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Last updated 23rd August 2011
Charges
Charges are subject to VAT although shown excluding VAT
Initial/Set up fee £350
Annual fee £500
Transfer in fee £50 for the third transfer in onwards
Transfer out fee £500
In-specie transfer in fee None as they are considered as transfers
Income Drawdown Initial: £200
Ongoing: Monthly income £150 per year, Quarterly income £125 per year, Annual income £100 per year
Additional Income Drawdown fees
None
Annuity purchase fee £150
Payment of death benefits fee £500
Other fees
Management
Access: Direct or via IFA Both
Online capability
Details Scheme information, bank accounts, holdings with latest values.
Access available to both member and IFA
Permitted Investments
Commercial property Yes
Unit trusts & OEICS Yes, all platforms allowed
External deposit accounts Yes, unrestricted access to all 'sippable' deposit accounts
Overseas listed stock and shares Yes, all stockbrokers allowed
UK listed stocks and shares Yes, all stockbrokers allowed
AIM shares Yes, all stockbrokers allowed
Gilts/corporate bonds Yes, all stockbrokers allowed
ETFs Yes, all stockbrokers allowed
Investment trusts Yes, all stockbrokers allowed
Discretionary management Yes, unrestricted access
National Savings & Investments Yes
Unlisted shares Yes
Structured products Yes
Trustee Investment Plans Yes
Insurance company funds Yes
Hedge funds Yes
Traded endowment plans Yes
Property purchase
Purchase fee £1,000, per property
Same fee is charged if in-specie transfer of property,
Sale fee £475 per property
Annual property administration fee £350
VAT registration fee £250
VAT return fees £200
Other fees Property development, 0.5% of final development cost
Overseas property, by individual quote
Environmental search, £320
Co-Ownership agreements, £100 per member
Additional tenancy, £150 for each additional tenant
Energy performance certificate, by quote
Asbestos report (if required), by quote
SIPP Bank Account
SIPP bank account provider Royal Bank of Scotland
Current interest rate 0.80%
Structure
Scheme trustees Carey Pension Trustees UK Ltd
Scheme administrator Carey Pensions UK LLP
Minimum contributions
Regular payments No minimum
Transfers/Single Premiums No minimum
Min additional No minimum
Company Information
Ownership 70% Carey Group, 30% CEO
Year established 2009
Funds under management Circa £90m
Number of SIPPs administered Circa 900
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised
Misc
Flexible Drawdown offered Yes
Notes
