Last updated22 May 2019

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee£350, Smart SIPP
£500, Smart Plus SIPP (investments made into unregulated investments that have been accepted by Carey Pensions UK)
Annual fee£500 Smart SIPP
£1,500 Smart Plus SIPP
Transfer in feenil for transfer from a Personal Pension

£250 per transfer from an Occupational Pension Scheme

£350 per transfer from overseas/international scheme

time costed for transfers from overseas/international
Transfer out fee£200 for full or partial cash transfers

£300 for full or partial cash transfer and in-specie transfer of assets

£500 for transfer to any overseas scheme
In-specie transfer in fee£200 per transfer
Taking BenefitsInitial:

£250, establishment of Flexi-Access Drawdown and payment of PCLS

Ongoing:

Monthly income £200 per annum Quarterly income £150 per annum Annual income £125 per annum

Ad-hoc payment outside payroll payments on 28th of month, £100

Small Pots Payment £125 - for values under £10,000

Closure of scheme following Flexi-Access/UFPLS payment - one years annual administration fee

Capped Drawdown:

Review of Pension Income Limits, £150 per review
Annuity purchase fee£300
Payment of death benefits fee£500
Other feesInvestment related fees:

Transactions, nil

£500, per unregulated investment transaction

£500, per unquoted share transaction

£500, for the establishment of a third party loan

Banking:

CHAPS payments, £25

International payments, £30

Faster payments, £5

Other fees:

Divorce, £500

Additional valuations, £100

Client / trustee meetings, £200 + travel

Management

Access: Direct or via IFABoth

Online capability

DetailsCarey Pensions can provide on line illustrations for advisers to use, plus online access to scheme information for advisers and underlying clients. There is also an online application form.

Permitted Investments

Commercial property
Overseas propertyOn a case by case basis
Unit trusts & OEICSAll platforms allowed
External deposit accountsUnrestricted access to all 'sippable' 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 managementUnrestricted access
National Savings & Investments
Unlisted shares
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£1,000, per property

Same fee is charged if in-specie transfer of property,
Sale fee£500 per property
Annual property administration fee£400 assuming a single member

Costs rise where there are multiple owners
VAT registration fee£150
VAT return fees£75 per quarter
Other feesProperty development, 0.75% of final development costs (min £500)

Environmental search, £350

Insurance renewal, £100

Mortgage arrangement , £300

SIPP Bank Account

SIPP bank account providerRoyal Bank of Scotland
Current interest rate0.00%

Structure

Scheme trusteesCarey Pension Trustees UK Ltd
Scheme administratorCarey Pensions UK LLP

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipSTM Group
Year established2009
Funds under managementCirca £1.7 billion
Number of SIPPs administeredCirca 900
Defaqto RatingTBC

Transfers

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

Misc

Flexible Drawdown offeredYes
Scheme Pension offeredYes
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Carey Pensions UK Smart & Smart Plus SIPP

Carey Pensions was established in 2009, is owned by Carey Group and manages over 900 SIPPs (Self Invested Personal Pensions) with funds under management of approximately £1.7 billion.

Carey Pensions offer three SIPPs, namely the Carey Pensions Simple SIPP, Smart SIPP & Smart Plus SIPP.

The Carey Smart & Smart Plus SIPP, allows investment into a wide range of assets including directly held shares, corporate bonds and gilts, commercial property, and SIPP deposit accounts.  The Smart Plus allows for and unregulated ‘non standard’ investments reviewed and acceptable in The Carey Pension Scheme.

The Carey Pensions SIPPs can be accessed directly or via an IFA and has no minimum contribution levels for regular payments, lump sum payments or transfers in.

Royal Bank of Scotland runs the mandated SIPP account.