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Last updated 29th August 2011
Telephone: 0870 414 7000
Address: Suffolk Life, 153 Princess Street, Ipswich, Suffolk, IP1 1QJ
Go to the Suffolk Life website
Other ways to stay in touch with Suffolk Life 
Literature Click here to be taken to the literature library on the Suffolk Life website
Charges
Charges are subject to VAT although shown excluding VAT
Initial/Set up fee None if set up online
£100 if set up using a paper application
Annual fee £250
An additional £100 per year is payable for plans where one or more investments are held direct with the fund provider
Transfer in fee £0 when in cash and when an IFA arranges the transfer
Other transfers in £75, maximum of £300
Transfer out fee £75 if in cash and not to another Suffolk Life product
£150 for in specie transfer out
In-specie transfer in fee £150 basic fee with a maximum fee of £300
Income Drawdown Initial: £155
Ongoing: £155 if income is taken, no fee if income is not taken
Additional Income Drawdown fees Lifetime Allowance test at age 75, £155
Switching from Capped Drawdown to Flexible Drawdown, £155
Review of Capped Drawdown income limits, £155
Payment of whole fund as a pension income through Flexible Drawdown, £300
Annuity purchase fee £75
Payment of death benefits fee £300
Other fees Contributions:
Direct debit or cheque with original application, £0
All others, including anu amendment to regular direct debits, £25
Refund of contributions (where allowed), £25
Investments held direct with a fund provider,
Corporate actions, when processed through Suffolk Life, £25
Payments made by CHAPS, £30 (no cost for other payment methods)
Change of investment firm, £150
Management
Access: Direct or via IFA Via IFA (Once SIPP is established investors can make their own instructions direct to Suffolk Life)
Online capability
Details Access to online portal giving an overview of fund value, and where funds are held
Permitted Investments
Commercial property No
Unit trusts & OEICS Yes, via limited range of platforms & stockbrokers (Assentric, Fidelity, Raymond James and 7IM)
External deposit accounts No
Overseas listed stock and shares Yes, via limited range of platforms & stockbrokers (Assentric, Stocktrade, Fidelity, Raymond James and 7IM)
UK listed stocks and shares Yes, via limited range of platforms & stockbrokers (Assentric, Stocktrade, Fidelity, Raymond James and 7IM)
AIM shares Yes, via limited range of platforms & stockbrokers (Assentric, Stocktrade, Fidelity, Raymond James and 7IM)
Gilts/corporate bonds Yes, via limited range of platforms & stockbrokers (Assentric, Stocktrade, Fidelity, Raymond James and 7IM)
ETFs Yes, via limited range of platforms & stockbrokers (Assentric, Stocktrade, Fidelity, Raymond James and 7IM)
Investment trusts Yes, via limited range of platforms & stockbrokers (Assentric, Stocktrade, Fidelity, Raymond James and 7IM)
Discretionary management No
National Savings & Investments Yes
Unlisted shares No
Structured products Yes
Trustee Investment Plans Yes
Insurance company funds Yes
Hedge funds Yes
Traded endowment plans No
Property purchase
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 to £49,999.99 1% below the bank's base rate*
£50,000 to £249,999.99 0.5% below the bank's base rate*
£250,000 and over 0.25% below the bank's base rate*
*Subject to a minimum of 0.15% provided Bank of Scotland's base rate does not fall below 0.5%.
If Bank of Scotland's base rate does fall below 0.5%, but remains above zero, the SIPP bank account will receive the higher of the above rates; or zero
Structure
Scheme trustees Suffolk Life Trustees Limited
Scheme administrator Suffolk Life
Minimum contributions
Regular payments No minimum
Transfers/Single Premiums No minimum
Min additional No minimum
Company Information
Ownership Owned by Legal & General
Year established 1971
Funds under management In excess of £3.8bn
Number of SIPPs administered In excess of 16,000
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes
Misc
Flexible Drawdown offered Yes
Notes
