SIPP costs

Please note: From 13 March 2020, we will not be accepting new SIPP applications as our pension trustee is changing. Current applications and policies will continue to be processed as normal and we will advise as soon as a new trustee is appointed.

We charge fixed account fees, which don’t grow with your investments and offer a choice of dealing options to keep your dealing costs down (you'll start off on 'standard' by default). 

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Standard dealing option
I usually deal less than £750 or occasionally
Frequent dealing option
I deal more than £750 frequently or have a lump sum to invest
Fixed account admin fee £15 per month £15 per month
Dealing option fee - £24 per quarter
Dealing commission £7.50 per deal for trades less than £750, 1% for £750 and above £7.50 per deal
Dealing commission for phone/post/email £20 per deal for trades less than £2,000, 1% for £2,000 and above £20 per deal

Other dealing fees

Stamp Duty Levy 0.5% on the purchase of UK shares (excluding AIM and other recognised growth markets). Other rates may apply to non-UK shares.
PTM Levy £1 on transactions over £10,000
Foreign Financial Transaction Tax Tax Payable on the purchase of specific European shares (charge varies by country)

Optional services

Regular investing 0.5% (min. £1)
Dividend reinvestment 0.5%
Statements & contract notes by post rather than email £2.40 per month

Overdue fee charge

Overdue fee charge - Sell stock (per investment) £7.50 (To recover overdue fees on your account we may need to divest the equivalent value of your investments, plus this additional charge to cover the cost of the trade) (This charge applies from 6 July 2019)

The below charges are based on our SIPP administered in conjunction with Curtis Banks. For details on charges for SIPPs held in conjunction with other providers, please check directly with your pension provider.

Distribution of death benefits

Curtis Banks admin fee From £300
Our admin fee £100

Transfers

Transfer capped drawdown to us (flexi access drawdown is free) £75 + VAT
Transfer to another provider  £125 per account

Please note: No fees (including annual and income facility fees) will be refunded when transferring to another provider.

Taking benefits

Flexi-access drawdown

Establishing flexi-access drawdown  Free for the first event, £225 + VAT for >1 each year
Annual income drawdown £195 + VAT per year (in advance)
Final payment and SIPP closure fee £250 + VAT

Capped drawdown

Establishing capped drawdown £225 + VAT
Annual income drawdown £195 + VAT per year (in advance)
Review of capped drawdown £165 + VAT

Uncrystallised funds pension lump sum

Establishing UFPLS Free for the first event, £225 + VAT for >1 each year
Final payment and SIPP closure fee £250 + VAT

Annuity purchase

Purchase fee £175 + VAT


Costs and charges illustration

To give you a feel for the costs involved, our cost sheet includes an illustration of costs you will pay, based on how much you invest and what type of investments you choose.

Download Black View costs & charges sheet

Payment of account & dealing charges

Your account admin fee (and postal statements & contract notes fee if chosen) will be collected from your account on the 26th of each month, or the next business day. If you’ve chosen our frequent dealing option, the first payment will be collected from your account when opened and quarterly thereafter. Dealing commission, regular investing fees and other fees will be taken from your account as part of each transaction.

What interest will be paid on cash?

Gross interest on any cash you hold will be credited to your account quarterly at the Bank of Scotland base rate, minus 3.5% (min. 0%). We may retain the difference between the interest paid to you and the interest we are able to earn, as permitted by The Financial Conduct Authority.

Contact Curtis BanksGreen email envelope

Email: cmt@curtisbanks.co.uk

Phone: 0117 3324100 (9:00am-5:30pm weekdays)

Still need help?Green email envelope

Please get in touch with our Customer Service team.

Contact us


Phone:
 01296 41 41 41 (8:00am-4:30pm weekdays)

Write: The Share Centre, PO Box 2000, Aylesbury, Bucks. HP21 8ZB