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95 Day Pension Notice Account (SIPP) 

1.40%

As part of your existing Self Invested Personal Pension (SIPP), our SIPP Notice Account is an attractive offering for those who don’t want to lock their funds away for the long term or need immediate access to their cash.

95 Day Pension Notice Account (SIPP)

1.40%

Apply now

Download or request an application form to open your 95 Day Pension Notice Account (SIPP).

What is the interest rate?

Balance £25,000 or more

1.40%

Gross PA / AER*

Balance less than £25,000

0.50%

Gross PA / AER*

Note, accrued interest is calculated daily and is paid into the Notice Account annually on 30th June. This is a tiered managed rate**.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and added each year. Interest is compounded. Gross PA means Gross Per Annum, i.e. before tax is deducted (at the legal rate).

Can Close Brothers Savings change the interest rate?

Yes. The Notice Account rate (**managed rate) can be changed at any time.

**Managed rate refers to a rate that we can change at any time. Such changes may be made without notice if the change is favourable to you. However, we must give you at least one month’s written notice of any reduction in rate. See clause 5 of the Product Terms and Conditions.

What would the estimated balance be after 12 months based on £25,000 deposit?¹

Initial deposit  Interest earned
after 12 months 
Balance after
12 months
 
£25,000.00  £350.00  £25,350.00 
£1,000.00 £5.00 £1,005.00

Kindly note, the minimum opening deposit for this account is £25,000. If your balance falls below £25,000, interest will be set at 0.50% gross p.a. (variable) until the balance meets or exceeds £25,000.

Calculate your balance after 12 months

How do I open and manage my account?

It’s easy to apply by post. The application must be sent from an FCA approved SIPP Administrator or Trustee. The minimum opening deposit is £25,000 and the maximum is £2million. You can pay money into your account by electronic bank transfer (details will be made available as part of the application). You may also place additional funds (no minimum amount), ensuring they do not exceed the maximum balance.

Managing your account is easy too, simply call or write to us and we’ll help you with any questions or instructions.

Can I withdraw money?

Yes. You may place notice to withdraw funds at any time in writing or over the telephone. Your funds will be repaid following completion of the applicable notice period.

If your balance falls below £25,000, interest will be set at 0.50% Gross P.A. (variable) until the balance meets or exceeds £25,000.

Additional information

Tax

Tax information. We do not currently deduct tax from any interest paid to you. Tax benefits depend on individual circumstances and could change in the future.

Definitions

Definitions. ¹ Assumptions: (1) the initial deposit shown is deposited at the time the account is opened; (2) no further deposits or withdrawals are made during the 12 month period; and there is no change to the applicable interest rate during the 12 month period.

Can we help?

If you'd prefer to speak to someone directly or have any questions, please get in touch.

Call us on

020 3857 3050

Lines are open

9am - 5pm, Monday to Friday (excluding UK bank holidays)

Alternatively email us at: savings@closebrothers.com

Financial Services Compensation Scheme logo

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Close Brothers Savings are protected up to a total of £85,000 by the UK's Financial Services Compensation Scheme. Any deposits you hold above this limit are unlikely to be covered. For further information visit www.fscs.org.uk.