Westerby Trustee Services Full SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

£310

Annual fee

£595 - Standard Full SIPP
£660 - Non Standard Full SIPP

Transfer in fee

Origo - Nil
Paper - £50 per transfer
DB transfer - £100 per transfer

Transfer out fee

Cash £150, Other assets £250 per asset

In-specie transfer in fee

£150 per asset
From £250 for property

Income Drawdown

Initial: £150

Ongoing: £150 per annum

Additional Income Drawdown fees

Mandatory reviews, £150

Annuity purchase fee

£225

Payment of death benefits fee

Time costed, subject to a minimum of £200

Other fees

In specie contribution of property, £900

In specie contribution of other assets, £300 (Standard assets)
£400 - £700 (Non standard assets)

Purchase of unlisted shares, £400 - £600

Sale of unlisted shares, £200

Third party loans, £400-£600

Annual loan administration fee, £175

Ad hoc valuations, £75

In specie transfer out, Cash £150, Other assets £250 per asset

Pension sharing on divorce, time costed subject to a minimum of £200

Additional deeds, £250

Reminder letters on matters outstanding over 90 days, £25 per letter

Management

Access: Direct or via IFA

Both

Online capability

Details

Application Form, Key Features Documents available to download from website. Online access only available to IFAs

Permitted Investments

Commercial property

Unit trusts & OEICS

All platforms allowed

External deposit accounts

Unrestricted access to all 'sippable' deposit accounts

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

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Subject to a maximum of 50% of the fund on both a secured or unsecured basis

Property purchase

Purchase fee

£780

Sale fee

£500

Annual property administration fee

£295 per property

VAT registration fee

£250

VAT return fees

£250 per annum

Other fees

Borrowing fee, £300

Building plots and development land, £100 per year

Additional tenant, £100 per year

SIPP Bank Account

SIPP bank account provider

Metro Bank

Current interest rate

0.10%

Structure

Scheme trustees

Westerby Trustee Services Limited

Scheme administrator

Westerby Trustee Services Limited

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information

Ownership

Privately owned

Year established

1996

Funds under administration

£576 million

Number of SIPPs administered

Over 1,900

Defaqto rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

No

Misc

Flexi-Access Drawdown/UFPLS offered?

Yes

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.