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.