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Charges  |
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So what does it all cost?
Our charges are explicit and are set at a level to reflect the amount of work involved. Everyone pays their fair share of the administration costs and you will see that the charges become cost effective at a low threshold of contribution input or fund size.
Pricing Structure
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| Establishment & Administration |
|
| Establishment Charge |
Nil |
| Transfer
in of another registered pension scheme |
£60
per transfer |
| Quarterly
administration charge (Note 1) |
| Fund Value | Charge | | Nil | to | £25,000 | £20 | | £25,000 | to | £50,000 | £30 | | £50,000 | and above | £40 |
|
| Transaction
charge (See Investment Charges below) |
Nil |
| Change
of stockbroker |
£50 |
| Insufficient
Funds e.g. to pay benefits or charges |
£25 |
| Benefits |
|
Income withdrawal - unsecured pension (USP), or
alternatively secured pension (ASP) (Note 2) |
£150 per annum up to age 75, or
£250 per annum from your 75th birthday,
payable annually in advance |
| Designation of additional funds to existing USP fund (Note 3) |
£75 |
| Payment of death benefits |
Time/cost basis |
| Transfer out to another registered pension scheme, or annuity purchase |
£75 |
Notes
- Payable in arrears at the end of March, June, September and December.
- The annual income withdrawal charge will become payable immediately funds are designated to provide USP or ASP, even if you elect to take "nil" income.
- No additional charge is made when the first funds are designated to provide unsecured pension, or funds are designated to alternatively secured pension at age 75.
- All charges are subject to VAT in addition (currently at 17.5%). All charges are due to AJ Bell Management Limited and will be deducted from the SIPP Cash Account.
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Interest Rates
Please note that all un-invested cash can only be held in your individual SIPP Cash Account with Bank of Scotland, or in the client account of your stockbroker. There are no routine bank transaction charges and interest is paid to your account without any deduction of tax. Interest rates are subject to variation. The interest rate shown for the applicable band applies to the entire balance.
The Annual Equivalent Rate, AER, represents the annual rate effectively received by a customer if the interest at the gross rate applied during a year remained in the account and itself earned interest. As every advert for a savings product where a rate is displayed will contain an AER, you will be able to compare more easily the return you can expect from your savings over time.
A J Bell Management Limited receives commission payments from Bank of Scotland based on aggregate cash balances held across all SIPP cash accounts.
Investment Charges
For investment and dealing charges please contact your stockbroker. Investment and dealing charges are payable in addition to the charges shown above. |
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