Last updated15th April 2014

Reviews

Read reviews for theSIPP Specialists Insight SIPP

Charges

Initial/Set up fee£200
Annual fee£500
Transfer in feeNone if not in Income Drawdown

£150 if in Income Drawdown
Transfer out feeTransfer of a SIPP wholly in cash to another SIPP provider, £300

Transfer of a SIPP including in-specie transfer of investments other than property, £500

Transfer of a SIPP including in-specie transfer of property, £1,000

Transfer of a SIPP including in-specie transfer of property and other investments, £1,150
In-specie transfer in fee£150, for assets other than commercial property
Income DrawdownInitial: £150

Ongoing: £35 per annum plus £5 per payment
Additional Income Drawdown feesMandatory reviews, £150

Flexible Drawdown, £250
Annuity purchase fee£300
Payment of death benefits feeTime costed, £500 if straightforward
Other feesUnregulated investment fee

£200 on purchase

£200 per annum

Bank charges

Next day faster payment, free

Same day faster payment, per £100,000 payment, £3

CHAPS, £20

Management

Access: Direct or via IFABoth

Online capability

Details

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSAll platforms allowed
External deposit accountsUnrestricted access to 'sippable' deposit accounts
Overseas listed stock and sharesAll stockbrokers allowed
UK listed stocks and sharesAll stockbrokers allowed
AIM sharesAll stockbrokers allowed
Gilts/corporate bondsAll stockbrokers allowed
ETFsAll stockbrokers allowed
Investment trustsAll stockbrokers allowed
Discretionary managementUnrestricted access
National Savings & InvestmentsAll stockbrokers allowed
Unlisted sharesAll stockbrokers allowed
Structured productsAll stockbrokers allowed
Trustee Investment PlansAll stockbrokers allowed
Insurance company fundsAll stockbrokers allowed
Hedge funds
Traded endowment plans
Intellectual property
Brands / Trademarks
Goodwill
Third party loans

Property purchase

Purchase fee£750
Sale fee£500
Annual property administration fee£750
VAT registration fee£100
VAT return fees£100 per annum
Other feesRefurbishment and dilapidation, £600

New Development / Design and Build, 0.5% of contract, minimum £1,000

Mortgage arrangement via a bank, £500

Mortgage redemption / lump sum repayments, £100 per event

In-specie transfer of UK commercial property, £350

New lease, £250

Annual administration of a syndicate, £75 per member

Annual multiple tenancy fee, £50 per extra tenant

Late payment of rent, £20 per reminder letter or email

Protracted negotiation regarding rent arrears, time costed, minimum £200

Renegotiating rental payments, £400

Renegotiating a mortgage, £200

Tenant entering receivership or liquidation, £1,000

Lender foreclosing on mortgage, £600 minimum

Meeting with member or any other interested party, £250 plus disbursements

Site visit to a property, £250 plus disbursements

SIPP Bank Account

SIPP bank account providerCambridge & Counties Bank
Current interest rate0.1% up to £10,000

0.25% above £10,000

Structure

Scheme trusteesMW SIPP Trustees Ltd
Scheme administratorMW Pensions Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipWholly owned subsidiary of MW Pensions Ltd
Year established2003
Funds under management£193 million
Number of SIPPs administered1,700
Defaqto ratingNot available

Transfers

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

Misc

Flexible Drawdown offeredYes
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

SIPP Specialists Insight SIPP

The SIPP Specialists Insight SIPP (Self-Invested Personal Pension) was started in 2003 and currently has over £193 million under management in the UK spread across 1,700 SIPPs.

The Insight SIPP is available both via IFAs (Independent Financial Advisers) and direct and allows investors to access a wide range of investments, including commercial property, deposit accounts, directly held securities, discretionary fund managed and Unit Trusts, OEICs and Structured Products.

There is no minimum regular, lump sum or transfer payment needed to start the Insight SIPP.

The mandated SIPP bank account is  held with Cambridge & Counties Bank, paying an interest rate below Bank Base Rate but the SIPP does allow investment into other SIPP deposit accounts.