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.
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. 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.