Our Account charges cover the basic ongoing cost to us of managing an Account for you, for example, maintaining records, custody of your investments, preparing information we send to you and making reports to the relevant parties.
|Whilst you are still saving||£17.50 plus VAT a month*|
|Once you start taking an income (that means once you move into Income Drawdown or if you ask us to pay you an Uncrystallised Funds Lump Sum Payment’ (UFPLS) on anything other than a one off or very occasional basis)||£23.75 plus VAT a month*|
* If you took your SIPP out before 1 May 2016, monthly collection begins on 1 February 2017 at this new rate. Otherwise, you are already paying monthly.
Our account charge now includes 4 online trades a year. You are not able to opt out of the inclusive trades. Dividend reinvestments and regular buys through our online monthly dealing service do not count towards your inclusive trades and will continue to be charged separately.
The charges you pay to buy and sell investments depend on:
|Dealing service charges|
|Buy or sell online (without any loyalty discount)||£9.99 for each transaction|
|Buy or sell over the phone||£50 for each transaction|
|Buy or sell by post||£50 for each transaction|
|Regular dividend reinvestment||£5 for each transaction|
|Regular buy (direct debit) instructed by post||£5 for each transaction|
|Regular buy (direct debit) instructed by online monthly dealing service||£1.50 for each transaction|
|If you’ve continuously held an Account with us for 5 years or more you qualify for a loyalty discount when it comes to buying or selling investments online or by telephone.|
|You’ve held your account for||You can buy or sell online for||You can buy or sell over the telephone for|
|Other service charges|
|Your Account charge covers the cost of many other Services we provide. But where Services are more complicated and can take up a lot of our time without any realistic prospect of covering costs through your Account charge (transferring investments out is a good example of this) we do ask you to pay for those.
That goes back to our flat fees philosophy. You cover the costs of the Services you use. It’s only fair.
|1. Transferring in and out|
|Transfer in of any pension that contains safeguarded benefits in excess of £30,000 (excludes Guaranteed Annuity Rates (GARs)) such as defined benefit schemes (includes final salary and career average schemes).||£150 plus VAT|
|Transferring investments in from a maturing share scheme||£15 per investment|
|Pension transfer in of cash and/or shares (excluding investments from maturing share schemes)||Free|
|Any transfer out to another provider/UK registered pension scheme||£150 plus VAT or if 1% of your transfer value would be less, you will pay that amount instead.|
|Any transfer out to an overseas pension scheme||£200 plus VAT|
|Sending any money to a receiving pension scheme after a SIPP Account has been closed
(For example, a late payment from your employer or any late income from your investments)
|£50 plus VAT|
|2. Issuing paper documents|
|Paper Document charge (half-yearly statement and valuation, Contract notes, Tax certificates for Investment Dealing Accounts, Statutory money purchase illustrations for SIPP accounts)||£25 plus VAT|
|A one off valuation||£30 plus VAT|
|A paper duplicate of any document we have already issued to you, either online or in paper form||£15 plus VAT|
|3. Taking money out of your SIPP|
|Make a one-off ‘uncrystallised pension funds lump sum’ (UFPLS)||£40 plus VAT|
|Make arrangements with another provider to buy an annuity for you||£150 plus VAT|
|Pay your tax free lump sum by transferring investments rather than paying you cash||£15 per investment|
|4. Other one off events|
|Valuing your Account and making future arrangements for it following your death||£200 plus VAT|
|Implementing a ‘Sharing Order’ following a divorce||£200 plus VAT|
|An in-specie contribution where you make a contribution not in cash but instead transferring the ownership of an asset such as shares to a pension scheme. The contribution is eligible for tax relief.||£500 per investment|
|Writing to a third party (a mortgage provider for example) to confirm the value of your Account||£30 plus VAT per letter|
|Making a one off cash payment to you using CHAPS (we don’t charge for payments by cheque or BACS)||£20 per payment|
All of our SIPP Account charges are listed on this page.
Unfamiliar with some of the terms? Our glossary might help.go to the glossary
As your wealth grows, the charges you pay to us won’t.
As well as our charges and fees, you will also pay a charge for your investments to the fund provider or investment trust.
For funds (OEICs and Unit Trusts) the details are in the Fund Prospectus or Key Investor Information Document.Look these up in our Investing hub
By transferring to us you could benefit from:
“… those with large pension pots are likely to pay less on a service with a fixed annual charge like Alliance Trust Savings ...”
From the Times, How to break free without harming your future wealth, by David Budworth, 25 April 2015.
Alliance Trust Savings Limited is a subsidiary of Alliance Trust PLC and is registered in Scotland No. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 116115. Alliance Trust Savings gives no financial or investment advice.