SIPP Establishment & Administration
1. A 50% discount applies for SIPPs established for children (under the age of 18).
2. No charges apply for the sixth and subsequent transfers. Additional charges will apply for in-specie transfers as set out in Note 10.
3. Payable in arrears at the end of March, June, September and December. The fund value is the net asset value of the SIPP.
4. No charges apply for the movement of money to, or from, your SIPP cash account to any of our Investment Partners. The investment management, or dealing charges made by the Investment Partner are in addition to the SIPPcentre charges shown in this Schedule and are set out on the Investment Fact Sheet for the Investment Partner. If any of the SIPP fund is invested outside of our Panel Investment Partner Options, additional administration charges will apply.
5. Payable when transferring any assets in-specie between Investment Partners.
6. A separate charge will be made for each transfer payment made to another registered pension scheme. Additional charges will apply for in-specie transfers as set out in Note 10. Transfers to a qualifying recognised overseas pension scheme will be charged an additional £175.
7. No additional charges will be made for using more than one Investment Partner.
8. A charge will apply for each transaction, e.g. purchase, sale, switch or top-up of a specific investment; set up, top-up or closure of an additional bank or investment manager account; movement of money to, or from, your SIPP cash account. Separate charges apply for property investments as set out in the Property section.
9. Applies if, at any time during the quarter, any investment (including Trustee Investment Plans and Property) is held outside of our Panel Investment Partner Options. We reserve the right to increase this charge by an additional £10 per asset if more than 5 investments are held Off Panel.
10. Unless advised otherwise, charges for an in-specie transfer from, or to, another registered pension scheme will be our standard transfer charge plus

• transfer of an investment account, within the terms of a discretionary or non discretionary investment agreement, where all assets are held in nominee name - £225 per account;
• assignments of insurance policies - £225 per deed of assignment; and
• property transfers are charged for as a property purchase (see Property section).

These additional in-specie charges will not apply if the assets are to be transferred to one, or more, of our Panel Investment Partner Options.

Benefits
11. The annual income withdrawal charge will become payable immediately funds are designated to provide USP or ASP, even if you elect to take "nil" income.
12. No additional charge is made when the first funds are designated to provide unsecured pension, or funds are designated to alternatively secured pension at age 75.
13. Payable when any pension payment is made as a one-off outside of our standard monthly payment process.

Property
14. Non-standard administration will be charged at our prevailing charge out rate (available on request). Any work relating to contamination or environmental issues will be subject to an additional charge.
15. VAT registration and ongoing VAT administration is included in the property purchase and quarterly administration charges. These charges all apply on a per property basis.
16. Applies as a one off charge per member of the group.
17. Applies when a loan is fully repaid, whether or not on sale.

In addition to our charges, all disbursements must be paid from the SIPP. Disbursements will include stamp duty land tax; land registry fees; search fees; and solicitor's, surveyor's and lender's fees. It is not possible to provide accurate estimates of these costs, which will be advised to you when you appoint the professional advisers on behalf of the SIPP. You are free to choose your own professional advisers, e.g. solicitor, surveyor, and commercial lender. The member or his appointee can act as property manager. If the chosen party is unfamiliar with SIPP documentation there may be further charges to deal with any additional queries that arise.

General

• All charges are subject to VAT in addition (currently 17.5%).
• All charges are due to A J Bell Management Limited and will be deducted from the SIPP cash account.
• A CHAPs fee of £25 + VAT per payment will be payable for all transactions paid by CHAPs.
• There is no additional charge for payments made by BACS or by cheque.
• Bank charges may apply if a regular payment such as a Direct Debit is rejected due to insufficient funds.