Redswan SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

Nil

Annual fee

£395 in advance

Transfer in fee

Nil - first two transfers, £95 thereafter

Transfer out fee

in cash £295

to overseas pension scheme, time costed

in-specie transfer out, £295

In-specie transfer in fee

In -specie from inv mgr or fund supermarket where assets held in nominee account, £95

in specie property, £550

in specie borrowing £300

in specie trustee investment plan £295

where investments held directly with fund provider/registrar £95, plus £50 per asset

where deeds of assignment are needed £295

Taking Benefits

taking PCLS, £150 per event

UFPLS, £150 per event

establishment of PAYE, £95

annually billed fee for operation of PAYE
monthly pension, £145
quarterly pension, £115
biannual pension, £85
annual pension, £55

Capped drawdown review, £125

non-standard benefits calculations, time costed

Annuity purchase fee

£175

Payment of death benefits fee

time costed

Other fees

SIPP closure fees:

in first year of opening, £295
in second year, £145
thereafter, nil
migrating to Cygnet plan, nil

Investment related fees:

regulated collectives (OEICs, unit & investment trusts) quoted/regulated portfolios, nil

trustee investment plans, National Savings, regulated structured products, deposit accounts, nil

Upto 5 directly held gilts or quoted equities, nil, £95 for each holding thereafter

2nd hand endowments, derivatives, £295

Investment grade gold bullion, £500 in advance, time costed on completion

secured 3rd party loans, £495 initial appraisal fee, annual fee £145
rollovers/further advances £245

unquoted equities (existing holdings only) annual fee £245
initial appraisal fee time costed
sale, time costed

Intellectual Property, time costed initial appraisal fee, £175 annual fee, sale, time costed

Management

Access: Direct or via IFA

Both

Online capability

Details

Account balances with Bath Building Society can be seen online

Permitted Investments

Commercial property

Unit trusts & OEICS

External deposit accounts

Overseas listed stock and shares

UK listed stocks and shares

AIM shares

Gilts/corporate bonds

ETFs

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

£550 for sole purchaser, £150 for each additional Redswan SIPP purchaser

for joint purchases with a non-Redswan SIPP, time costed

for more than a single tenant ( per tenant, per annum) £100

Sale fee

£400 with sole vendor, £75 for each additional vendor

for joint sale with non-Redswan SIPP, time costed

Annual property administration fee

£250 per property, per annum with a sole owner, £100 in addition for each extra owner

VAT registration fee

£100

VAT return fees

£200 pa

Other fees

tenant entering liquidation or receivership, £400

overseas property initial appraisal, £1,000, time costed on completion

site visits, UK time costed, overseas, negotiable

property build/development etc, time costed

lender foreclosing on mortgage, time costed

SIPP Bank Account

SIPP bank account provider

Bath Building Society

Current interest rate

0.5%

Structure

Scheme trustees

Redswan Pensioneers Limited & Redswan Trustees Limited

Scheme administrator

Redswan Limited

Minimum contributions

Regular payments

None

Transfers/Single Premiums

None

Min additional

None

Company Information

Ownership

Privately Owned

Year established

2004

Funds under management

not disclosed

Number of SIPPs administered

not disclosed

Defaqto rating

not available

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes

Misc

Flexi-Access Drawdown offered

Yes

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.