Last updated20th September 2016

Charges

VAT is not charged on these fees
Initial/Set up feenil
Annual fee0.55% of the plan value exluding direct property and direct equity investments

The annual management charge is reduced depending on the total plan value (excluding direct property and direct equity investments) as follows:

Up to £29,999 : 0.40%
£30,000 up to £249,999 : 0.35%
£250,000 up to £399,999 : 0.25%
£400,000 and above : 0.15%
Transfer in feeNil
Transfer out feeNil
In-specie transfer in feeNil
Taking BenefitsNil
Annuity purchase feeNil
Payment of death benefits feeNil
Alteration to income feeNil
Other feesEquity dealing charges based on the size of the deal:

Up to £15,000, £25

£15,001 to £30,000, £35

Above £30,000, £50

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsMember has read only access, IFA has greater online functionality including online dealing

Permitted Investments

Commercial property(via Suffolk Life)
Unit trusts & OEICSOnly available via the Aviva platform, other platforms not allowed
External deposit accounts
Overseas listed stock and shares
UK listed stocks and sharesOnly available via the Aviva platform, other platforms not allowed
AIM sharesThe majority of AIM shares can be purchased
Gilts/corporate bonds
ETFsOnly available via the Aviva platform, other platforms not allowed
Investment trusts
Discretionary management
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company funds
Warrants/ CFDs (Contracts for difference)
Hedge funds
Traded endowment plans

Property purchase

via Suffolk Life
Purchase feeAviva Set up fee £375.

Suffolk Life fee when using panel solicitor, £1,450.

Suffolk Life fee when using off-panel solicitor is time costed, expected £1,700 - £1,900
Sale feeSuffolk Life fee when using panel solicitor, £600

Suffolk Life fee when using off-panel solicitor is time costed, expected £600-£800
Annual property administration feeAviva ongoing fee 0.12% of the net value pa taken monthly.

Suffolk Life annual fee, £365
VAT registration feeTBC
VAT return fees£150 per property
Other feesAnnual property facility fee £100

Annual property management fee, time costed, estimated at around £700 per year

Variation of proportion of property ownership, time costed estimated at around £600

Loan establishment and administration, time costed

Borrowing fee, £100 per year

SIPP Bank Account

SIPP bank account providerRoyal Bank of Scotland
Current interest rate0.05% below Royal Bank of Scotland base rate

Structure

Scheme trusteesAviva Pension Trustees UK Limited
Scheme administratorAviva Pension Trustees UK Limited

Minimum contributions

Regular payments£300 per month / £3,600 per year
Transfers/Single Premiums£10,000
Min additional£1,000

Company Information

OwnershipPublic company
Year establishedNorwich Union were founded in 1797, the Aviva brand was launched in 2009
Funds under managementNot given
Number of SIPPs administeredNot given

Transfers

Accepts DB transfers?Yes

Misc

Flexible Drawdown offeredNo
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Aviva Pension Portfolio (SIPP)

Aviva, formally known as Norwich Union, was founded in 1797 and changed to the Aviva brand in 2009.

Aviva provide a wide range of financial products including car insurance, home insurance, life insurance, health insurance, pensions, SIPPs (Self Invested Personal Pensions), ISAs (Individual Savings Accounts) and other investment products.

The Aviva SIPP, which is only available through IFAs, has a charging structure based on the percentage of the amount invested, and offers a wider range of investment options than a Personal Pension, but is not as comprehensive as other SIPPs.

If SIPP commercial property purchase is required this is done through Aviva’s link with Suffolk Life.

The minimum monthly contribution for the Aviva SIPP is £300, with the minimum transfer in or single premium set at £10,000.

The mandated SIPP bank account is held with the Royal Bank of Scotland and pays a rate of interest slightly below bank base rate. The options for investors looking to hold Cash are limited to this single account as the Aviva SIPP does not allow access to any other external SIPP deposit account.