Junior SIPP charges

Shares (including investment trusts, ETFs, gilts and bonds)
0.25% of the value of the shares in your account
Maximum £25 per quarter
Funds (including unit trusts, OEICs and structured products)
0.25% on the first £250,000 of funds
0.10% on the value between £250,000 and £1m
0.05% on the value between £1m and £2m
No charge on the value of funds over £2m
Cash
No charge
Buying and selling investments (per deal)
£1.50 Funds (including unit trusts and OEICs) online
£9.95 Shares (including investment trusts, ETFs, gilts and bonds) online
£4.95 Shares, where there were 10 or more online share deals in the previous month
Value Charge
Regular investments online £1.50
Dividend reinvestment 1.00% (min £1.50, max £9.95)
Telephone £29.95
Where we are required to complete a paper application (eg structured products and IPOs where specified) £100
Foreign exchange charge on international dealing and foreign currency funds First £10,000
Next £10,000
Next £10,000
Value over £30,000
1.00%
0.75%
0.50%
0.25%
  • Interest rates paid on the cash held in your Junior SIPP
    Cash balance Gross interest rate for this tier only Interest rate (AER) for this tier only
    Above £100,000 0.25% 0.25%
    Above £50,000 - £100,000 0.15% 0.15%
    Above £10,000 - £50,000 0.10% 0.10%
    £10,000 and below 0.00% 0.00%

    Notes:

    • The interest rate for each tier only applies to money held in that tier and not to the account balance as a whole. Total interest paid will be a blended rate depending on the money held in each tier. Therefore the interest rates shown should not be used for comparative purposes with other accounts, unless they operate on a similar basis.
    • The Annual Equivalent Rate (AER) represents the annual rate effectively received by your account if the interest at gross rate applied during a year remained in the account and itself earned interest.
    • 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 and interest is paid to your account quarterly, in arrears. Interest will not be credited or paid if the amount of such interest, at the end of each quarter, is less than £2.50.
    • AJ Bell receives payments from banks based on the aggregate cash balances held across all accounts. The amount we receive will vary depending on the total cash balances held and market interest rates. Over the foreseeable future, we expect to receive between 0.25% below and 0.05% above the prevailing base rate for cash held within a Lifetime ISA, although it may be higher or lower when interest rates are volatile. These payments are used to pay interest at the rates shown on our website, and we retain the amount received above these rates to keep our administration, custody and dealing charges low.
  • Income drawdown and other pension charges
      Charge (VAT is payable except where stated)
    One-off income payment £25
    Regular income drawdown payments £100 pa
    Drawdown funds where no income is paid No charge
    Purchase an annuity £150
    Three-year review of capped drawdown maximum income (as required by legislation) if transferring an existing Junior SIPP in payment £75
    Payments on death or if your pension is to be split/shared as part of a divorce Time/cost basis. Minimum charge expected to be £250
    Closure of your Junior SIPP through taking flexi-access drawdown payments within 12 months of opening your Junior SIPP £295

    Notes:

    • These will only apply if the Junior SIPP has been set up to receive a dependant’s pension, a nominee’s pension or a successor’s pension from a deceased person’s pension scheme.
    • The annual charge will be payable when you first start drawing a regular income from your Junior SIPP and on each subsequent anniversary.
    • The closure charge will apply where you have reduced the value of your Junior SIPP to £1,000 or less through taking flexi-access drawdown within 12 months of opening your Junior SIPP. We will be entitled to close your account and pay the remaining funds to you, after deducting our charges.
    • Where we make a one-off payment by CHAPS at your request please note that the CHAPS charge will apply in addition to the one-off payment charge.
  • Transfer out and other charges
      Charge (VAT is payable except where stated)
    Transfer out to another UK registered pension scheme in cash £75
    Transfer out to another UK registered pension scheme in specie £25 per holding (no VAT) plus £75
    Transfer out to an overseas pension scheme (QROPS) £250
    Payment by CHAPS £25
    Disinvestment, if we need to sell some of your holdings to cover charges £29.95 per holding (no VAT)
    Foreign exchange charge payable when we have to convert any dividends or corporate action payments into sterling 0.50% (no VAT)

All charges will be deducted from your Junior SIPP. These charges and rates are effective from 20 December 2018. You must always ensure that there is sufficient cash in your account to cover our charges and any pension, lump sum or other payments, when they are due for payment. VAT is only applicable where indicated. Charges for our Junior SIPP and SIPP are the same. When the child turns 18, the Junior SIPP becomes a SIPP and our SIPP charges will apply.


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