Westerby Trustee Services SOLO SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

0.1% of assets transferred or contributions subject to a minimum of £205

Annual fee

£295

Transfer in fee

Origo - Nil
Paper - £50 per transfer

Transfers in during 2nd and subsequent policy years - £75

Transfer out fee

Cash £150

Other assets £250 per asset

In-specie transfer in fee

Not allowed

Taking Benefits

Benefit Crystallisation Event, £150 per tranche
Regular payment of income, £150 pa
Ad-hoc payment, £150

UFPLS £300

Capped Drawdown reviews £150
Conversion from Capped to Flexi-Access Drawdown, £150

Ongoing: £150 per annum

Annuity purchase fee

£225

Payment of death benefits fee

Time costed, subject to a minimum of £200

Other fees

Ad hoc valuations, £75

In specie transfer out, £250 Assets and £150 Cash

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

Property purchase

Purchase fee

N/A

Sale fee

N/A

Annual property administration fee

N/A

VAT registration fee

N/A

VAT return fees

N/A

Other fees

N/A

SIPP Bank Account

SIPP bank account provider

Metro Bank

Current interest rate

0.40%

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 management

£576million

Number of SIPPs administered

Over 1,900

Defaqto rating

4 Star

Transfers

Accepts benefits from defined benefit / final salary schemes?

No

Misc

Flexible Drawdown offered

Yes

Scheme Pension offered

No

Notes

Payment of whole fund under Flexible Drawdown in year one, £275

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.