Home| Last updated | 26th August 2011 |
|---|---|
Charges | Charges are not subject to VAT |
| Initial/Set up fee | £350 |
| Annual fee | 0.25% per year £37.50 minimum charge per month where member self invests £15 per month minimum when member uses insured range of funds |
| Transfer in fee | £75 per provider whether cash or in specie |
| Transfer out fee | £0 |
| In-specie transfer in fee | As above |
| Income Drawdown | Initial: £204 Ongoing: £184 per year |
| Additional Income Drawdown fees | £153 per review |
| Benefits calculation fee | None |
| Annuity purchase fee | None |
| Payment of death benefits fee | None |
| Alteration to income fee | None |
| Other fees | Panel discretionary fund manager, £306 per year Paperless transaction charge, none Other transactions, £36 per transaction |
Management | |
| Access: Direct or via IFA | Both |
Online capability | |
| Details | IFA only can access valuations online |
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, panel available, others will be considered |
| National Savings & Investments | Yes |
| Unlisted shares | Yes, considered on a case by case basis |
| Structured products | Yes |
| Trustee Investment Plans | Yes |
| Insurance company pension funds | Yes |
| Hedge funds | Yes |
| Traded endowment plans | Yes |
Property purchase | |
| Purchase fee | £612 per property |
| Sale fee | £612 per property |
| Annual property administration fee | £77 - £153 per quarter, per property |
| VAT registration fee | £100 Plus administration at 0.70% of property purchase price |
| VAT return fees | £104 per year per property |
| Lease renewal / new lease fee | £153 per lease |
| Other fees | Loan arrangement fee £153 per loan |
SIPP Bank Account | |
| SIPP bank account provider | Various |
| Current interest rate | 0.1% on all accounts |
Structure | |
| Scheme trustees | Insured scheme |
| Scheme administrator | Merchant Investor |
Minimum contributions | |
| Regular payments | £100 |
| Transfers/Single Premiums | £1,000 |
| Min additional | £1,000 transfer / single No minimum for a regular payment |
Company Information | |
| Ownership | Owned by Sanlam |
| Year established | 1970 |
| Funds under management | £1.5bn |
| Number of SIPPs administered | Not disclosed |
Transfers | |
| Accepts benefits from defined benefit / final salary schemes? | Yes |
Misc | |
| Flexible Drawdown offered | No |
| Notes |
