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We keep things simple with a quarterly admin charge based on the value of your SIPP. This charge is payable in arrears at the end of March, June, September and December, and applies for the lifetime of the SIPP.
All charges are inclusive of VAT and will be deducted from the SIPP.
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Annuity purchase
£90
Ad hoc statement or valuation (on request)
£12.50
Transfer in of another registered pension scheme
£60 per plan (maximum £300)
Transfer out to another registered pension scheme or a Qualifying Recognised Overseas Pension Scheme (QROPS)
Free
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Charges table Flexi-access drawdown1
£180 per annum
Capped drawdown1
Before age 75 - £180 per annum
Age 75 onwards - £300 per annum
Designate additional funds to drawdown / review income levels2
£90
Convert from capped drawdown to flexi-access drawdown
£90
Take an Uncrystallised Funds Pension Lump Sum (UFLPS) – a one-off payment
£90
CHAPS (same day payment)
£30
SIPP closure through drawdown or lump sums where the balance is reduced below £1,000
Free
Payments on death or if your pension is to be split/shared as part of a divorce
Free
1. This will become payable immediately where funds are designated to provide drawdown even if you elect to take "nil" income. Payable annually in advance.
2. Payable each time you designate additional funds to drawdown, once your SIPP is in drawdown stage.
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Fund Managers will charge various fees such as an ongoing charge or transaction fees, and details of these can be found within the Key Investor Information Document for each fund.
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Stamp Duty
When you buy a UK stock, you’ll pay a form of tax called Stamp Duty to the Government. Stamp duty is 0.5% of the value of the investments you buy (1% on Irish stocks) and you won’t pay any Stamp Duty on AIM stocks or Exchange Traded Funds.
PTM Levy
Any trade over £10,000 will also be liable for a levy of £1.50 which is paid to the Panel on Takeovers and Mergers (PTM).