Home| Last updated | 3rd April 2012 |
|---|---|
 | Telephone: 0845 83 99 060 Address: Trafford House, Chester Road, Manchester, M32 0RS Go to the Sippcentre website |
| Literature | Download literature from the Sippcentre website |
| Other ways to stay in touch with Sippcentre |  |
Charges | Charges are subject to VAT although shown excluding VAT |
| Initial/Set up fee | £120 |
| Annual fee | £100 per year for pensions worth less than £25,000 £140 per year for pensions worth between £25,000 and £50,000 £180 per year for pensions worth over £50,000 |
| Transfer in fee | £60 per transfer (maximum 5 transfers charged for) |
| Transfer out fee | £75 |
| In-specie transfer in fee | Standard transfer in fee plus: transfer of an investment account, within the terms of a discretionary or non discretionary investment agreement, where all assets are held in nominee name - £225 per account Assignments of insurance policies, £225 per deed of assignment Property transfers are charged for as a property purchase |
| Income Drawdown | Initial: Before age 75, £150 After age 75, £250 Ongoing: £150 before age 75 £250 after age 75 |
| Additional Income Drawdown fees | Flexible Drawdown initial fee, £75 Flexible Drawdown closure fee, £75 Alteration of income, £75 One off benefit payment, £25 |
| Annuity purchase fee | £75 |
| Payment of death benefits fee | Time costed |
| Other fees | Use of more than one investment partner, £5 per quarter for each additional investment partner For 'off panel' investments £30 per transaction plus £30 per quarter (this covers up to 5 'off panel' investments) Sippcentre reserves the right to make an additional charge for more than 5 'off panel' investments |
Management | |
| Access: Direct or via IFA | Via IFA only |
Online capability | |
| Details | Full online access |
Permitted Investments | |
| Commercial property | Yes |
| Unit trusts & OEICS | Yes, electronically linked to Skandia, Cofunds and via in house fund and share dealing platform, but can use any other platform via off-panel route |
| External deposit accounts | Yes, unrestricted access, off panel fee applies |
| Overseas listed stock and shares | Yes, via in-house fund and share dealing platform |
| UK listed stocks and shares | Yes |
| AIM shares | Yes |
| Gilts/corporate bonds | Yes |
| ETFs | Yes |
| Investment trusts | Yes |
| Discretionary management | Yes, unrestricted choice with over 20 Discretionary Managers electronically linked into the SIPP platform at no extra cost to use |
| National Savings & Investments | Yes |
| Unlisted shares | Investment in unquoted trading company shares is not permitted. Investment in investment vehicles that have been established using an unquoted share structure may be permitted subject to review. |
| Structured products | Yes |
| Trustee Investment Plans | Yes |
| Insurance company funds | Yes |
| Hedge funds | Yes |
| Traded endowment plans | Yes |
Property purchase | |
| Purchase fee | £550 per property, plus £350 if money is borrowed to purchase the property |
| Sale fee | £300 per property plus £100 if borrowing is repaid Additional £100 if property which is sold is held jointly |
| Annual property administration fee | £300 per property £120 loan administration fee (per loan) |
| VAT registration fee | £100 |
| VAT return fees | £120 per property |
| Other fees | Off panel quarterly fee, £30 Loan repayment, £100 Multiple SIPPs buying a property together, £250 Development and refurbishment, 0.5% of total costs New lease or lease renewal, £250 |
SIPP Bank Account | |
| SIPP bank account provider | Bank of Scotland |
| Current interest rate | 0.00% |
Structure | |
| Scheme trustees | Sippdeal Trustees Limited |
| Scheme administrator | A J Bell Management Ltd |
Minimum contributions | |
| Regular payments | None |
| Transfers/Single Premiums | £1,000 gross |
| Min additional | None |
Company Information | |
| Ownership | Invesco Perpetual and MAM Funds own 36% and 10% respectively of the share capital, the remainder being owned by Andy Bell and the management team |
| Year established | 1995 |
| Funds under management | £15 billion |
| Number of SIPPs administered | 59,000 |
Transfers | |
| Accepts benefits from defined benefit / final salary schemes? | Yes, if IFA advised |
Misc | |
| Flexible Drawdown offered | Yes |
| Notes | *Across A J Bell Group |
