The deposit guarantee covered by the Financial Services Compensation Scheme is reducing from £85,000 to £75,000, from 1 January 2016.

For more information please click here.

All products held with the James Hay Partnership are linked to a product bank account. All product bank accounts are held with either Santander, Barclays Bank or Nationwide.

The product cash accounts are in place to hold un-invested cash and are not designed to be a substitute for investment.

The Santander* account currently earns an interest rate of 0.00001% gross p.a. (variable interest rate of 15/16th of 1% below Bank of England base rate; minimum rate 0.00001%)

The Santander** account (for products formerly with Barclays) currently earn an interest rate of 0.1%

* Applicable to Modular iPlan, Modular iSIPP, iSIPP, Wrap, Private Client SIPP, eSIPP and Select SIPP

** Applicable to Partnership SIPP, IPS SIPP, IPS 2008 SIPP, IPS Pension Builder and Family SIPP

The Barclays account currently earns an interest rate of:

  • 0.4% below Bank of England Base Rate for balances of over £50,000 currently paying 0.1%
  • 0.6% below Bank of England Base Rate for balances of under £50,000 currently paying 0.1%.

Both subject to a minimum interest rate payable of 0.1%.

Applicable to SSAS

The Nationwide current account currently earns an interest rate of 0.25% gross p.a. 

Applicable to IPS Pension Builder


For more information on bank accounts held through the James Hay Partnership, please read our Cash Management Q&As for Modular iSIPP or  Partnership SIPP.