Prudential Full SIPP

Last updated: 23rd May 2017

Charges Charges are not subject to VAT

Initial/Set up fee

£300

Annual fee

£425 per year

Transfer in fee

None

Transfer out fee

None if cash transfer

£100 if in specie transfer

In-specie transfer in fee

In specie transfer in (excluding property) £100 basic fee plus between £0 and £25 per investment. Maximum in specie transfer in fees £300

Property in specie transfer fee £1,700 - £1,900 per property

Income Drawdown

Initial: None

Ongoing: £100 per year

Additional Income Drawdown fees

None

Annuity purchase fee

None

Payment of death benefits fee

None

Other fees

Paper dealing charges £25 - £75 per transaction
Paperless dealing charges, £0

Ad hoc valuation, time costed £100 minimum

Borrowing facility (other than property) £100 per year

Overdraft facility, £35 creation, £100 renewal

Deals placed via Cofunds £0

Other investment transactions time costed

Appointment of an investment manager £0

Management

Access: Direct or via IFA

Via IFA only

Online capability

Details

Not confirmed

Permitted Investments

Commercial property

Overseas property

Unit trusts & OEICS

Via a variety of platforms

External deposit accounts

With exclusions and restrictions

Overseas listed stock and shares

A variety of stockbrokers available

UK listed stocks and shares

A variety of stockbrokers available

AIM shares

A variety of stockbrokers available

Gilts/corporate bonds

A variety of stockbrokers available

ETFs

A variety of stockbrokers available

Investment trusts

A variety of stockbrokers available

Discretionary management

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Subject to restrictions

Traded endowment plans

Intellectual property

Brands / Trademarks

Goodwill

Third party loans

Property purchase

Purchase fee

Time costed, estimate of £1,700 - £1,900 per property

Sale fee

Time costed, estimate of £600 - £800 per property

Annual property administration fee

Annual property accounting fee, time costed estimate of £600 per year

Annual property management fee, time costed estimate of £700 per year

Property facility fee £100 per property per year

VAT registration fee

Included in fee below

VAT return fees

£150 per property per year

Other fees

Variation of proportion of property ownership, time costed estimate of £500 to £700

Borrowing facility fee £100 per year

SIPP Bank Account

SIPP bank account provider

Bank of Scotland

Current interest rate

£0 - £250,000, 0.15%

£250,000 plus, Bank Base Rate, less 0.25%

Structure

Scheme trustees

TBC

Scheme administrator

Suffolk Life

Minimum contributions

Regular payments

£100 per month

Transfers/Single Premiums

£5,000

Min additional

£200

Company Information

Ownership

Prudential

Year established

1848

Funds under management

£340 billion of assets under management across all products

Number of SIPPs administered

Not disclosed

Defaqto rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Misc

Flexible Drawdown offered

No

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.