SIPP
Last updated: 22nd June 2020
Charges Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
Nil
Annual fee
£300 annually in advance
Transfer in fee
Nil if received within 3 months of SIPP commencement date, otherwise £50 per transfer
Transfer out fee
£150 - partial / full cash transfers
£400 - transfer to QROPS
£75 - in-specie in addition to transfer fee
£200 - preparation of Deed of Assignment
In-specie transfer in fee
£75
Taking Benefits
£100 upon establishing drawdown, incl payment of PCLS (per event)
Annual drawdown fee £150 (£75 if no income taken)
Additional annual drawdown fee if more than one arrangement £50 pa, capped at £100
Additional ad hoc drawdown payments £75
UFPLS £150 per event
Compulsory capped drawdown reviews £75
Switch from capped drawdown to flexi-access drawdown £75
SIPP closure £200
Annuity purchase fee
£150
Payment of death benefits fee
Time costed - minimum £500
Other fees
Ad-hoc cash contributions (if in excess of annual allowance) £50
Investment transactions:
Setting up additional bank account £50
Setting up standard investment (e.g. discretionary portfolio or investment platform account) £75
Ad-hoc top up payments to existing investments, including regular cheque payments £25
Management
Access: Direct or via IFA
Both
Online capability
Details
JLT Premier Pensions 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
Property purchase
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
SIPP bank account provider
Bank of Scotland
Current interest rate
0.025%
Structure
Scheme trustees
Personal Pension Trustees Limited
Scheme administrator
JLT Benefit Solutions Ltd (JLTBS)
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
Ownership
Mercer
Year established
SIPP established 2001
Funds under management
TBC
Number of SIPPs administered
2,300+
Defaqto rating
Four 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
All investments are subject to JLT investment mandate and investment processes
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.