Last updated3rd October 2016

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Charges

Charges (except dealing and annual custody charges) are subject to VAT although shown excluding VAT.
Initial/Set up fee£120 (waived if £25,000 or more of SIPP assets are invested using Funds & Shares Service)
Annual feeQuarterly administration (waived if £200,000 or more of SIPP assets are invested using Funds & Shares Service):

£120 per annum for pensions worth less than £25,000

£160 per annum for pensions worth between £25,000 and £50,000

£200 per annum for pensions worth over £50,000

Annual custody charge (based on the value of, and payable only when, assets held in the Funds & Shares Service):

Assets up to £1 million 0.20% per year

Assets between £1 million and £1.5 million 0.15% per year

Assets between £1.5 million and £2 million 0.10% per year

Assets above £2 million 0.00% per year

Managed Portfolio Service (MPS) 0.25%
Transfer in fee£60 per transfer
Transfer out fee£75

Transfer to a QROPS £425

In specie transfer out of an investment account held in nominee name, or assignment of an insurance policy, £225

Transfer out in specie from the Funds & Shares Service, £25 per holding (VAT exempt)

Property transfer out charged as per a property sale
In-specie transfer in feeOn-panel, £60

Off-panel, £225
Taking BenefitsFlexi-access drawdown at all ages and capped drawdown pre 75, £150 pa even if no income taken

Capped drawdown from age 75, £250 pa

Regular UFPLS payments, £150pa

one off UFPLS, £75 per payment

one off income payment from existing drawdown funds, £25

Designate additional funds to drawdown, £75

Convert from capped drawdown to flexi-access drawdown, £75

SIPP closure £250 payable when all funds withdrawn via UFPLs or flexi-access drawdown within 12 months of opening, £75 otherwise
Annuity purchase fee£75
Payment of death benefits feeTime costed
Other feesFunds & Share service charges:

Annual custody charge:

Assets up to £1,000,000, 0.20% per annum

Assets between £1,000,000 - £1,500,000, 0.15% per annum

Assets between £1,500,000 - £2,000,000, 0.10% per annum

Assets above £2,000,000, 0.00% per annum

Not charged on SIPP assets held with investment partners, off-panel investments and directly held property

Dealing / switching:

Using regular investment service, £0

Using bulk dealing / model service, £1,00

Online, £3.95

Telephone, £29.95

Paper form, £50

A paper form is usually required for Structured Products, where this is the case and Sippcentre has to pre-fund / lodge a paper application the charge increases to £70

Investment related fees:

Multiple investment partners, £40 per annum per partner

Off-panel investment transaction, £50

Off-panel annual administration, £200 per annum

Managed Portfolio Service (MPS), 0.25%

Other fees:

Splitting / sharing assets on divorce, time costed

Insufficient funds to pay benefits or SIPP charges, £25 per event

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsA wide range of functionality is available, including:

Bulk dealing and model portfolio tools

X-ray analysis on both active and prospective portfolios

Online applications - no wet signature required resulting in straight-through processing

Ability to co-brand client-facing sections of the website and literature

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSAll platforms allowed
External 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 managementOver 30 panel investment partners or open market via off-panel option
National Savings & Investments
Unlisted sharesInvestment 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
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Intellectual property
Brands / Trademarks
Goodwill
Third party loans

Property purchase

Purchase fee£750 per property
Sale fee£400 per property

Additional £100 if property which is sold is held jointly (payable per member)
Annual property administration fee£480 per property

VAT registration fee£120
VAT return fees
£180 per property
Other fees
Off panel quarterly fee, £50

Loan to purchase a property, £350

£120 loan administration fee (per loan)

To repay a loan, £100

To use multiple SIPPs to buy a property together, £250 per member (in addition to the standard property purchase fee)

Development and refurbishment, 0.5% of total costs

New lease or lease renewal, £250

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rate0.00%

Structure

Scheme trusteesSippdeal Trustees Limited
Scheme administratorAJ Bell Management Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipAJ Bell is privately owned by its management team and three institutional investors, namely Woodford Investment Management, Invesco Perpetual and Seneca Investment Managers. Further information is available from click here
Year established1995
Funds under management£28 billion
Number of SIPPs administered131,174
Defaqto ratingFive Stars

Transfers

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

Misc

Flexible Drawdown offeredYes
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Investcentre

Investcentre is part of AJ Bell.

AJ Bell was established in 1995, has funds under management of in excess of £28 billion and administers over 131,174 SIPPs. AJ Bell is privately owned by its management team and three institutional investors, namely Woodford Investment Management, Invesco Perpetual and Seneca Investment Managers.

AJ Bell has won an array of prestigious industry awards, recognising its reputation as a provider of leading platforms, products and services. Investcentre is only available via financial advisers and has no minimum contribution level for lump sum, regular or transfer payments.

The mandated SIPP bank account is held with Bank of Scotland and whilst this account currently pays no interest, investors can access any other SIPP deposit account via the off-panel option.