Last updated15th April 2014

Reviews

Read reviews for the SIPP Specialists Acorn Lite SIPP SIPP

Charges

Initial/Set up feeNone
Annual fee£275
Transfer in feeNone if not in Income Drawdown

£150 if in Income Drawdown
Transfer out fee£150
In-specie transfer in fee£150
Income DrawdownInitial: £150

Ongoing: £35 per year plus £5 each payment
Additional Income Drawdown feesMandatory reviews, £150

Flexible Drawdown, £250
Annuity purchase fee£150
Payment of death benefits fee£500
Other feesBank charges:

Next day faster payment, free

Same day faster payment, per £100,000 payment, £3

CHAPS, £20

Management

Access: Direct or via IFABoth

Online capability

DetailsApplication forms can be completed on-line

Permitted Investments

Commercial property
Overseas property
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 feeN/A
Sale feeN/A
Annual property administration feeN/A
VAT registration feeN/A
VAT return feesN/A
Other feesN/A

SIPP Bank Account

SIPP bank account providerCambridge & Counties Bank
Current interest rate0.1% up to £10,000

0.25% above £10,000

Structure

Scheme trusteesMW SIPP Trustees Ltd
Scheme administratorMW Pensions Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipWholly owned subsidiary of MW Pensions Ltd
Year established2003
Funds under management£193 million
Number of SIPPs administered1,700
Defaqto ratingNot available

Transfers

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

Misc

Flexible Drawdown offeredYes
Scheme Pension offeredNo
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

SIPP Specialists Acorn Lite SIPP

The SIPP Specialists Acorn Lite (Self-Invested Personal Pension) was started in 2003 and currently has over £193 million under management in the UK spread across 1,700 SIPPs.

The Acorn Lite SIPP is available both via IFAs (Independent Financial Advisers) and direct and allows investors to access a wide range of investments, including deposit accounts, directly held securities, discretionary fund managed and Unit Trusts, OEICs and Structured Products.

There is no minimum regular, lump sum or transfer payment needed to start the Acorn Lite SIPP.

The mandated SIPP bank account is  held with Cambridge & Counties Bank, paying an interest rate below Bank Base Rate but the SIPP does allow investment into other SIPP deposit accounts.