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SCHEDULE OF ADMINISTRATION FEES

This schedule sets out the fees charged by Independent Pension Specialists Ltd for dealing with administration on behalf of Clients. Its purpose is to enable you to be clear about the costs you may incur for the services you require. You should also refer to the Keyfacts about our Services and Costs document which details the cost of our advisory services. This document deals purely with non-regulated administration fees, not advisory, planning or implementation fees.

Ongoing Services Clients

If IPSL already have in place an agreement with you to provide Ongoing Services and you already meet the annual minimum fee of £500 for this, then you will pay Zero additional administration fees. This fee schedule will NOT apply to you.

Legacy Commission Clients

If you have not transacted business directly with IPSL in the last 4 years you may still have in place a policy through us on which a regular commission payment may still be being made. This may be the case even if your plan was established several years ago. We will take such commission payments into account when calculating the fees payable and will waive all Administration fees when the annual commission exceeds £500.

All Clients, including Legacy Clients, may elect to move onto an agreed Ongoing Services basis thereby removing the Administration fees payable. In all other cases the fees as detailed below will be payable should you wish us to act on your behalf.

Payment Options

You can pay the fees by Bank Transfer (BACS), Standing Order or cheque depending upon which payment option we agree.  Other payment methods can be discussed.   Alternatively, providing that you agree with the product provider you can ask the provider to deduct our fee from your pension and arrange for them to pay us directly. This will reduce the amount of your pension by the amount of our fee. For example if your pension is £30,000 and our fee is £500 only £29,500 would remain. It is not always possible for our fees to be facilitated by the pension provider.

Please refer to table below:

Standard Fees

Cashing in a Pension in one go (Personal Pensions only) 1.5% of the fund value (min of £750 per plan)
Arranging a single lump sum payment (From an existing Personal Pension) £500 per payment
Arranging a single GAD payment (From an existing Drawdown Plan) £250 per payment
Setting up a regular GAD income withdrawal(From an existing Drawdown Plan) £350
Tax Free Cash / Carry forward Calculations £275
Dealing with a Death Claim £675
Plan tracing £125 per plan
Providing Plan / Fund information £75 per plan / fund
Change of death benefit nomination £125 per plan
Change of personal details £35
Providing copy documentation £35

 

Additional Fees

Extra fees will be payable for additional services not covered by the standard fees above. These fees will be agreed in advance and will be charged as and when the additional work is carried out.

We reserve the right to amend our fees at any time and to charge more for complex cases or when dealing with multiple plans.

Log No. IPSL2015149C 2.11.2015

 

Contact us
Please complete the form below for any general query.
Please enter your name.
Please enter your email.

To view our Client Privacy Statement click here