Sanlam OneSIPP

Last updated: 22nd June 2020

Charges Charges are not subject to VAT

Initial/Set up fee

£416

Annual fee

0.25% per year, subject to a minimum charge of £41.50 per month

Transfer in fee

£92 per provider

Transfer out fee

None

In-specie transfer in fee

£92 per provider

Taking benefits

Annual administration of capped drawdown: £220 pa

Reviews of max income for capped drawdown: £179 per review

Establishment of Flexi-Access Drawdown pension: £0

Annual administration of Flexi-Access Drawdown: £0

Annuity purchase fee

None

Payment of death benefits fee

None

Alteration to income fee

None

Other fees

Subsequent single contributions and increase to regular contributions, £60

In-specie single contributions, £163 per asset

Investment administration charges

Listed discretionary fund manager, £256 per year

Paperless transaction charge, free

Other transactions, £42 per transaction

Wrap platform, free

Model Portfolio Service Discretionary Investment Management fee, where Sanlam Financial Services UK has appointed Sanlam International Investments:

Active Models, 0.42% per annum

Management

Access: Direct or via IFA

Both

Online capability

Details

QUICK SIPP illustrations (including drawdown) and transaction histories are available online

Permitted Investments

Commercial property

Unit trusts & OEICS

Via a limited range of platforms allowed

External deposit accounts

unrestricted access to all 'Sippable' deposit accounts - term must not exceed 30 days

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

subject to asset vetting check

Unlisted shares

considered on a case by case basis

Structured products

within limits

Trustee Investment Plans

Insurance company pension funds

Hedge funds

on a case by case basis

Traded endowment plans

on a case by case basis

Third party loans

on a case by case basis

Property purchase

Purchase fee

£696 per property

Completion of property purchase, £255

Sale fee

£696 per property

Annual property administration fee

£692 per annum without a managing agent

£356 per annum with a managing agent

VAT registration fee

£183

VAT return fees

£176 per annum per property

Lease renewal / new lease fee

£183 per lease

Other fees

Loan arrangement fee, £209 per loan

Repayment of loan, £179 per loan

Shared ownership charge, £261 initial transaction plus £158 each subsequent event

Insurance administration, £183 per annum

Multiple member property purchase, £123 per member

Leasehold property charge, £176 per annum

Vacant property charge, £176 per annum

Rent arrears action, £182

Overdrawn account, £30 per letter

VAT payment administration charge, 0.80% of property purchase price

Penalty for rent arrears action £182

SIPP Bank Account

SIPP bank account provider

Barclays Bank

Current interest rate

0.10%

Structure

Scheme trustees

Sanlam Trustee Services UK Limited

Scheme administrator

Sanlam Financial Services UK Limited

Minimum contributions

Regular payments

£100 or £1,000 pa (plus a min single/lump sum)

Transfers/Single Premiums

£1,000 - Pinnacle range

£25,000 - Customised option (self-investment)

Min additional

£1,000

Company Information

Ownership

Sanlam Investment and Pensions is the trading name of Sanlam Life and Pensions Limited, a wholly owned subsidary of Sanlam UK Limited. Sanlam UK Limited is wholly owned by Sanlam Limited, a South African financial services group based in Cape Town and listed on the South African stock exchange (JSE).

Year established

Sanlam Limited was established in 1918

Funds under management

Sanlam Limited manages funds in excess of £50bn worldwide

Number of SIPPs administered

Sanlam Investment & Pensions administers c2,300 SIPPs

Defaqto rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, only if IFA advised

Misc

Flexi-Access Drawdown/UFPLS offered

Flexi Access Drawdown : Yes

UFPLS : 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.