Junior SIPP charges
Interest rates paid on the cash held in your Junior SIPP
Transfer out and other charges
Charge (VAT is payable except where stated) Transfer out to another UK registered pension scheme in cash No charge Transfer out to another UK registered pension scheme in specie £9.95 per holding (no VAT) 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 £9.95 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) Purchase an annuity £150 Additional charge for transferring in a pension to your Junior SIPP and then transferring your Junior SIPP to another provider or closing it within 12 months £295 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
- The additional Junior SIPP charge will apply if you transfer a pension to us and then substantially transfer your Junior SIPP to another pension scheme, or close your SIPP through taking flexi-access drawdown payments within 12 months of opening
- We offer segregated accounts – to find out more about these and the charges that apply, please email firstname.lastname@example.org.
If you are accessing your pension via capped drawdown the following charges apply:
- One-off payment of a tax free lump sum or one-off income payment - £25 + VAT
- Regular income drawdown payments - £100 per annum + VAT
- Crystallised funds where no income is paid – no charge
- Three-year review of capped drawdown maximum income (as required by legislation) if transferring an existing Junior SIPP in payment - £75 + VAT
- The annual charge will be payable on each anniversary if you are taking a regular income
- 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.