|Last updated||20th September 2016|
|VAT is not charged on these fees|
|Initial/Set up fee||nil|
|Annual fee||0.55% 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 fee||Nil|
|Transfer out fee||Nil|
|In-specie transfer in fee||Nil|
|Annuity purchase fee||Nil|
|Payment of death benefits fee||Nil|
|Alteration to income fee||Nil|
|Other fees||Equity dealing charges based on the size of the deal:
Up to £15,000, £25
£15,001 to £30,000, £35
Above £30,000, £50
|Access: Direct or via IFA||Via IFA only|
|Details||Member has read only access, IFA has greater online functionality including online dealing|
|Commercial property||(via Suffolk Life)|
|Unit trusts & OEICS||Only available via the Aviva platform, other platforms not allowed|
|External deposit accounts|
|Overseas listed stock and shares|
|UK listed stocks and shares||Only available via the Aviva platform, other platforms not allowed|
|AIM shares||The majority of AIM shares can be purchased|
|ETFs||Only available via the Aviva platform, other platforms not allowed|
|National Savings & Investments|
|Trustee Investment Plans|
|Insurance company funds|
|Warrants/ CFDs (Contracts for difference)|
|Traded endowment plans|
|via Suffolk Life|
|Purchase fee||Aviva 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 fee||Suffolk Life fee when using panel solicitor, £600
Suffolk Life fee when using off-panel solicitor is time costed, expected £600-£800
|Annual property administration fee||Aviva ongoing fee 0.12% of the net value pa taken monthly.
Suffolk Life annual fee, £365
|VAT registration fee||TBC|
|VAT return fees||£150 per property
|Other fees||Annual 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 provider||Royal Bank of Scotland|
|Current interest rate||0.05% below Royal Bank of Scotland base rate|
|Scheme trustees||Aviva Pension Trustees UK Limited|
|Scheme administrator||Aviva Pension Trustees UK Limited|
|Regular payments||£300 per month / £3,600 per year|
|Year established||Norwich Union were founded in 1797, the Aviva brand was launched in 2009|
|Funds under management||Not given|
|Number of SIPPs administered||Not given|
|Accepts DB transfers?||Yes|
|Flexible Drawdown offered||No|
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.