Home| Last updated | 26th August 2011 |
|---|---|
Charges | Charges are not subject to VAT |
| Initial/Set up fee | £150 |
| Annual fee | £200 per year |
| Transfer in fee | None |
| Transfer out fee | Nil if cash transfer £100 if in specie transfer |
| In-specie transfer in fee | N/A |
| Income Drawdown | Initial: None Ongoing: £100 per year |
| Benefits calculation fee | None |
| Annuity purchase fee | None |
| Payment of death benefits fee | None |
| Other fees | Paper dealing charges, £25 - £75 per transaction Paperless dealing charges, none Ad hoc valuation, £100 minimum |
Management | |
| Access: Direct or via IFA | Via IFA only |
Online capability | |
| Details | TBC |
Permitted Investments | |
| Commercial property | No |
| Unit trusts & OEICS | Yes, via a variety of platforms |
| External deposit accounts | Yes, with exclusions and restrictions |
| Overseas listed stock and shares | No |
| UK listed stocks and shares | No |
| AIM shares | No |
| Gilts/corporate bonds | No |
| ETFs | No |
| Investment trusts | No |
| Discretionary management | No |
| National Savings & Investments | No |
| Unlisted shares | No |
| Structured products | No |
| Trustee Investment Plans | No |
| Insurance company funds | No |
| Hedge funds | No |
| Traded endowment plans | No |
Property purchase | Not permitted |
| 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 | Bank of Scotland |
| Current interest rate | 0.05% |
Structure | |
| Scheme trustees | TBC |
| Scheme administrator | Suffolk Life |
Minimum contributions | |
| Regular payments | £100 per month |
| Transfers/Single Premiums | £5,000 |
| Min additional | £200 |
Company Information | |
| Ownership | Prudential |
| Year established | 1848 |
| Funds under management | £340 billion of assets under management worldwide |
| Number of SIPPs administered | Not disclosed |
Transfers | |
| Accepts benefits from defined benefit / final salary schemes? | Yes, if IFA advised |
Misc | |
| Flexible Drawdown offered | No |
| Notes |
