Home| Last updated | 1st September 2011 |
|---|---|
Charges | Charges are subject to VAT although shown excluding VAT |
| Initial/Set up fee | None |
| Annual fee | £480 |
| Transfer in fee | £100, if made in cash |
| Transfer out fee | TBC |
| In-specie transfer in fee | £100 plus £25 per investment £400, in specie property transfer |
| Income Drawdown | Initial: £100 for calculation of benefits (per tranche and recalculation) £60 pension income set up Ongoing: £60, annual pension payment |
| Additional Income Drawdown fees | None |
| Annuity purchase fee | £150 |
| Payment of death benefits fee | £150 |
| Other fees | In specie contribution, £800 Divorce / Pension Sharing Order / Bankruptcy, £500 Standard investment transaction, £25 Non standard investment, £250 Unlisted share assessment, £600 Unlisted share purchase or sale, £600 Unlisted share purchase annual administration, £300 per year |
Management | |
| Access: Direct or via IFA | Both |
Online capability | |
| Details | None, other than that provided by platforms and stockbrokers used |
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, unrestricted access |
| National Savings & Investments | Yes |
| Unlisted shares | Yes, considered on a case by case basis |
| Structured products | Yes, considered on a case by case basis |
| Trustee Investment Plans | Yes |
| Insurance company funds | Yes |
| Hedge funds | Yes |
| Traded endowment plans | Yes |
Property purchase | |
| Purchase fee | £300 per property Additional 50% per member for joint property purchase |
| Sale fee | £300 per property |
| Annual property administration fee | None |
| VAT registration fee | £80 |
| VAT return fees | £80 per year |
| Other fees | Borrowing fee, higher of 0.5% of the loan and £300 |
SIPP Bank Account | |
| SIPP bank account provider | Any allowed although Cater Allen is the default choice |
| Current interest rate | Dependent on bank chosen |
Structure | |
| Scheme trustees | WM Pension Trustee Services Limited |
| Scheme administrator | Wensley Mackay Limited |
Minimum contributions | |
| Regular payments | None |
| Transfers/Single Premiums | None |
| Min additional | None |
Company Information | |
| Ownership | Privately owned |
| Year established | 1992 |
| Funds under management | Not known |
| Number of SIPPs administered | Circa 300 |
Transfers | |
| Accepts DB transfers? | Yes |
Misc | |
| Flexible Drawdown offered | Yes |
| Notes |
