Last updated2 June 2017

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Read reviews for the Westerby Trustee Services Full SIPP

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
£310
Annual fee£550
Transfer in feeNone for transfer in at establishment, £75 during 2nd and subsequent policy years
Transfer out feeCash £150, Other assets £250 per asset
In-specie transfer in feeFrom £210 (relates to property only)
Income DrawdownInitial: £150

Ongoing: £150 per annum
Additional Income Drawdown feesMandatory reviews, £150
Annuity purchase fee£225
Payment of death benefits feeTime costed, subject to a minimum of £200
Other feesIn specie contribution of property, £880

In specie contribution of other assets, £265 (Standard assets)
£400 - £700 (Non standard assets)

Purchase of unlisted shares, £400 - £600

Sale of unlisted shares, £200

Third party loans, £400

Annual loan administration fee, £175

Ad hoc valuations, £75

In specie transfer out, Cash £150, Other assets £250 per asset

Pension sharing on divorce, time costed subject to a minimum of £200

Additional deeds, £250

Reminder letters on matters outstanding over 90 days, £25 per letter

Management

Access: Direct or via IFABoth

Online capability

DetailsApplication Form, Key Features Documents available to download from website. Online access only available to IFAs

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 loansSubject to a maximum of 50% of the fund on both a secured or unsecured basis

Property purchase

Purchase fee£780
Sale fee£500
Annual property administration fee£250 per property
VAT registration fee£250
VAT return fees£250
Other feesOverseas property purchase, time costed subject to a minimum of £995

Borrowing fee, £300

In specie transfer of a property from another registered pension scheme, from £210

In specie contribution of a property, £880

Building plots and development land, £100 per year

Additional tenant, £100 per year

SIPP Bank Account

SIPP bank account providerMetro Bank
Current interest rate0.25%

Structure

Scheme trusteesWesterby Trustee Services Limited
Scheme administratorWesterby Trustee Services Limited

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipPrivately owned
Year established1996
Funds under administration£468 million
Number of SIPPs administered1,600
Defaqto rating5 Star

Transfers

Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised with recommendation in favour of the transfer.

Misc

Flexible Drawdown offeredYes
Scheme Pension offeredNo
NotesPayment of whole fund under Flexible Drawdown in year one incurs no additional charge

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Westerby Trustee Services Full SIPP

Westerby Trustee Services is privately owned, was established in 1996 and offer both SIPPs (Self Invested Personal Pensions) and SSAS (Small Self Administered Schemes).

The two SIPPs offered by Westerby Trustee Services are the Full SIPP and the SOLO SIPP.

In total Westerby Trustee Services administer just over 1,600 SIPPs with total funds under administration over £460 million.

The Westerby Full SIPP allows investments in a wide range of assets including commercial property, deposit accounts, shares, discretionary managers, structure products and investment trusts.

The Full SIPP is available direct from Westerby or via an IFA (Independent Financial Adviser) and there is no minimum contribution level for regular, lump sum or transfer payments but there is a minimum fund value of £20,000.

The mandated SIPP bank account is held with Metro Bank.