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• Pensions – Stakeholder and SIPP
• SIPP
• Costs
• Account options
• What can I invest in?
• How it works
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Costs

SIPP costs

Dealing charges

Type of dealing (purchase and sale)	Online/phone dealing charges	Inactivity fee
Real-time share dealing	1% (£7.50 min.)	No
Trader option	£7.50	No

Administration fee

Per quarter, payable in advance

£10.00 + VAT

Trader option

Charge per quarter	When
£20.00 + VAT	Setup date, then every quarter until you cancel

The Trader option costs just £20.00 + VAT each quarter, no matter how many accounts you have.

You can buy or sell shares up to the value of £25,000 for a flat dealing commission of £7.50 with the Trader option. Deals over this size are charged at an additional £7.50 per £25,000 of value.

A J Bell's administration fees

Establishment Charge	Nil
Transfer in of another approved pension scheme	£60 per transfer

A quarterly administration fee is also payable based on the fund value of your account at the end of each March, June, September and December. It is payable in arrears and debited from your account.

Fund value
Nil to £25,000	£20
£25,000 - £50,000	£30
£50,000 and above	£40

Transaction charge	Nil
Change of stockbroker	£50
Insufficient funds to pay benefits or fees	£25

Benefits

Income withdrawal - unsecured pension (USP), or	£150 per annum up to age 75, or
alternatively secured pension (ASP) (note 1)	£250 per annum from your 75th birthday, payable annually in advance
Designation of additional funds to existing USP fund (note 2)	£75
Payment of death benefits	Time/cost basis
Transfer out to another registered pension scheme, or annuity purchase	£75

What interest is paid on cash in my account?

Interest is paid on cash balances at the Bank of Scotland Base Rate less 3.5% and is credited quarterly to your account.

Want to reduce your dealing charges?

If you hold shares in Share plc you can get a rebate of up to 30% on your dealing charges.

Notes

1. The annual income withdrawal charge will become payable immediately funds are designated to provide USP or ASP.
2. 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.

All charges are subject to VAT in addition. All charges are due to A J Bell Management Limited and will be deducted from the SIPP Cash Account.

A J Bell Management Limited is authorised and regulated by the Financial Services Authority. Bank of Scotland is the Provider of the SIPP.

01296 41 41 41