If your investments fall in value, you could lose money. Tax allowances and the benefits of tax-efficient accounts could change. 

Self-Invested Personal Pension (SIPP)

Take control of your retirement investments. You could also cut your costs. 

SIPP benefits

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Fixed monthly account fee

£12 + VAT per month and no management or platform charges.

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Pick your own

You’re in control of choosing, buying and selling your investments.

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Tax-efficient

Tax relief on contributions and no Capital Gains Tax on profits.

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Wide investment choice

Shares, funds, investment trusts, bonds, gilts, ETFs and more.

SIPP costs

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 £12 + VAT per month £12 + VAT per month
Dealing option fee - £20 + VAT 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

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.

How our SIPP works

We work in partnership with Curtis Banks, one of the UK's top pension providers. They will handle your application, funding and any transfers from existing pension plans. Once everything's set up, you'll buy, sell and manage your investments through us. 

If you need to contact Curtis Banks directly, please use the details below;

Email: esipp@curtisbanks.co.uk

Phone: 0117 3324100

They're open between 9:00am to 5:30pm, Monday to Thursday and 9:00am to 5:00pm on Fridays (except public holidays).

Please read

Key features document
Terms & conditions

Why invest with us?

Fixed monthly account fee

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small green moneybag in circle

A low monthly admin fee of £4.80 per month and a dealing option to suit you, enabling you to get the most from your investments.

Tax-efficient

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small green acorn labelled "isa"

Invest up to £20,000 this tax year. No Capital Gains or further Income Tax to pay on profits.

Pick your own

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small green grabbing claw in circle

Choose from a wide range of range of investments: shares, funds, investment trusts, bonds, gilts, ETFs and more.