Self Invested Personal Pension (SIPP)

Here are some of the features of our Self Invested Personal Pension (SIPP).

Access to over 1500 funds and the expertise of 80 fund managers.
Clear charging structure, with the cost of products, investments and advice all clearly disclosed. This means your clients understand what they’re paying for.
A smooth transition into retirement through income drawdown - with no additional charges for taking retirement benefits.
a tax-efficient, flexible way to draw an income through phased drawdown.
Our online SIPP platform is a great way for your clients to monitor their pension plan more easily. With just a few clicks, they can access detailed plan information.

For further information please see the key features (pdf) document.

Here are some of the facts you need to know about our SIPP.

Criteria	Detail		Notes
Age limits	SIPP min age at entry	18	You can take your pension benefits from age 55
Term	Min term	None
Payment limits	Min initial transfer investment	£10,000	Additional transfer payments must be at least £1,000
	Min initial single payment	£10,000	Additional single payments must be at least £1,000
	Min initial regular payments	£300/month £3600/year	If the existing SIPP is already worth £50,000 or more, the minimum is £100 a month or £1,200 a year (including tax relief).
Transfers	Protected rights	Yes	Accepted directly into the plan and can be invested in all assets
	In-specie	Yes	No additional charges
	In-specie commercial property	Yes
Investment options	OEICs	Yes
	Unit trusts	Yes
	Investment trusts	Yes
	Commercial property	UK Only	Via Suffolk Life
	Shares listed on LSE	Yes	Share listed on the FTSE All Share and AIM All Share indices, via Charles Stanley Stockbrokers.
	AVIVA internal funds	Yes	over 1500 funds
	External funds	Yes	over 1500 funds

Here are the current charges and commission options for our SIPP

Charges

Type of charge	Detail		Notes
Annual management charge	0.55%		Charge is of the total fund value per annum, excluding direct property investments and equities. Charge is subject to discount as shown below.
Charge discount	Fund value	Discount
	£50,000 - £99,999	0.05
	£100,000 - £249,999	0.10
	£250,000 - £499,999	0.15
	£500,000 and over	0.20
Transfer in/out	No fee
Equity trading transaction fee	Between £25 & £50 per trade
Property transaction fee	Variable - typical charges are approx. £375		Aviva initial admin charge. Suffolk Life purchase administration fee.
Annual property fee	Aviva Annual Management Charge: 0.12% per annum		Applied by Aviva on net value of property, taken monthly.
Annual property fee	Suffolk Life Charges: Variable		Suffolk Life annual admin fee
Fund Management Charges	Varies depending on funds selected. Most funds have discounted Initial and Annual Management charges.Fund Manager Expense Charges may also apply

Commission

Type of commission	Detail		Notes
Fund based commission	Up to 1% in 0.01% steps		Excludes direct property investments and equities.
Payment linked commission	Up to 5.00% of each single or regular payment in 0.01% steps.		No uplift available.
Funded commission	Single payments	Up to 4.00% of the single payment, in 0.1% steps, depending on the client's age.	Funded commission is not available if client is aged 70 or over. No uplift available.
Funded commission	Regular payments	A one off payment of up to 12.00% of the yearly payment, in 0.3% steps depending on the client's age.	Regular payments must be between £500 and £2,000 a month (£6,000 and £24,000 a year) to qualify for Funded Commission. Funded Commission can only be taken when regular payments start. It is not available on increases.
Drawdown initial fee	A fee that can be included when setting up the drawdown arrangement.
Drip feed fee	A fee that can be paid from the plan for each drawdown crystallisation undertaken.

Charge for Funded Commission

Yearly charge for Funded Commission	Single / Transfer payments % of payment		Regular payments % of yearly payment
as % of the fund	Under 45	45-69	Under 45	45-69
0.00%	Nil	Nil	Nil	Nil
0.25%	1.00%	N/A	3.00%	N/A
0.50%	2.00%	1.00%	6.00%	3.00%
0.75%	3.00%	2.00%	9.00%	6.00%
1.00%	4.00%	3.00%	12.00%	9.00%

For further information please see our Aviva SIPP charges and limits (pdf) brochure

Here is some information to help you decide if our SIPP is right for your client.

Designed for customers who	Not designed for customers who
Want to take control of their own money Want to be able to make their own investment decisions Want a wide investment choice, potentially including equities and commercial property Are a permanent resident in the UK Want to utilise phased drawdown	May need access to their money before retirement Have a short timescale to retirement and can only make limited payments into their pension plan Only require a limited investment choice Have a small amount of pension plan investments or who are making limited payments to a pension plan
Key considerations	Possible alternatives
Current income levels Existing pension arrangements including company schemes State benefits Target level of disposable income in retirement Anticipated retirement date Required fund range Attitude to risk Remember that the value of investments can go down as well as up and your client may not get back the value of the original investment	Company pension scheme Non-pension investment vehicle Individual personal pensions Stakeholder pension

Need Support? The Self Invested Personal Pension (SIPP) offers you the following features.

Extensive suite of support tools

Log on to our online SIPP platform to see fund performance data and fact sheets, get access to charting and illustration tools, and generate reports on client assets and commissions.

Need any more information?

Phone the Client Services team on 0845 0756655

or email sippclientservices@aviva.co.uk

Self Invested Personal Pension (SIPP)

Features

Facts

Figures

Clients

Support

Charges

Commission

Charge for Funded Commission

Extensive suite of support tools

Need any more information?

Related links

Related documents