Home| Last updated | 26th August 2011 |
|---|---|
Charges | Charges are not subject to VAT |
| Initial/Set up fee | None |
| Annual fee | Dependent on fund size. Pre- Retirement: 10k - 19,999 1.00% per year 20k - 49,999 0.75% per year 50k - 99,999 0.65% per year 100k - 249,999 0.60% per year £250k + 0.55% per year Income Drawdown: 50k - 99,999 0.65% per year 100k - 249,999 per year 0.60% £250k + 0.55% per year |
| Transfer in fee | £310.75 if Zurich funds are below £140,000 |
| Transfer out fee | None |
| In-specie transfer in fee | £103.55 |
| Income Drawdown | Initial: Less than £140,000 held in Zurich funds £77.65 More than £140,000 held in Zurich funds £0 Ongoing (in addition to charges shown above): Less than £140,000 held in Zurich funds £124.25 (£51.75 if no income is taken) More than £140,000 held in Zurich funds £0 |
| Additional Income Drawdown fees | Set up charge for each additional tranche £77.65 Yearly charge for each additional tranche £124.25 (£51.75 if no income is taken) Ad hoc income payment, £56.95 Alteration to income fee, £56.96 |
| Annuity purchase fee | £103.55 |
| Payment of death benefits fee | Nil |
| Other fees | In specie transfer out fee £103.55 Mutual fund transaction charge, £20.65 per online trade, £41.35 per trade through dealing desk Stocks and shares transaction charge, £20.65 per online trade, £41.35 per trade through dealing desk Trustee Investment Plan £41.35 per year for each TIP held Trustee Invesrment Plan transaction fee £41.35 for each transaction Fixed term deposit account, £41.35 per transaction Offshore Bond £41.35 per year for each bond held Offshore Bond transaction fee £41.35 Deposit based Structured Product charge £41.35 per transaction Discretionary Fund Manager yearly fee £155.35 Ad hoc valuation of wider SIPP assets £103.55 |
Management | |
| Access: Direct or via IFA | Via IFA only |
Online capability | |
| Details | Via IFA only |
Permitted Investments | |
| Commercial property | Yes, via Capita |
| Unit trusts & OEICS | Yes, via Fundsdirect |
| External deposit accounts | Yes, restrictions apply |
| Overseas listed stock and shares | Yes, via Stocktrade |
| UK listed stocks and shares | Yes, via Stocktrade |
| AIM shares | Yes, via Stocktrade |
| Gilts/corporate bonds | Yes, via Stocktrade |
| ETFs | Yes, via Stocktrade |
| Investment trusts | Yes, via Stocktrade |
| Discretionary management | Yes |
| National Savings & Investments | No |
| Unlisted shares | No |
| Structured products | Yes |
| Trustee Investment Plans | Yes |
| Insurance company funds | No |
| Hedge funds | Yes |
| Traded endowment plans | No |
Property purchase | |
| Purchase fee | Initial charge £387.40 per property Completion charge £279.65 per property |
| Sale fee | £536.60 per property |
| Annual property administration fee | £699.20 per property |
| VAT registration fee | Not known |
| VAT return fees | £115.80 |
| Other fees | Mortgage arrangement charge £140.80 If rent is in arrears £70.35 per quarter Property renovation 0.5% of the works cost, minimum £1000.65 New / renewal lease £298.30 Rent review (member as tenant) £298.30 Rent review (non member as tenant) £536.60 Deed of variation £536.60 Licence to alter / change use £536.60 Assignment charge £536.60 Sub let £536.60 |
SIPP Bank Account | |
| SIPP bank account provider | Royal Bank of Scotland |
| Current interest rate | 1% below Bank of England base rate |
Structure | |
| Scheme trustees | Zurich |
| Scheme administrator | Capita |
Minimum contributions | |
| Regular payments | £100, must be in addition to single or transfer |
| Transfers/Single Premiums | £10,000 |
| Min additional | £1,000 |
Company Information | |
| Ownership | Zurich |
| Year established | 1872 |
| Funds under management | £41.4 billion in the UK across all products |
| Number of SIPPs administered | Not known |
Transfers | |
| Accepts benefits from defined benefit / final salary schemes? | No |
Misc | |
| Flexible Drawdown offered | Yes |
| Notes |
