Westerby Trustee Services SOLO SIPP
Last updated: 19th January 2021
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
£150
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, £30 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
0.10%
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 management
£576million
Number of SIPPs administered
Over 1,900
Defaqto rating
5 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.