No charge to start, top up, or transfer in pensions to a Vantage SIPP
Plus, act by 28 June and you could win 1 of 50 iPad minis
(terms apply).
Start a SIPP
Transfer now
Top up
iPad is a trademark of Apple Inc.
SIPP charges & interest rates
Start a SIPP
Transfer now
Top up
More of your money working for you
We believe the Vantage SIPP offers some of the lowest costs of any Self Invested Personal Pension. Low costs mean more of your money working for you.
- FREE to set up and low cost to run
- Loyalty bonus of up to 0.5% a year
- Regular Fixed Rate Cash Offers
| Set-up: | No charge |
| Contributions: | No charge |
| Transfers in:* | No charge |
| Inactivity charge: | No charge |
* Before you transfer please ensure you will not lose any valuable guarantees or incur excessive exit fees.
Annual management charges
| Funds | No charge for more than 2,400 funds. A small number of other funds are subject to a platform fee of £1 or £2 per holding, per account, per month. Check charges on fund factsheets. |
| Cash | No charge |
| Shares, investment trusts, ETFs, gilts & bonds | 0.5% a year (Capped at £200 a year across all holdings in the account) |
| Note: The investments you choose may have their own initial and annual charges and a bid offer spread. | |
Dealing charges (per deal)
Fund dealing | ||
| Online, phone and post dealing
(unit trusts and OEICs) |
No charge
We also offer up to a 5.5% saving on the initial charges made by the fund manager | |
Share dealing |
||
| Online and mobile app (shares, exchange traded funds and investment trusts) |
Deals previous month | Dealing charge |
| 0 - 9 deals | £11.95 | |
| 10 - 19 deals | £8.95 | |
| 20 or more deals | £5.95 | |
| The online share dealing charge is determined by the number of deals you placed in the previous calendar month. The tariff you pay in August, for example, will depend on the number of share deals you place in July, and we count deals placed across all the Vantage accounts held under the same client number. | ||
| Phone and post dealing | 1% (£20 minimum, £50 maximum)
Please note: residual stocks, bonds, gilts, VCTs and PIBS can only be dealt over the phone. | |
| Share dividend reinvestment | 1% (£10 minimum, £50 maximum) In each account, if you choose automatic reinvestment, any dividends you receive will be reinvested once they reach £200 per share holding. | |
Miscellaneous charges
Made in addition to the charges laid out above, where applicable.
| Cash transfer from other Vantage account | No charge |
| Limit orders (placed online) | No charge |
| Limit orders (placed by telephone) | £10 per deal |
| Excess fund repayment: | £75 +VAT |
| Pension splitting on divorce: | £150 +VAT |
| Triviality payment: | £150 +VAT |
| Transfer out to UK scheme: | £75 |
| Transfer out to overseas scheme: | £250 |
| CHAPS payment: | £25 |
| Arranging death benefits: | £150 +VAT |
We make it as easy as possible by collecting fees automatically from your account. If we cannot collect fees from cash held on your account we write to you explaining your options. If you fail to respond we may sell investments to cover your outstanding fees in which case separate fees described in our terms and conditions may apply.
Other charges may apply in specific circumstances - see the Terms & Conditions for details.
Government taxes and levies (per deal)
| UK Stamp duty | 0.5% on purchases of UK shares (rounded up to the nearest £5 for residual shares) |
| PTM (Panel of Takeovers & Mergers) | £1 on UK share deals over £10,000 |
When buying overseas-listed investments, additional charges may apply in that country.
Fixed Rate Cash Offers
We regularly offer our clients fixed-rate deals. You can earn a competitive interest rate on the cash in your SIPP, provided you leave the money in cash for three or six months. To find out about future offers, please register your interest.
Below are the next Vantage SIPP Fixed Rate Cash Offers. We have a fixed tranche of money available for each offer which is allocated to investors on a first come, first served basis.
Before investing please read the Key Features of the SIPP Fixed Rate Cash Offer:
Key Features of the SIPP Fixed Rate Cash Offer
| Term | Opens for subscription | Closes for subscription | No. of days interest | Gross
(p.a.) % |
AER
% |
| 3 Months
(starting 12/07/2013, maturing 11/10/2013) |
30/05/2013 | 09/07/2013 | 91 | 0.35 | 0.35046 |
| 6 Months
(starting 12/07/2013, maturing 10/01/2014) |
30/05/2013 | 09/07/2013 | 182 | 0.50 | 0.50063 |
We ask our clients to maintain a minimum cash balance of £10,000 in their account to cover any short term trading needs. Cash over and above this amount can be switched into our fixed rate offers. The minimum investment is £1,000.
Please remember, you won't be able to invest the money or use it to provide retirement benefits for the term you choose, so please only invest money you are certain you won't need in the interim. Please don't choose a Fixed Rate Cash Offer if you are planning to retire during the term.
You'll earn interest at our standard variable rate until the start of the fixed offer term. The interest from these fixed rate offers will be credited, and the capital available to reinvest, on the date of maturity - at which stage you'll start to earn interest at our normal variable rates on any uninvested cash.
How to apply for a Fixed Rate Cash Offer
Before investing please read the Key Features of the Fixed Rate Cash Offer.
To invest existing money, log in to your account and select your Vantage SIPP, click on the Cash tab, select the Fixed Rates option and follow the onscreen instructions.
If you wish to invest new money, please start a SIPP or top up your SIPP online and select your chosen Fixed Rate Cash Offer as your investment choice.
Standard variable interest
If you want to have some cash in your SIPP ready to invest, you can earn tax-free interest at our variable rate. The higher the cash balance, the higher the interest you earn.
Base rate since 05/03/2009: 0.5%. All rates are variable unless stated otherwise.
| Account Balance | Gross % for this tier only† | Net % for this tier only† | AER % for this tier only† |
| £50,000 + | 0.25 | 0.20 | 0.25 |
| £7,000 - £49,999.99 | 0.10 | 0.08 | 0.10 |
| £1,000 - £6,999.99 | 0.05 | 0.04 | 0.05 |
| £0 - £999.99 | 0.00 | 0.00 | 0.00 |
† Note: Interest is tiered within bands so you will currently receive 0% on the first £999.99, 0.05% (gross) on the amount above £1,000 and below £6,999.99, 0.10% on balances above £7,000 and below £49,999.99 etc. These tiered rates should not be directly compared to the AER, gross or net interest rates of accounts which are not tiered or have a different tier structure.
If you hold cash balances in more than one Vantage account (i.e. a Vantage Stocks & Shares ISA and a Vantage Fund & Share Account) these will be considered separately when calculating the tiered interest.
Annuities
| Annuity quotation: | No charge |
| Annuity purchase: | No transfer-out charge if purchased via Hargreaves Lansdown, otherwise £150 + VAT. Annuity purchase will generate a commission or fee payment to Hargreaves Lansdown, which will be shown on your annuity quotation. |
Income drawdown
| Income drawdown |
Flexible drawdown | |
| Starting drawdown: | No charge | £295 +VAT |
| Each GAD calculation: | £75 +VAT | N/A |
| Regular income payments: | No charge | No charge |
| Alter payment amount/frequency: | £10 +VAT | £10 +VAT |
| One-off payments: | £25 +VAT | £25 +VAT |
For full cost details see our Terms & Conditions.
Important information
The above fees exclude the cost of any advice you may require. If you require advice, you would agree this cost separately with an adviser.
If you have more than one SIPP account (for example, an account from which you have not taken an income and an account in drawdown), any charges applied to those accounts will be treated separately.
Important information
A SIPP is a type of pension for people comfortable making their own investment decisions about their retirement. Investments go down in value as well as up so you could get back less than you invest. The rules we refer to are those that currently apply; they could change in the future but you cannot normally access the money until at least age 55. Tax reliefs depend on your circumstances. This website is not personal advice, if you are unsure of an investment’s suitability you should seek advice.
4
Latest investment ideas
Liontrust Macro Equity Income
Interest rates might be low, but equity income funds can offer a healthy starting level of income which has the potential to rise significantly over time. We believe this fund is an excellent choice in the sector, and currently yields 3.1% (variable and not guaranteed).
Newton Asian Income
Growing consumer demand in the dynamic economies of South East Asia could fuel the next phase of their economic expansion. This fund focuses on profitable businesses that rewards their investors with dividends, and currently yields 4.1% (variable and not guaranteed).
First State Global Listed Infrastructure
Good infrastructure is essential to grease the wheels of economic development. This fund focuses on core industries, mainly within the more developed economies of the West. It is managed by a well-resourced and experienced team.
M&G Inflation Linked Corporate Bond
This fund could be a good option for investors looking to maintain the spending power of their capital, but who are concerned about stock market volatility. It aims for a combined return from income and capital growth in excess of the rate of inflation.
Voted 'Best SIPP Provider' six years running.
