The Talbot & Muir SIPP

Initial/Set up fee

Simple Retirement Account (SRA) - Nil

Elite Retirement Account (ERA), £295

Annual fee

SRA - £250

ERA, Single asset SIPP, £555

ERA, Multi asset SIPP, £630

Transfer in fee

None, where an adviser completes the transfer requirements

Other transfers in cash £20 per transfer (max £200)

Transfer out fee

Cash transfer out, £150

In-specie transfer out, £50 per asset transferred, (max £500)

In-specie transfer in fee

£50 per asset transferred (max £500)

Taking Benefits

Flexi Access Drawdown:

Establishing first tranche £125

Annual drawdown charge £150

Additional tranche of Flexi-Access Drawdown £75

Capped Drawdown:

Annual Drawdown Fee £150

Additional tranche £75

Uncrystallised Funds Pension Lump Sum £150

Exhausting the Fund

Fee for exhausting the fund under Flexi-Access Drawdown or UFPLS, £125

Annuity purchase fee

£150

Payment of death benefits fee

£150

Other fees

Contributions:

Single contributions after establishment and variations to regular contributions, £20

Refund of contributions (where allowed), £20

Investment related fees:

Investments with UK authorised Unit Trust / OEIC or insurance fund investments, £20 per investment, capped at £200 per annum

Establish an alternative deposit account, £20

Other fees:

Ad hoc valuations, £100

Work required to ensure compliance with changes in pension legislation and regulation, time costed

Annual meetings (where required), £200 plus travel costs

Access: Direct or via IFA

Advised only business. However, Talbot and Muir are happy to liaise with clients regarding ongoing administration.

Details

The Talbot & Muir system enables an adviser and a client to log in and view price feed valuations of current holdings held within the pension scheme.

Due to dual trusteeship of the investments within the SIPP, clients cannot makes any investment changes online because Talbot & Muir would have to counter-sign any changes

Commercial property

Unit trusts & OEICS

All platforms allowed subject to due diligence

External deposit accounts

Unrestricted access to all 'sippable' deposit accounts, subject to due diligence

Overseas listed stock and shares

All stockbrokers and platforms allowed, subject to due diligence

UK listed stocks and shares

All stockbrokers and platforms allowed, subject to due diligence

AIM shares

All stockbrokers and platforms allowed, subject to due diligence

Gilts/corporate bonds

All stockbrokers and platforms allowed, subject to due diligence

ETFs

All stockbrokers and platforms allowed, subject to due diligence

Investment trusts

All stockbrokers and platforms allowed, subject to due diligence

Discretionary management

Unrestricted access, subject to due diligence

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Hedge funds in standard investments are acceptable.

Traded endowment plans

Third party loans

Purchase fee

£800 per property

Sale fee

£350 per property

Annual property administration fee

£380 (per SIPP, not per property)

VAT registration fee

£100

VAT return fees

£50 per quarter

Other fees

Pension fund borrowing fee £400 per property

Environmental screening report, from £198

SIPP bank account provider

Barclays Bank

Current interest rate

3.24%

Scheme trustees

TM Trustees

Scheme administrator

Talbot & Muir SIPP LLP

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Ownership

Nucleus Financial Platforms (Nucleus) / Curtis Banks

Year established

1993

Funds under management

£80 billon

Number of SIPPs administered

over 7,000

Defaqto rating

5 star rating

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Flexi-Access Drawdown/UFPLS offered?

Yes

Scheme Pension offered

No

Notes

In order to qualify as a Single-Asset SIPP (level 1 fees of £245 pa), in addition to the main SIPP bank account held with Metro Bank, the SIPP may only contain one other non direct property holding. For example, this may take the form of either a single Discretionary Fund Manager portfolio, a single Platform, a single stand alone Unit Trust/OEIC/Trustee Investment Plan, or a single direct equity holding.

As soon as the SIPP owns more than one of these assets, it is then treated as a Multi-Asset SIPP (level 2 fees of £435 per annum.)

For investments in Multi-Assets including a commercial property, this is deemed level 3 with fees of £980 per annum.

Please refer to schedule of fees for full details.

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.