Summary of charges

 

  • NO set up charge
  • NO charge for cash transfers in
  • NO charge to trade Investment Centre funds online
  • NO contribution charge

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 Schedule for details.

Annual platform charge1
First £300,000 - 0.25%
On next £300,000 – 0.20%
On next £400,000 - 0.15%
On next £500,000 - 0.05%
Over £1.5 million - 0.01%

1The charge is calculated on or around the first day of each month and is based on a percentage of the combined value of Cash Panel deposits, cash held in your SIPP Bank Account (as well as any bank account held in relation to a property and, if applicable, your GIA and ISA Bank Accounts) and Investment Centre holdings (including Managed Portfolio Panel) across all products held in the Modular iPlan.

To administer investmentsModular iSIPP
Panel stockbroker account £20pa (per account)
Optional Whole of Market Module* £102pa
Optional Commercial Property Module* £102pa
Buy, sell or switch external investments online* £20 (per investment provider)

*Further charges apply within these modules. Please see our full Modular iSIPP Charges Schedule for details.

Putting money inModular iSIPP
In-specie transfer from another plan (per transfer) £50

*Subject to maximum of £200pa per product transferred in.

Taking money outModular iSIPP
Set up income drawdown £100*
Annual income drawdown charge £154pa**
Uncrystallised funds pension lump sum payment £100
Arranging annuity purchase £150

Annual platform charge

First £300,000 - 0.25%
On next £300,000 – 0.20%
On next £400,000 - 0.15%
On next £500,000 - 0.05%
Over £1.5 million - 0.01%

1The charge is calculated on or around the first day of each month and is based on a percentage of the combined value of Cash Panel deposits, cash held in your SIPP Bank Account (as well as any bank account held in relation to a property and, if applicable, your GIA and ISA Bank Accounts) and Investment Centre holdings (including Managed Portfolio Panel) across all products held in the Modular iPlan.


To administer investments

Modular iSIPP

Optional Whole of Market Module* – £102 + VAT pa

Optional Commercial Property Module* – £102 + VAT pa

Buy, sell or switch external investments online (per investment provider) – £20 + VAT

*Further administration and transaction charges apply within these modules. Please see our full Modular iSIPP Charges Schedule for details.


Putting money in

Modular iSIPP

In-specie transfer from another plan (per transfer) - £50*

*Subject to maximum of £200pa per product transferred in.


Taking money out of the Modular iSIPP

Set up income drawdown - £100*

Annual income drawdown charge - £154pa**

Uncrystallised funds pension lump sum payment - £100

Arranging annuity purchase - £150

*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 and 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 is taken.


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