Last updated23rd May 2017

Reviews

Read reviews for the Prudential Full SIPP

Charges

Charges are not subject to VAT
Initial/Set up fee
£300
Annual fee£425 per year
Transfer in feeNone
Transfer out feeNone if cash transfer

£100 if in specie transfer
In-specie transfer in feeIn specie transfer in (excluding property) £100 basic fee plus between £0 and £25 per investment. Maximum in specie transfer in fees £300

Property in specie transfer fee £1,700 - £1,900 per property
Income DrawdownInitial: None

Ongoing: £100 per year
Additional Income Drawdown feesNone
Annuity purchase feeNone
Payment of death benefits feeNone
Other feesPaper dealing charges £25 - £75 per transaction
Paperless dealing charges, £0

Ad hoc valuation, time costed £100 minimum

Borrowing facility (other than property) £100 per year

Overdraft facility, £35 creation, £100 renewal

Deals placed via Cofunds £0

Other investment transactions time costed

Appointment of an investment manager £0

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsNot confirmed

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSVia a variety of platforms
External deposit accountsWith exclusions and restrictions
Overseas listed stock and sharesA variety of stockbrokers available
UK listed stocks and sharesA variety of stockbrokers available
AIM sharesA variety of stockbrokers available
Gilts/corporate bondsA variety of stockbrokers available
ETFsA variety of stockbrokers available
Investment trustsA variety of stockbrokers available
Discretionary management
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company funds
Hedge fundsSubject to restrictions
Traded endowment plans
Intellectual property
Brands / Trademarks
Goodwill
Third party loans

Property purchase

Purchase feeTime costed, estimate of £1,700 - £1,900 per property
Sale feeTime costed, estimate of £600 - £800 per property
Annual property administration feeAnnual property accounting fee, time costed estimate of £600 per year

Annual property management fee, time costed estimate of £700 per year

Property facility fee £100 per property per year
VAT registration feeIncluded in fee below
VAT return fees£150 per property per year
Other feesVariation of proportion of property ownership, time costed estimate of £500 to £700

Borrowing facility fee £100 per year

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rate£0 - £250,000, 0.15%

£250,000 plus, Bank Base Rate, less 0.25%

Structure

Scheme trusteesTBC
Scheme administratorSuffolk Life

Minimum contributions

Regular payments£100 per month
Transfers/Single Premiums£5,000
Min additional£200

Company Information

OwnershipPrudential
Year established1848
Funds under management£340 billion of assets under management across all products
Number of SIPPs administeredNot disclosed
Defaqto ratingFive Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised

Misc

Flexible Drawdown offeredNo
Scheme Pension offeredNo
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Prudential Full SIPP

Prudential was founded in 1848 and currently has total funds under management in the region of £340 billion.

The Prudential offer two SIPPs, the Full SIPP and the Fund SIPP.

The Prudential Full SIPP (Self Invested Personal Pension) allows investment into a wide range of assets, including commercial property, discretionary fund managers and external deposit accounts.

The Prudential Full SIPP is only available through Independent Financial Advisers (IFAs) and has a minimum regular contribution of £100 per month or £5,000 as a lump sum or transfer in.

The mandated SIPP bank account is held with the Bank of Scotland, which pays a tiered rate of interest.