INVESTMENTS
ALTERNATIVE CASH DEPOSITS
Investments may be made into alternative deposit accounts in addition to the SIPP bank account with Bank of Scotland. In order to be deemed acceptable for our SIPPs the account must meet the following criteria:
* Accounts held within the Suffolk Life SIPP (deed poll) and protected rights benefits of the Suffolk Life MasterSIPP are held in the corporate name of Suffolk Life Annuities Limited. Accounts held within ordinary pension benefits (non-protected rights) of the Suffolk Life MasterSIPP are held in the trustee name of Suffolk Life Trustees Limited.
If you are interested in a particular account and believe it meets our criteria, please email the allowable investments inbox with the full details where we will check the account and respond accordingly.
There is a fee of £75 for each account held, and this fee will also be applied for a ‘roll over’ of a maturing account. Therefore if short term accounts (30 days for example) are established and repeatedly rolled over, £75 would be charged each time.
Whilst there are many attractive high interest deposit accounts available in the market, not all are able to accept corporate/trustee applications or pension monies.
Suffolk Life do not permit the holding of alternative deposit accounts other than those with a fixed term. This criteria is set for a number of reasons, including:
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DISCLAIMER
The information on this page is for advisers only and should not be relied upon by individuals.