|Last updated||16th May 2019|
|Charges are not subject to VAT
|Initial/Set up fee||£352.90 if less than £140,000 in Zurich Pension funds, otherwise, nil|
|Annual fee||£75 per year payable quarterly for Retirement Account
£470.55 for Wider SIPP assets if Zurich funds are below £140,000
Zurich Portfolio Charge:
Up to £99,999
£100,000 - £249,999
£250,000 - £499,999
|Transfer in fee|
|Transfer out fee||None for cash transfers
£117.55 for in-specie transfers out
|In-specie transfer in fee||£117.55|
|Taking Benefits||No additional fees
|Annuity purchase fee||£117.55|
|Payment of death benefits fee||Nil|
|Other fees||In specie transfer out fee £117.55
Mutual fund transaction charge, £20.65 per online trade, £41.35 per trade through dealing desk
Stocks and shares transaction charge, £24, incl VAT per online trade
Trustee Investment Plan £46.90 per year for each TIP held
Trustee Investment Plan transaction fee £46.90 for each transaction
Fixed term deposit account, £46.90 per transaction
Offshore Bond £46.90 per year for each bond held
Offshore Bond transaction fee £46.90
Deposit based Structured Product charge £46.90 per transaction
Discretionary Fund Manager yearly fee £176.40
Ad hoc valuation of wider SIPP assets £117.55
|Access: Direct or via IFA||Via IFA only|
|Details||Easy to use portal which features the ability to configure access to both funds and wrappers as well as placing either the adviser’s own brand on the site.
Deep two-way integration with back office systems means reuse of client data reducing the amount of time on administration.
Full integration with independent toolset allowing client preferences and portfolios to be analysed and monitored without the need for re-keying data.
Straight through processing to ensure real-time transactions on investments, trades, switches or withdrawals.
Pre-funding of trades, including: pension tax relief, fund manager rebates and one off withdrawals, to minimise the time clients are out of the market.
|Unit trusts & OEICS||In house platform only|
|External deposit accounts|
|Overseas listed stock and shares||In house stockbrokers only|
|UK listed stocks and shares||In house stockbrokers only|
|AIM shares||In house stockbrokers only|
|Gilts/corporate bonds||In house stockbrokers only|
|ETFs||In house stockbrokers only|
|Investment trusts||In house stockbrokers only|
|Discretionary management||Unrestricted access|
|National Savings & Investments|
|Trustee Investment Plans|
|Insurance company funds|
|Traded endowment plans|
|Brands / Trademarks|
|Third party loans|
|Annual property administration fee||N/A|
|VAT registration fee||N/A|
|VAT return fees||N/A|
SIPP Bank Account
|SIPP bank account provider||Royal Bank of Scotland|
|Current interest rate||TBC|
|Scheme trustees||Zurich Pension Trustees Ltd|
|Scheme administrator||Capital Life & Pensions Regulated Services (Capita)|
|Regular payments||No minimum|
|Transfers/Single Premiums||No minimum|
|Min additional||No minimum|
|Funds under management||£50bn across all products as at Dec 2015|
|Number of SIPPs administered||25,500|
|Defaqto rating||Five Stars in 2017|
|Accepts benefits from defined benefit / final salary schemes?||No|
|UFPLS/ Flexi-Access Drawdown offered||Yes|
|Scheme Pension offered||No|
Zurich Intermediary Platform – Retirement Account
Zurich was established in 1872 and has assets under management of over £50 billion in the UK across all products.
The Zurich SIPP is only available through IFAs (Independent Financial Advisers) and if you hold more than £140,000 in Zurich pension funds, there are no set up fees.
Whilst having wider investment powers the Zurich SIPP is perhaps more restrictive than other SIPPs which are available.
The minimum monthly payment into the Zurich SIPP is £100, providing that a lump sum or transfer of at least £10,000 is also received.