Summary of charges

  • If set up online, NO cost to set up an SIPP
  • £195 SIPP annual administration charge, reducing to nil if £195,000 + held in qualifying investments across Modular iPlan
  • Annual platform charge of 0.18% of what you hold in the Investment Centre, falling to 0.05% on portfolios of £1 million+

A summary of charges is shown below. Please note these are the charges that apply if the plan is set up and managed completely online. Other charges may apply. See our full Modular iSIPP Charges Summary for details.

To set up the planModular iSIPP
To set up the plan online Nil
Annual administration charge (taken in advance) £195 (Nil if £195,000+ in Investment Centre, cash deposits or bank account across whole iPlan)
To administer investmentsModular iSIPP
Annual Investment Centre platform charge First £500,000 - 0.18%pa
Next £500,000 - 0.15%pa
Over £1 million - 0.05%pa
Buy, sell or switch Investment Centre investments online Nil
Optional Whole of Market Module* £100pa
Optional Commercial Property Module* £100pa
*Further administration and transaction charges apply within these modules. Please see our full Modular iSIPP Charges Summary for details.
Putting Money InModular iSIPP
Single ad-hoc cash contributions £50 per contribution
Transfer from another plan (per transfer) £50*
*Subject to maximum of £200pa per product.
Taking money outModular iSIPP
Set up income drawdown £100*
Annual income drawdown charges £150pa**
Uncrystallised funds pension lump sum payment £100
*Applies every time a pension commencement lump sum (PCLS) The tax-free lump sum available on both defined benefit and defined contribution pension schemes. Typically 25% of the pension fund (subject to a maximum of 25% of the lifetime allowance) can be taken as a tax-free sum. The rest of the pension fund must be used to provide an income ñ in the case of a defined contribution scheme this can be done by buying an annuity or using income drawdown. is paid. Also applies to set up drawdown for a transferred plan where no further PCLS is payable.
** Applies as soon as drawdown is set up, even if no income drawn

Other charges apply. Please see our full Modular iSIPP Charges Summary for details.