Last updated19th June 2013

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Read reviews for the Berkeley Burke Simple SIPP

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee£225
Annual fee£250
Transfer in feeNone
Transfer out fee£250, cash transfer fron default SIPP bank account

£250 per transfer (max £750) non cash transfer
In-specie transfer in fee£250
Income DrawdownInitial: £250

Ongoing: £150, where income is taken
Additional Income Drawdown feesReview of income limits £500
Annuity purchase fee£250
Payment of death benefits fee£250
Other feesRefund of contributions (where allowed), £25

In specie contributions, £250

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsBank account and online valuations

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 productsSubject to compliance sign off
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 providerBank of Scotland
Current interest rate0.75%

Structure

Scheme trusteesBerkeley Burke Trustees Ltd
Scheme administratorBerkeley Burke SIPP Administration Ltd

Minimum contributions

Regular payments£1
Transfers/Single Premiums£20,000
Min additional£1

Company Information

OwnershipPrivately owned company
Year established1973
Funds under managementTBC
Number of SIPPs administered2,100
Defaqto ratingFive Stars

Transfers

Accepts DB transfers?Yes, if IFA advised

Misc

Flexible Drawdown offeredYes
Scheme Pension offered
Notes

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Berkeley Burke Simple SIPP

Based in Leicester Berkeley Burke was established in 1973, is a privately owned company and currently runs just over 2,000 SIPPs (Self Invested Personal Pensions).

Berkeley Burke offer two SIPPs, namely the Full SIPP and the Simple SIPP.

The Simple SIPP is designed for SIPP investors who want the flexibility of a SIPP but who only want to invest in a small number of assets.

The Berkeley Burke Simple SIPP is only available via IFAs (Independent Financial Advisers) and offers access to most allowable SIPP investments except commercial property.

The Simple SIPP has low minimum contribution levels and can be started for just £1 per month or a transfer in, or lump sum payment, of £20,000.

Any uninvested money is held in the Bank of Scotland mandated SIPP bank account, which currently pays 0.75%, above average for this type of account.