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Charges
Our charges for the administration of your SIPP are very low and are set at a level to reflect the amount of work involved.
| Establishment and Administration | |
|---|---|
| Set up | Nil |
| Quarterly administration charge (see note 1 below) | £18.75+VAT for portfolios of £50,000 and below £37.50+VAT for portfolios of £50,001 and above |
| Transfer in of another registered pension scheme | £50 per transfer (maximum £300) per SIPP |
| Insufficient funds e.g. to pay benefits or charges | £25 |
| Benefits | |
|---|---|
| Income withdrawal (see notes 2&3 below) Unsecured pension (USP), or alternatively secured pension (ASP) |
£150 per annum up to the age of 75, payable annually in advance £250 per annum from your 75th birthday, payable annually in advance |
| Designation of additional funds to existing USP fund (see note 3 below) | £75 |
| Payment of death benefits | Time/cost basis |
| Transfer out to another registered pension scheme | £75 |
| Annuity purchase | £75 |
Charging Structure
1.Payable in arrears at the end of March, June, September and December.
2.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.
3.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.
4.All charges are subject to VAT in addition.
5.All charges except the transfer charge will be deducted from the dealing account set up for your SIPP with Interactive Investor.
6.These charges may be shared between AJ Bell Management Limited and Halifax Share Dealing Limited
Investment Charges
Dealing and stockbroking administration service charges are payable in addition to the SIPP administration charges:
| Equity Dealing Charges | |
|---|---|
| Regular or one-off planned purchase | Buy shares for just £1.50 |
| Real-time purchases and sales | UK stocks - £10 flat fee per deal US and European stocks - £15 flat fee per deal |
| Re-investment of dividends | 1% of the value of the deal, capped at the appropriate trading commission for that deal |
| Fund Dealing Charges | |
|---|---|
| Initial charge | Typical 1% initial charge on funds (average 80% saving on standard initial fees) |
| Annual management charge | The fund manager charges a % fee each year to cover the costs of the management of the fund. This is typically 1 – 1.5% |
| Stockbroking Administration Charges | |
|---|---|
| Transfer out of shares to another pension provider | £10 per investment |
Interest Rates
The interest rate payable on our Self Invested Personal Pension follows the Bank of England Base Rate. We will amend our interest rate as soon as is practicably possible following a change in the base rate - the current rates that are applicable are 0.5% which is paid on any cash held in your trading account, calculated daily and paid annually.
