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.