SIPP Charges, the Sippdeal e-sipp is a low cost Self Invested Personal Pension (SIPP) with access to the UK's largest fund supermarket, no setup fee and no annual charge.

Establishment & administration

When you establish your SIPP	Nil
SIPP annual administration	Nil
If you pay a single contribution	Nil
If you pay a regular contribution	Nil
If you transfer in from another registered pension scheme	Nil

Dealing

If you deal online (per deal)	£9.95
If you deal by telephone (per deal)	£29.95
Deals where Sippdeal is required to complete a paper application and pre-fund the cost (e.g. structured products). You will be told in advance if this will apply.	£100

Notes

The investments that you choose may have their own initial and annual charges, in addition to our dealing charges.
If you are investing in unit trusts and OEICs, we offer discounts of up to 6.0% on the initial charge made by the fund managers. All initial commission and any specially negotiated discounts of initial charges on unit trusts and OEICs are passed on to your SIPP. See our Funds List for details. Information on the annual charge for the unit trust or OEIC may be obtained from our dealing site, or direct from the fund manager.
Dealing charges apply to purchases and sales.
Stamp duty of 0.5% applies on all purchases (not sales) of UK quoted shares (1% for shares quoted on the Irish Stock Exchange). Stamp duty is payable on certain securities issued by UK incorporated companies where these securities are traded as CREST Depositary Interests. There is no stamp duty on purchases (or sales) of unit trusts, open ended investment companies (OEICs), exchange traded funds (ETFs), warrants and government stock.
The PTM (Panel on Takeovers and Mergers) levy of £1.00 is payable on equity trades with a consideration over £10,000 in securities of companies which are incorporated in the UK, Channel Islands or the Isle of Man.
For unit trusts and OEICs, we may receive and retain a portion of the annual management charge (also known as trail commission) applied by the fund manager.

Benefits & transfers out

If you set up an unsecured pension (USP), including paying any lump sum benefits	£150 + VAT
If you set up an alternatively secured pension (ASP) at age 75	£250 + VAT
If you designate additional funds, or request a review of income levels, under USP	£75 + VAT
Annual USP administration charge (Note 1)	£75 p.a. + VAT
Annual ASP administration charge (Note 2)	£250 p.a. + VAT
If you have insufficient funds e.g. to pay benefits or charges	£25 + VAT
If you purchase an annuity with part, or all, of your fund	£125 + VAT
If you transfer out to another UK pension scheme (Notes 3 & 4)	£75 + VAT
If you want us to make any payment by CHAPS	£25 + VAT
Payment of benefits on death or if your pension is to be split/shared following a divorce	Time cost basis

Notes

This charge becomes payable on the first anniversary of the date that the USP is set up and the charge is payable even if you elect to take "nil" income in any year.
This charge becomes payable on the first anniversary of the date that the ASP is set up.
If you wish to transfer out in-specie, then a charge of £20 + VAT per holding will also apply.
For transfers out to Qualifying Recognised Overseas Pension Schemes (QROPS) the transfer out charge will be £250 + VAT.

Interest rates (Last updated : 01 December 2009)

Cash Balance	Gross interest rate for this tier only	Interest rate (AER) for this tier only
£50,000.00+	0.10%	0.10%
£20,000.00 - £49,999.99	0.05%	0.05%
£5,000.00 - £19,999.99	0.05%	0.05%
£0.00 - £4,999.00	0.05%	0.05%

Notes

Please note that un-invested cash can only be held in your SIPP cash account. If you wish to hold cash deposits in an account of your choice then A J Bell also offers the fully flexible Platinum SIPP that may be more appropriate (www.ajbell.co.uk).
The interest rate for each tier only applies to money held in that tier and not to the account balance as a whole. Total interest paid will be a blended rate depending on the money held in each tier. Therefore the interest rates shown should not be used for comparative purposes with other accounts, unless they operate on a similar basis. Interest is tiered within bands so you will currently receive 0.05% on the first £4,999.00, 0.05% on the amount above £5,000.00 and below £19,999.99, 0.05% on the amount above £20,000.00 and below £49,999.99, and 0.10% on the balance above £50,000.00.
The Annual Equivalent Rate (AER) represents the annual rate effectively received by a customer if the interest at gross rate applied during a year remained in the account and itself earned interest.
There are no routine bank transaction charges and interest is paid to your account without any deduction of tax.
Interest rates are subject to variation and interest is paid to your account quarterly, in arrears.
You will receive a regular statement detailing all of the transactions on your account.
We may receive payments from banks based on aggregate cash balances held across all SIPP accounts with them and keep these payments for our own account.