The Taylor Patterson Cash SIPP is designed to accept:
- Transfers of members' benefits from other pension arrangements.
- Contributions from members and/or their employers.
All transfers payments and contributions are held on a special SIPP account with Cater Allen Private Bank (part of the Abbey National Group) that carries an attractive rate of interest.
It is, therefore, ideally suited to those who require a cost effective means of consolidating existing benefits and/or building up a fund from contributions in the following situations:
- In the run up to retirement.
- Pending making longer-term decisions to invest in market securities and/or property.
When the member decides to invest in market securities or property, or chooses to draw benefits, it is a simple matter to convert the Cash SIPP to either the Investor or Master SIPP depending upon the facilities the member requires.
Key Features
- Only cash transfers from existing arrangements and contributions permitted.
- Funds held on a Cater Allen Private SIPP Bank Account.
- When other investment facilities are required or benefits are to be drawn, conversion to the Investor or Master SIPP is simple and straightforward.
Scale of Charges
- Establishment Fee - £125
- Annual Fee, in advance - £125
- Inward Transfer Payments, per transaction
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- Arranged by member's IFA - £Nil
- Arranged Taylor Patterson - execution only - see note below - £75 |
- Contributions, establishment of banker's order - £35
- Contributions made by cheque or BACS, per transaction - £30
- In specie transfers in lieu of contributions
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- Property as per property fee scale plus - £100
- Market investments including AIM shares - £150 |
| Transfer to another provider's arrangement - £300 |
On conversion to the Taylor Patterson Investor or Master SIPP, no additional establishment fee will be payable only a conversion charge of £150 and an appropriate proportion of the annual charge for the selected SIPP to the next plan anniversary date. A charge will be made for any other work of a non-standard or routine basis not included in above scale on a time-cost basis.
Note: In its capacity of Trustee and Administrator of the SIPP, Taylor Patterson does not give advice on the merits or otherwise of transferring benefits from other pension arrangements and will only deal with such transfers on an execution only basis. The member is recommended to take advice from an independent financial adviser on such matters.
All charges are subject to VAT and are subject to increases each year by reference to the latest published Average Earnings Index. Taylor Patterson reserves the right to amend its fee scale at any time.
Download the Key Features |
