SIPP charges
Annual shares custody charge (including investment trusts, ETFs, gilts and bonds)
0.25%
of the value of the shares in your account
Maximum £10 per month
Annual funds custody charge (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 £500,000
No charge
on the value of funds over £500,000
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 | £1.50 | |
| 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 Value over £20,000 |
0.75% 0.50% 0.25% |
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Interest rates paid on the cash held in your SIPP
Cash balance Gross interest rate for this tier only Interest rate (AER) for this tier only Above £100,000 0.35% 0.35% Above £50,000 - £100,000 0.25% 0.25% Above £10,000 - £50,000 0.20% 0.20% £10,000 and below 0.00% 0.00% Notes:
- When comparing charges between different SIPP product providers, you should also compare the interest rates payable on your cash, particularly if you intend to hold significant sums of money in cash. The amount of interest paid will depend on the amount you choose to hold in cash and market interest rates.
- 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.
- 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.
- There are no routine bank transaction charges and interest is paid to your account without any deduction of tax.
- 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.
- 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 0.10% below and 0.60% above the prevailing base rate for cash held within a SIPP, 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.
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Other charges
Charge (VAT is payable except where stated) Transfer to another pension scheme No charge 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 Payments on death or if your pension is to be split/shared as part of a divorce Time/cost basis. Minimum charge £250 Notes:
- We offer segregated accounts – to find out more about these and the charges that apply, please email newbusiness@youinvest.co.uk.
Capped drawdown charges
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
- Review of capped drawdown (includes triennial/annual reviews and reviews when additional funds are moved into drawdown) - £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.
We'll take all charges from your SIPP, unless you've requested otherwise. These charges and rates are effective from 1 August 2022. 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.
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