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.