Prudential Retirement Account

Last updated: 22nd June 2020

Charges Charges are not subject to VAT

Initial/Set up fee

nil

Annual fee

Based on value of funds:

Up to £99,999 0.45%
£100,000 - £249,999 0.40%
£250,000 - £499,999 0.35%
£500,000 - £749,999 0.30%
£750,000 - £999,999 0.275%
£1m+ 0.25%

Transfer in fee

None

Transfer out fee

Nil if cash transfer

£100 if in specie transfer

In-specie transfer in fee

N/A

Income Drawdown

None

Benefits calculation fee

None

Annuity purchase fee

None

Payment of death benefits fee

None

Other fees

Stocktrade dealing:
per trade fee 0.5% min £15, max £75
Nominee charge £20 per quarter

Paperless dealing charges, none

Ad hoc valuation, £100 minimum

Management

Access: Direct or via IFA

Via IFA only

Online capability

Details

TBC

Permitted Investments

Commercial property

Overseas property

Unit trusts & OEICS

Extensive fund range and via Stocktrade

External deposit accounts

Overseas listed stock and shares

via Stocktrade

UK listed stocks and shares

via Stocktrade

AIM shares

via Stocktrade

Gilts/corporate bonds

via Stocktrade

ETFs

via Stocktrade

Investment trusts

Discretionary management

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 - £250,000, 0.15%

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

Structure

Scheme trustees

TBC

Scheme administrator

Prudential

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 worldwide

Number of SIPPs administered

Not disclosed

Defaqto rating

Two 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.