Frequently Asked Questions

To find out more about the Dentons SIPP and the type of investments that you can hold please click on the questions below.

What is a SIPP?
A SIPP is a retirement vehicle: it is a personal pension wrapper that can hold a wide range of approved investments both directly and through collectives. This offers you a greater level of flexibility and control over investment choices which is good if you use it. Should you only want limited fund availability you may be able to access this more cost-effectively without the SIPP wrapper cost. If you need to discuss your options with someone please contact your own authorised and regulated Financial Adviser. If you do not have an adviser, please view  unbiased.co.uk or VouchedFor.co.uk.

The Dentons SIPP has been accepted by HM Revenue & Customs (HMRC) as a Registered Pension Scheme: you will be a trustee of your Plan together with our associated Trustee Company. This approach provides you with a greater degree of control over your Plan and in the investment selection process.
Is this a Stakeholder Pension?
The Dentons SIPP is not a Stakeholder Pension Plan. If you think that a Stakeholder Pension may be suitable for you, please contact your Financial Adviser.
Why use a SIPP?
A SIPP is used to enable you to build up pension funds for your retirement. This type of pension vehicle is mainly used for the greater flexibility and greater range of investments offered over other forms of pensions.

Other personal pension plans usually only allow a limited range of investments and are also generally lower in cost. If you think that a pension other than the Dentons SIPP may be suitable for you, please contact your own authorised and regulated Financial Adviser. If you do not have an adviser, plesae view unbiased.co.uk or VouchedFor.co.uk.
What investments are allowed?
The Dentons SIPP is designed to provide you with total investment flexibility from an extensive range of asset classes. We will consider all investments permitted by HMRC however there are some investments that we do not allow. Please click on the links below to find out more:
  We would advise that you seek financial advice before making any investment decisions. Although Dentons will not provide advice on the suitability of investments, we reserve the right to refuse to hold any proposed investment within your Plan. If you need advice before making any decision please contact your own authorised and regulated Financial Adviser. If you do not have an adviser please view unbiased.co.uk or VouchedFor.com.

Please note: If you are considering higher risk investments such as Unregulated Collective Investment Schemes (UCIS), you must confirm that you are a sophisticated investor.
What is the minimum investment?
Dentons considers ‘treating customers fairly’ a very important aspect of your Plan and as such, we feel that a minimum fund value of £50,000 justifies the fees charged. 
What pensions can be transferred to a SIPP?
You can transfer existing pension benefits with other providers to the Dentons SIPP. However you will need to consider whether there are any penalties or exit charges for transferring.

Before accepting a transfer from a scheme with safeguarded benefits (including defined benefit/final salary) into a Dentons SIPP we require that regulated advice has been sought from a suitably qualified individual, where applicable (eg where a CETV (Cash Equivalent Transfer Value) has a value of £30,000 or less), along with details of the name and company of the person who has provided this advice. Our 'Transfers from schemes offering safeguarded benefits' form must be fully completed and accompany your SIPP application.

Our requirements are designed to protect you by ensuring that you fully understand the impact of the potential loss of any safeguarded benefits and on your Plan value.
What contributions can I make?
You can make one off or regular payments into your SIPP to take advantage of the generous tax benefits available to you at any time. You can also transfer an existing pension into your SIPP.

Tax relief will normally be available on any personal payments you make up to the greater of £3,600 a year or 100% of your earnings into your Plan (inclusive of tax relief) subject to a maximum Annual Allowance of £40,000. From April 2015, to prevent abuse of the new pension flexibility and choice, once retirement income has been drawn under flexi-access rules, new Money Purchase Annual Allowance restriction of £4,000pa will apply (reduced from £10,000 in April 2017).

No tax relief is available on contributions after age 75.

If you are employed, your employer is able to make contributions to your Plan provided the combined amount of employer and employee contributions does not exceed the Annual Allowance.

Please note: restrictions on contributions may apply once benefits come into payment post 5 April 2015.
What might I get when I retire?
The final value of your Plan will depend on a number of factors including how much is paid in, how long the payments are invested for, how well the investments perform and the charges taken from your Plan. The amount of your pension at retirement will depend on the circumstances at the time you choose to convert your Plan into a pension including interest rates, your age at retirement and the type of pension you choose.
How can I apply for a SIPP?
Before applying for a Dentons SIPP, it is important that you read the Dentons Key features and SIPP Terms and Conditions of Business.

» Please apply online
Is it possible to open a SIPP in joint names?
No, a SIPP must be held in a single name. Dentons operates its SIPP under a ‘Master Trust’ arrangement with each individual SIPP established under a separate individual sub trust and each SIPP holder being appointed as a co-Trustee of the sub-trust. This means that your SIPP fund and assets are ring-fenced from other Plans and from Dentons itself. One of Dentons bare trustee companies will act as a co-trustee of the sub-trust. The assets bought by the SIPP are legally owned by the trustees.
Can a SIPP be opened for a child?
If the applicant is under 18, their legal guardian must give the undertaking, on behalf of the member, to be responsible for the contract until the member reaches his or her 18th birthday. Any contributions paid to the SIPP may only be returned to the member in the form of benefits payable under the rules of the Scheme. As the Dentons SIPP requires the member to be a co-trustee and must therefore be over 18, a SIPP for a minor will be set up on the Sippchoice Bespoke SIPP.

Please note: the Dentons SIPP requires a minimum fund value of £50,000 therefore may not be suitable for a child.
Do I need financial advice?
If you feel that you need to discuss your options with someone prior to completion of the Dentons SIPP application and you do not have a financial adviser there are various online sites where you can contact someone local to you:
  If you are transferring from a scheme with safeguarded benefits (including defined benefit/final salary) into a Dentons SIPP we require that regulated advice has been sought from a suitably qualified individual and our 'Transfers from schemes offering safeguarded benefits' form must be fully completed and accompany your SIPP application. We do not accept insistent clients.
What are the costs?
Some of the costs for establishing a SIPP will be fixed but others are on a time cost basis, meaning you only pay for the services you need.

We recognise that SIPPs will not be the answer for everyone but where you plan on using a wider range of assets or can benefit from the charging structure then they should be considered. For a Dentons SIPP to be cost-effective we request a minimum pension fund size of £50,000.

Our prices are outlined in the Fee Schedule.
Before applying
You must be satisfied that a SIPP is suitable for you.

Dentons SIPPs are generally suitable for investors that have built up pension funds in excess of £50,000 and are happy to pay higher fees and charges for the extra flexibility and investment control provided.

The wide range of investments that are available with SIPPs are generally not available with many other types of pension.

It is important that you are satisfied that the investments you choose are suitable for you. In addition you need to consider the liquidity of certain investments especially if you are close to retirement. Some higher risk investments may incur additional charges.

Prior to making certain ’high risk’ investments we will require you to complete a sophisticated investor questionnaire and non standard investment declaration: please see the Non standard assets section of our website for more information.

Please note: Dentons is unable to advise you on the suitability of your chosen investments and we do have the right to veto certain investments especially if they contravene HMRC rules. However we can provide factual information about SIPPs and Dentons.

Investment risks: past performance is no guarantee that this can be repeated and should not be considered as an indication of what can be achieved in the future. It is important that you understand the risks that you are accepting when making investments.
Transfers to my Dentons SIPP
If you are considering transferring existing pension benefits from a scheme with safeguarded benefits (including defined benefit/final salary) into a Dentons SIPP we require that regulated advice has been sought from a suitably qualified individual, where applicable (eg where a CETV (Cash Equivalent Transfer Value) has a value of £30,000 or less) and our 'Transfers from schemes offering safeguarded benefits' form must be fully completed and accompany your SIPP application. We do not accept insistent clients.

Many defined benefit schemes provide other benefits such as life cover and our process is to protect you by ensuring that you fully understand the impact of the potential loss of these benefits and on your Plan value.

When transferring from another provider you will need to consider whether there are any penalties or exit charges for transferring.

Before completing the Dentons online application it is important that you read the following documents:
  If there is anything that you do not understand, please click the SIPP Chat link below or email us. We aim to respond quickly to any requests but during busy periods this may take up to 48 hours.