Fidelity SIPP
Fidelity is one of the UK's largest investment fund managers with over 660,000 customers in the UK. As at 30th June 2011 Fidelity held assets worth $255.9 billion.
The Fidelity SIPP is provided by Standard Life and you can monitor and manage your retirement savings alongside your other Fidelity holdings on the fund supermarket platform.
Consolidate and save – your retirement fund and investments all in one place working harder for you.
We only take a fee of 0.25% p.a. for arranging your SIPP and do not charge initial commission. Fidelity take an annual administration charge of £291 (including VAT) and also levy an initial charge of £116 (including VAT) to cover the costs of setting up a new SIPP. All of these charges are taken directly from your pension fund.
**Special offer**
If you are planning to transfer funds of £150,000 or more to a new SIPP, Fidelity will waive the annual administration for the lifetime of your SIPP.
There are no initial charges - through CommShare - on any funds and switches are free. With fund rebates of up to 0.50% paid back into your pension, this SIPP could well offer you great value for money, especially if your pension fund is more than £150,000.
The features of the Fidelity SIPP are as follows:
| Pension Type |
SIPP |
| Fund companies |
70 |
| Funds |
1,200 |
| Establishment charge |
£116 |
| Annual administration charge |
£291 p.a.
Special offer: Fidelity are currently waiving the annual administration charge for the lifetime of the policy if funds paid into the SIPP are in excess of £150,000 |
| Switching charge |
Nil |
| Transfer in charge |
Nil |
| Minimum single contribution or transfer value |
£10,000 gross |
| Minimum regular contribution |
£300 gross p.m. / £3,000 gross p.a. |
| Employer contributions allowed? |
Yes |
When you reach retirement you can decide to take all of your benefits at the same time, or take only some of the benefits, allowing you greater flexibility. There are charges for taking benefits.
Download Fidelity SIPP Application Forms and Key Features
You can invest by paper application – regular premiums from £300 gross p.m. and / or single gross payments / transfers of at least £10,000.
First, please make sure you read CommShare’s Key Facts document and Terms of Business.
Alternatively, request a Fidelity SIPP application pack by post – click here
Please send your completed application forms to CommShare, using our FREEPOST address. If you send them directly to Fidelity they won't accept them.
Transfer existing pensions into your Fidelity SIPP
You can transfer the following types of pensions into the Fidelity SIPP via CommShare.
| Other Personal Pension Plans |
Free Standing Additional Voluntary Contribution Plans (FSAVCs) |
| Stakeholder Pensions |
Paid up Group Personal Pensions or Group Stakeholder Pensions |
| Self Invested Personal Pensions |
Retirement Annuity Contracts (RACs) |
You cannot transfer occupational pensions into the Fidelity SIPP via CommShare and will need to seek appropriate advice from a qualified financial adviser if you wish to consider transferring benefits accrued in occupational schemes. These include:
| Additional Voluntary Contribution Plans |
Occupational Money Purchase Pensions (CIMP / COMP) |
| Executive Pension Plans (EPPs) |
Defined Benefit Schemes (Final Salary Scheme) |
If you are unsure as to whether your existing plan is a personal or an occupational plan, please contact us and we will be happy to help you.
You will also need to find out whether there are any transfer penalties on your existing pension, as these can sometimes be prohibitively high. Second, make sure that you will not lose any valuable benefits, such as guaranteed annuity rates or guaranteed investment growth rates, by transferring away from your existing arrangement.
If you wish to transfer any pensions, we can arrange for all of the correct paperwork to be sent to you. All you will need to do is sign and return to us along with your application forms in a FREEPOST envelope.
A word of warning: Please note that once you have transferred your pension, especially if it is more than a few years old, you will probably not be able to transfer your fund back into the same pension with the same company.
How to switch between your Fidelity SIPP funds
If you want to switch between Fidelity SIPP funds online login or register here.
Remember: that you cannot withdraw funds from your pension until you retire, the earliest you can retire and take benefits from a pension plan is currently 55. A pension is a long term investment and the funds held in your pension may go down as well as up. Remember tax reliefs may change depending on legislation and/or your personal circumstances. We are unable to offer you advice and if you are at all unsure, you should seek personal advice from a suitably qualified financial adviser.