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Pension charges and fees

Here are all the relevant charges and fees relating to our SIPP account.

Charges and Fees for the SIPP Account

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.


Account charges
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:

  • how you give us instructions (online, by phone or by post)

  • whether you are buying or selling on a one off basis or have asked us to make regular investments on your behalf

  • for online and telephone deals, how long you have continuously held an Account with Alliance Trust Savings (loyalty discount).
We do not currently pay interest on cash deposits within our platform product range. Alliance Trust Savings may itself earn and retain interest on amounts which are placed on deposit. The amount of such interest may vary from time to time.

These charges apply to each individual transaction we arrange on your behalf. So if you want to ‘switch’ an investment - sell one type of investment and replace it with another - you pay one charge for the sell transaction and one charge for the buy transaction.



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

Loyalty Discount
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
5-10 years £8.99 £45
11-15 years £8.49 £42.50
16-20 years £7.99 £40
>20 years £7.49 £37.50

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

Important information

Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested.

Before you choose a SIPP, make sure you understand its aims and risks. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice. Alliance Trust does not give advice. A SIPP requires active management and investment expertise. You should make sure you review your investments regularly. You normally cannot take an income from your pension until age 55.

Charges may be subject to change in the future.

Charges shown are valid from 1 February 2017. For details of our current charges read our charges guide.

No hidden charges

All of our SIPP Account charges are listed on this page.


face

Unfamiliar with some of the terms? Our glossary might help.

go to the glossary

The flat fees difference

As your wealth grows, the charges you pay to us won’t.


  • We charge flat fees.

  • We DON’T charge a percentage of the value of your investments.

  • So the amounts you pay depend on the accounts you hold, the services you use and how often you use them. Not on your wealth.

Related documents

Visit our dedicated SIPP literature page.
literature

Investment charges

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

Why transfer to Alliance Trust Savings?

By transferring to us you could benefit from:


  • Being able to keep track of and manage more of your pension savings in one place, through our 24/7 online service.

  • Potential savings on the Account charges you pay. We charge relatively low, flat fees that don’t grow with your investments.

  • No transfer in fee, and no minimum transfer value.
Find out how to transfer


“… 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.