Fees
Single Portfolio Self Invested Personal Pension
Summary of Services and Charges (November 2009)
The Single Portfolio Self Invested Personal Pension ("Plan") brochure describes our personal pension scheme in detail. The following paragraphs expand upon the services provided and our charges.
Establishment
Dentons will provide all the necessary advice and documentation to establish your Plan and will set up the bank account and client agreement with your chosen investment manager. Once your Plan has been established we will send you a folder containing all the documentation. Our fee for establishing your Plan is £495 exclusive of VAT. This includes setting up the client account with your chosen investment manager.
Standard Administration
Our standard fees for administering your Plan will be £400 per annum where the Plan does not include an element of protected rights. Or £575 per annum where the Plan does include an element of protected rights. All fees are exclusive of VAT. These fees will be increased annually on 1st November in light of changes in National Average Earnings or Retail Prices Index, whichever is the greater. Standard administration shall include:
- Banking of cheques
- Reclamation of tax on contributions
- Updating scheme documentation
- Setting up and maintenance of computer records
- HM Revenue & Customs enquiries and audits (excluding VAT registration and returns, if required)
- Production of annual statement
- Production of Statutory Money Purchase Illustrations (SMPI)
- Data Protection Act and registration with the Pensions Regulator
Additional Administration
Work in addition to standard administration will be charged on a time recorded basis.
Consultancy Advice
There may be times when you require additional advice or services outside of the normal administrative procedures. For example, you may wish to review your future retirement and the method of drawing your pension or discuss your investment strategy, property purchases etc. You may also require further services such as registering your Plan for VAT or amending the standard scheme documentation to suit your circumstances. Where not provided by your financial adviser, we will be pleased to carry out this work and to advise on all other aspects of your Plan. Advice on your Plan outside of the normal administrative work will be calculated on a time recorded basis.
Method of Payment
The establishment fee should be settled from your Plan bank account as soon as the first contribution or transfer payment has been received. Thereafter, fees will be billed to your Plan half yearly in arrears, and deducted from your Plan bank account.
Terms and Conditions
To view our Key Features, Terms and Conditions please click here.