• To help you save for your retirement, taking advantage of the tax privileges available.
• To provide benefits in retirement for you.
• To enable you to transfer your existing pension benefits into a SIPP.
• To enable you, with the help of your Adviser, to direct how you would like your pension savings to be invested in a wide range of different types of investments.
• To provide lump sum and pension benefits for your dependants following your death.

• To pay contributions, either single or regular, within HM Revenue & Customs (HMRC) limits for tax relief, and/or transfer existing pension benefits into your SIPP. There is no penalty for ceasing contributions.
• To determine the most suitable investment strategy for you.
• To review your contribution levels, investment strategy and benefit levels (under income withdrawal) regularly.
• You must normally wait until you reach age 50 (55 from April 2010) before taking any benefits.
• To maintain an ongoing relationship with an Adviser registered with us.
• To comply with the SIPPcentre Terms and Conditions and to pay the SIPP Charges set out on our website.
• To notify us immediately of any changes to your personal circumstances which might affect your SIPP, including your eligibility for tax relief on your contributions or to receive benefits.

Below is a brief summary of some of the risks that you may wish to consider.

• By transferring other pension benefits into your SIPP, the amount you receive may alter, or you may be giving up the right to guarantees in the form of benefits and also the level of increases that will be applied to your pension in future.
• You may be giving up the right to receive a terminal bonus on with-profit pension plans.
• A penalty may be applied to your existing pension plan if it is transferred.
• You should speak to your Adviser if you are considering transferring existing pension benefits into your SIPP.
• During the transfer process there may be times when your benefits are restricted to being held as cash rather than invested, or vice versa. At these times there is a risk that your pension funds may be at risk from, or unable to take advantage of, movements in investment markets. You should discuss the options available with your Adviser as we cannot accept any liability for losses that may occur during the transfer process.

• The value of investments can fall as well as rise and is not guaranteed. You may get back less than the amount invested.
• Past performance should not be seen as an indication of future performance.
• You will be able to deal in a range of investments each of which carries a different level of risk.
• If you have a smaller fund, or deal excessively, the value of your SIPP may be eroded and the costs may be disproportionate to the value of your SIPP.

It is a personal pension scheme that allows you to invest in a wide range of investments. For more information on the investment range available under the SIPPcentre SIPP (see ' What can I invest in? ' below).

You can have a SIPP regardless of your employment status. You can take out a SIPP if you are:

• employed;
• self employed;
• a pensioner;
• a carer;
• in full time education; or
• unemployed.

A SIPP can be established for a child under the age of 18, by a parent or legal guardian.

Stakeholder pensions are relatively simple pension plans for which the Government has set minimum standards to be met by providers covering areas such as charges, minimum payment levels and terms and conditions.

Stakeholder pensions are generally available and may meet your needs at least as well as a SIPP. If you are in any doubt about the suitability of a SIPP you should contact your Adviser.

The SIPP can accept transfer payments including the value of protected rights of contracted out benefits. However , the SIPP cannot accept "minimum contributions" from HMRC to enable you to contract out of the State Second Pension on an ongoing basis.

The SIPP charges are published in the Charges & Rates section of our website.

All applications must be submitted, on your behalf, by an Adviser who has registered with us. For further details please contact your Adviser.

You can pay personal contributions into your SIPP. In addition, contributions can be paid by another person on your behalf (e.g. by your spouse, parent or grandparent).

All contributions paid by you, or on your behalf (except those paid by an employer) are payable net of basic rate income tax (20% for 2008/09). We will then reclaim the basic rate income tax from HMRC. As an example, if you pay a net contribution of £800 then we will reclaim £200 from HMRC and credit it to your SIPP cash account.

If you are employed, your employer can also pay contributions into your SIPP. All employer contributions are payable gross.

Single lump sum contributions can be paid by cheque or electronic transfer. Regular monthly contributions must be paid by direct debit.

Once your SIPP is established you can arrange to pay future single contributions and/or increase/decrease your regular contributions at any time, subject only to the minimum contribution levels described below.

We will not accept any contributions after you reach age 75.

We will not accept "minimum contributions" from HMRC to enable you to contract out of the State Second Pension.

The minimum single contribution is £1,000 (gross). If a transfer payment is to be paid into your SIPP there is no requirement to pay contributions.

It is very important to note that if you have registered with HMRC for enhanced protection (for pension rights built up before 6 April 2006) the payment of any contribution to your SIPP will lead to the loss of this protection.

For each tax year, you will get tax relief on contributions paid by you, or on your behalf, of up to the higher of:

• £3,600 (the Basic Amount); and
• 100% of your relevant UK earnings.

If you do not have any UK earnings you can still pay a contribution of up to £3,600 a year and receive basic rate tax relief (your contribution will be payable net of basic rate income tax at 20% (2008/09 tax year) i.e. you will pay £2,880).

You will receive tax relief at your highest rate of income tax on all member contributions paid into your SIPP either by you, or on your behalf. We will reclaim basic rate tax for you from HMRC and credit it to your SIPP cash account and you can claim any higher rate relief via self assessment.

If you are paying contributions on behalf of a child, or someone else (e.g. your spouse), then we will still reclaim the basic rate tax from HMRC and credit it into their SIPP cash account. You will not be eligible to claim higher rate tax relief on these contributions.

Tax relief will be credited to your SIPP cash account after between 6 and 11 weeks, depending upon when your contribution is paid.

You may only pay contributions up to the limit for tax relief referred to above. You must tell us within 30 days if you are no longer entitled to tax relief on your contributions.

Any contributions from your employer do not count against the limit for tax relief referred to above. Your employer will normally receive tax relief on the contributions it pays on your behalf and you will not normally be taxed on these contributions.

Single contributions can only be paid by cheque or electronic transfer. Regular contributions must be paid by direct debit. If you wish to pay contributions by electronic transfer, please contact your Adviser who will notify you of our requirements.

We may accept contributions in the form of commercial property. Please contact your Adviser for further details.

The annual allowance is the mechanism by which HMRC restrict tax relief on large contributions.

The annual allowance is £235,000 for 2008/09 and will increase each year as set out below:

It may increase in future years but this is not guaranteed.

If for any 'pension input period' ending in a tax year, the total of:

• contributions to registered pension schemes paid by you, or on your behalf (including any paid by an employer); and
• the increase in the value of your benefits under any final salary schemes

exceeds the 'annual allowance', you will have to pay a tax charge of 40% on the excess. A factor of £10 per £1 p.a. of pension will be used to value the increase in benefits under a final salary scheme.

For the purposes of your SIPP, the pension input period will always coincide with the tax year i.e. end on 5 April, unless you notify us that you wish it to end on a different date in any tax year.

If you think that you may be affected by the annual allowance you should consult your Adviser.

There will be no test against the annual allowance in the year in which you take all of your remaining benefits under your SIPP.

You will be able to continue paying contributions, subject only to the limits on the amount of contributions that will receive tax relief as outlined above.

Yes. You can transfer benefits from any UK registered pension scheme into your SIPP regardless of whether you are currently UK resident or not.

If the transfer includes any protected rights or contracted out benefits, the value of these benefits will be kept separate from any other benefits under the scheme and will provide protected rights benefits. Your protected rights will be held in a separate Bank Of Scotland cash account until the Government removes the investment restrictions on these benefits. It is anticipated that this will be in October 2008.

You can transfer your existing pension benefits into a SIPP even if you have commenced income withdrawal (unsecured pension or alternatively secured pension) under the transferring scheme.

If income withdrawal has commenced under the transferring scheme, the value of those benefits will be held separately from the other benefits under your SIPP and will be subject to the same minimum and maximum income limits and review period as under the transferring scheme.

Please note that you, or your Adviser, will be responsible for arranging the transfer from the transferring scheme.

Yes, although any investments transferred 'in-specie' must be an acceptable investment for us (for further information see the Investment Fact Sheets which are available from your Adviser and ' What can I invest in?' below). If the portfolio includes unit trusts or OEICs these must be held via a nominee account.

It is not currently possible for protected rights to be transferred in specie although this restriction will be removed when the Government removes the investment restrictions on protected rights.

Please ask your Adviser to e-mail us details of your portfolio of investments under the transferring scheme and we will inform your Adviser of our further requirements.

By arranging with your Adviser to complete a Transfer Form and following the instructions set out on the Form.

You can transfer the value of your SIPP to another UK registered pension scheme or qualifying recognised overseas pension scheme, at any time. Transfers including protected rights can only be made to another "appropriate" scheme or a scheme that is contracted out of the State Second Pension.

If you have already designated some or all of your SIPP to provide unsecured pension, or alternatively secured pension, then the full value of those benefits must be transferred at one time. If you have uncrystallised funds under the SIPP (i.e. no benefits have commenced) you can choose to transfer all, or only a part, of those funds to another pension scheme.

If the transfer is to an overseas scheme a check against your lifetime allowance must be carried out before the transfer payment is made (see ' How does the Lifetime Allowance work? ' below) and so it is possible that a lifetime allowance charge may apply.

The transfer can either be in the form of a cash payment (in which case you will have to sell all of the investments held under your SIPP before the transfer is completed) or by an in-specie transfer of the SIPP assets to the receiving scheme.

The transfer will always be made direct to the trustees or administrator of the receiving scheme.

The SIPPcentre SIPP has been designed to combine the wide investment flexibility of a traditional SIPP with a competitive fee structure that reflects the investment option(s) that you use.

We offer various options through which you can invest all or part of your SIPP funds with our panel of Investment Partners. We also give you the flexibility to invest funds either through off panel investment managers or in our wide range of permitted off panel investments e.g. commercial property. However, please note the restriction on the investment of protected rights under What can my protected rights be invested in?

You can invest with our panel of Investment Partners through the following options:

You have access to over 1,900 unit trusts and open ended investment companies (OEICs), more than any other UK Fund Supermarket, in addition to UK equities and a wide selection of overseas equities, gilts and corporate bonds.

Your Adviser places orders on your behalf, either online or over the telephone.

A) Other fund supermarkets
Choose from one of our alternative fund supermarkets.

B) Discretionary fund managers
You can appoint one of our Investment Partners to manage your SIPP, either on an advisory or discretionary basis. The range of investments available and charges varies by Investment Partner.

You can deal in UK shares, unit trusts and OEICs on an execution only basis, either online or over the telephone.

The investment range is, in all cases, subject to the SIPPcentre Terms and Conditions and HMRC regulations.

You can use all, or part, of your SIPP to purchase stocks, shares and unit trusts with one or more off panel investment managers of your choice.

It is not possible for you to hold these investments directly. You must hold them through an investment manager (whether panel or off panel). Your Adviser will be able to assist in opening an account.

You can also use your SIPP to invest in a wide range of investments including:

• Commercial property;
• Insurance company funds;
• Bank and building society accounts; and
• Other investment platforms.

If you make use of the off panel investment options you are still able to invest with one or more of our Investment Partners if you wish.

The options above will not be available for protected rights until the Government removes the investment restrictions that apply to protected rights. Until that point (expected to be October 2008) any protected rights must be held in a separate Bank Of Scotland cash account.

The interest rate applied to this account will be based on the balance held in this account, not combined with the cash account for non-protected rights.

You can obtain a valuation of your SIPP at any time by logging on to the SIPPcentre website or contacting your Adviser.

We will send you regular statements detailing all transactions on your SIPP cash account.

If you hold an account with one of our panel of Investment Partners, they will also send you regular information on your investment account. You may also be able to obtain this information via their website.

Yes. The investments available will depend on the investment option, and Investment Partner, chosen by you. Investment restrictions currently apply to protected rights held in your SIPP. Please see What can my protected rights be invested in? above. However, your SIPP cannot invest directly in:

• residential property;
• private (unquoted) company shares;
• personal chattels (e.g. works of art, cars etc.);
• loans; or
• any activity that could be regarded as trading.

There is no limit on the benefits that may be provided for you under your SIPP. However, if the total value of your pension savings, under all registered pension schemes, exceeds the 'lifetime allowance' (£1.65m for 2008/09) then there will be an additional tax charge, called the lifetime allowance charge, on the excess. For more information on the lifetime allowance and the lifetime allowance charge please see ' How does the lifetime allowance work? ' below.

You can commence benefits, irrespective of whether or not you continue to work, at any time between age 50 (55 if benefits commence after 5 April 2010) and age 75. It may be possible to commence benefits earlier if you are in serious ill-health.

If, as part of a block transfer, you transfer pension rights to your SIPP from another registered pension scheme, under which you are entitled to commence benefits earlier than age 50 (i.e. because you are in a specialised occupation for which a lower minimum pension age had previously been agreed by HMRC), you may be able to take benefits from that earlier age.

You will need to contact your Adviser who will discuss your options with you and provide the necessary forms.

You may choose to take benefits from all, or only a part, of the uncrystallised funds under your SIPP. This will allow you to phase your benefits to suit your personal circumstances although you should consider the additional charges that will apply.

You must complete a Benefit Form to tell us how much of your SIPP is to be designated to provide your benefits and how you want those benefits to be paid. The form will also ask you about your available lifetime allowance and any protection you have for benefits built up before 6 April 2006.

Yes. You can have a pension commencement lump sum up to the lower of:

• 25% of the value of the fund designated to provide your benefits; and
• 25% of your unused lifetime allowance.

This lump sum is currently payable tax-free.

If you have registered with HMRC for enhanced or primary protection, or have a protected lump sum arising from a block transfer to your SIPP, then you may be entitled to a pension commencement lump sum of more than 25%. We will ask you to provide details of any protected lump sums on the Benefit Form. Please note that you will not be able to take more than 25% of the value of any protected rights as a pension commencement lump sum.

You cannot take a pension commencement lump sum with the intention of recycling some, or all of it, either directly, or indirectly, to fund a significant increase in pension contributions. This is because the lump sum will be treated as an unauthorised payment. You would be taxed on the payment at between 40% and 55%. Your pension fund would also be subject to a further tax charge of between 15% and 40% (depending how much of the tax charge you had paid).

When you receive your pension commencement lump sum, the remaining fund will be designated to provide you with a pension in one of two ways:

Your unsecured pension fund remains invested and you draw an income from the fund (income withdrawal), up to the maximum level set by legislation.

There is no minimum level of income, so you can elect to receive a 'nil' pension, if you wish.

You can choose to take a regular income and/or one-off pension payments to suit your individual circumstances.

The maximum level of annual income is set at 120% of the Government Actuary's Department's (GAD) relevant annuity rate, based on your age, and the value of the unsecured pension fund at the date funds are first designated to provide unsecured pension and at each subsequent review.

The maximum income level will be recalculated every five years. You can choose to designate additional uncrystallised funds to your unsecured pension fund at any time and this will normally trigger an immediate review of the maximum income level and also a further check against the lifetime allowance (see ' How does the lifetime allowance work? ' below).

You can elect to have the maximum income level reviewed at each anniversary of the date funds were first designated to provide unsecured pension. You must make the election in advance of the relevant anniversary.

You can choose to purchase a lifetime annuity with some, or all, of your unsecured pension fund at any time. The purchase of an annuity will trigger a review of the maximum income level and a check against the lifetime allowance.

We will not allow the purchase of short term annuities to provide income from your unsecured pension fund.

Unsecured pension can continue until you reach age 75 by which time you must have secured all of your pension benefits under your SIPP, by either converting your unsecured pension to alternatively secured pension or by the purchase of a lifetime annuity. Alternatively secured pension is a continuation of income withdrawal beyond age 75 (see ' What is alternatively secured pension? ' below).

A further lifetime allowance check will be carried out before an unsecured pension fund is:

• used to purchase a lifetime annuity before age 75; or
• converted to alternatively secured pension at age 75

unless the unsecured pension commenced before 6 April 2006 and no further funds have been added to that unsecured pension fund on, or after, that date.

The value crystallised for lifetime allowance purposes will be the value of the remaining unsecured pension fund less the amounts previously crystallised and designated to unsecured pension.

It is important to note that any unsecured pension funds transferred from other registered pension schemes will be kept separate from any other funds held for you under the SIPP and will be subject to their own limits and review periods.

If your SIPP holds both protected rights and non-protected rights then the maximum proportion of your pension income that can be paid from the protected rights fund is equal to the value of protected rights as a proportion of the overall value of your SIPP. This does not apply where the protected rights and non-protected rights are held in separate arrangements.

Before selecting unsecured pension you should consult your Adviser. You should also read the ' 'Income withdrawal' section under 'Risks' above.

Purchasing a lifetime annuity involves passing the value of your SIPP to an insurance company of your choice who in return will provide you with a regular, taxable, income throughout your life.

The annuity available will depend on the value of your fund and the annuity rates at the date of purchasing the annuity.

The annuity income may increase each year; may be guaranteed for up to ten years (i.e. paid irrespective of whether you are alive) and may continue, normally at a reduced level, to your surviving spouse or dependant.

If an annuity is purchased, you will cease to have any involvement with the investment of your pension fund. This may be a price worth paying if security of income is an important issue.

For protected rights if you have a spouse or civil partner at the date the annuity is purchased, the annuity must provide a spouse's or civil partner's pension of 50% of your pension in the event of your death.

Alternatively secured pension is a continuation of income withdrawal from age 75. As with unsecured pension, your SIPP fund will remain invested and you will be able to choose how much income to withdraw each year between the minimum and maximum limits set by HMRC.

For alternatively secured pension the minimum income which must be taken each year is 55% of the GAD relevant annuity rate for a 75 year old. The maximum income that can be withdrawn is 90% of the GAD relevant annuity rate for a 75 year old.

The minimum and maximum income levels are reviewed annually based on the value of the fund at the review date but using the GAD relevant annuity rate for a 75 year old, regardless of your age at the time.

You can choose to purchase a lifetime annuity with your alternatively secured pension fund at any time.

Before selecting alternatively secured pension you should consult your Adviser. You should also read the ' Income withdrawal ' section under ' Risks ' above.

All pensions paid to you will be subject to income tax. We will deduct the tax due before paying your pension and will account for it to HMRC.

If a lifetime annuity has been purchased, the insurance company will be responsible for the payment of income tax.

The Government has set the standard lifetime allowance at £1.65m for 2008/09 and it will increase as follows:

It may increase in future years, but this is not guaranteed.

Each time new benefits commence ('crystallise') a portion of your lifetime allowance is used up.

Once you have used up your lifetime allowance, any benefits paid above the allowance will be subject to the lifetime allowance charge. If excess funds are used to provide a taxable pension, the lifetime allowance charge is 25% of the excess above the lifetime allowance. Alternatively if excess funds are paid as a lump sum, only available for non-protected rights, called a lifetime allowance excess lump sum, the lifetime allowance charge is 55%. We will deduct this tax charge from your fund and pay it to HMRC before paying your benefits.

If you have built up substantial pension savings before 6 April 2006 and have registered for enhanced and/or primary protection ('transitional protection') with HMRC then this may reduce, or eliminate, any lifetime allowance charge that would otherwise be payable.

The Scheme Administrator will decide who will receive benefits and the form of the benefits, in its absolute discretion. However, it will take into account any wishes you have expressed through the completion of a nomination of beneficiaries. You may complete a new nomination of beneficiaries at any time.

Death benefits will normally be paid as a lump sum but pensions may be provided for a spouse and/or dependant, either under income withdrawal or by annuity purchase.

Lump sum payments on death are normally free of any inheritance tax but we cannot guarantee that this will be the case. You must consult your Adviser if you are unsure.

The Scheme Administrator will decide who will receive benefits and the form of the benefits, in its absolute discretion. However, it will take into account any wishes you have expressed through the completion of a nomination of beneficiaries.

The value of your fund can be used to pay benefits in the form of:

• a lump sum, subject to deduction of a 35% tax charge; and/or
• a pension for your spouse and/or dependant, either by way of an annuity purchase or under income withdrawal.

If your pension is being paid under alternatively secured pension then the full value of your alternatively secured pension fund will be applied to provide pension benefits for your surviving spouse or dependants, either in the form of income withdrawal, or through the purchase of an annuity.

The Scheme Administrator will decide who the pension will be paid to but will take into account any wishes you have expressed by completing a nomination of beneficiaries.

If you do not leave a surviving spouse, or dependant, then the value of your fund may be paid to a charity nominated by you for this purpose. Again, you can complete a nomination of beneficiaries to indicate which charity you would wish to receive benefits.

Any funds paid to a charity, or paid out in pension benefits to your spouse, or dependants, will be exempt from inheritance tax (IHT).

If on your death you have no dependants and have not nominated a charity to receive any remaining fund, then the Scheme Administrator may be able to pay a lump sum to your family or other beneficiaries. This payment will be an "unauthorised payment" and will be subject to very significant tax charges, including IHT.

We will deduct any IHT and any taxes payable by the scheme from your fund and pay them to HMRC before paying any death benefits. Any other tax charges will be payable by the recipient.

If you are considering using ASP, you should consult your Adviser for more information on the benefits that can be paid on your death and the tax charges payable.

Where you are survived by a spouse or civil partner the protected rights must be used to provide a pension for them, either by the purchase of an annuity or through USP or ASP.

If you are not survived by a spouse or civil partner the protected rights will be used to provide lump sum benefits to beneficiaries nominated by you or, in the absence of any nomination, to your estate. The Scheme Administrator does not hold any discretion over who will receive lump sum death benefits from protected rights so it is important that you update your nomination whenever your circumstances change.

Lump sum payments made from protected rights which are uncrystallised or in USP may be subject to inheritance tax (IHT) although it is possible to take steps, such as making your nomination irrevocable, which may reduce the tax liability. Before considering this you should seek specialist IHT advice. If you wish to make your nomination irrevocable please contact us and we will send you the appropriate documents.

Lump sum payments made from unsecured pension funds will be subject to the deduction of a 35% tax charge before payment.

You can make a lump sum payment to a registered charity from protected rights in ASP and this will be exempt from IHT. Any other lump sum payment may be subject to IHT and will also be treated as an "unauthorised payment" and will be subject to very significant tax charges.

If you have purchased an annuity then the benefits payable, if any, will be determined by the terms of the annuity contract.

For protected rights, if you have a spouce or civil partner at the date the annuity is purchased, the annuity must provide a spouse's or civil partners pension in the event of you death.

You have a legal right to cancel your SIPP, if you change your mind. You will have 30 days from the date that you receive our letter confirming the establishment of your SIPP to cancel, if you wish.

Cancellation rights will also apply to any additional transfer payments received. You will have 30 days from the date that you receive our letter acknowledging the transfer to exercise your right to cancel.

You may exercise your right to cancel by writing to us at :

SIPPcentre,
A J Bell Management Limited,
Trafford House,
Chester Road,
Manchester M32 0RS.
Fax No: 0870 240 0513
or by e-mail: enquiry@sippcentre.co.uk

quoting your name and SIPP reference number.

You must state whether you wish to cancel your SIPP, or whether you only wish to cancel a specific transfer. We will acknowledge your notification and confirm what additional information, if any, is required.

If you do cancel your SIPP then we will repay any contributions we have received to the person who paid them.

If you cancel after a transfer payment has been paid to your SIPP we will attempt to repay the amount received to the transferring scheme. However, the transferring scheme may refuse to accept the repayment, or only accept it on different terms from those applying prior to the transfer, in which case we will require your instructions on whether to pay the amount to another registered pension scheme. If we have not received your instructions within the 30 day period we reserve the right to take reasonable administration charges from your SIPP until such time as we are able to make the transfer to another registered pension scheme.

If you do not exercise any of the cancellation rights covered above you will not be able to cancel your SIPP, or any relevant transfer, or your choice to take USP or ASP benefits at a later date. You will, however, be able to transfer your benefits to another registered pension scheme or, if applicable, purchase an annuity.

You will not normally be able to make any investment until the 30 day cancellation period has ended. However, if you wish to make an investment within this period you can choose to lapse your cancellation rights. If you do lapse your cancellation rights then you will not be able to cancel your SIPP and have a refund of contributions, or have the transfer payment repaid to the transferring scheme, after the effective date of the lapse of your rights.

You may lapse your cancellation rights by giving us notice in writing to the address shown above, or by giving instructions to make an investment within the 30 day cancellation period. Please consider carefully before giving us any such investment instructions because by doing so you will be lapsing your cancellation rights and you will not be able to cancel your SIPP after those instructions have been received.

On the first occasion that you choose to take unsecured pension (USP) or alternatively secured pension (ASP) you will have the right to cancel the option within 30 days of the date that you crystallise benefits (USP) or your 75th birthday (ASP). If you do cancel you will have to return any pension commencement lump sum or income that has already been paid to you. For ASP you will then have to purchase an annuity or transfer the fund to another pension provider.

If you establish a SIPP with us you will become a member of the Sippdeal e-sipp, a personal pension scheme registered with HMRC under Chapter 2 of Part 4 of Finance Act 2004. The scheme is an appropriate personal pension scheme.

The scheme is governed by a trust deed and rules, as amended from time to time. This Key Features Document summarises the main provisions of the rules and of the legislation that applies to registered pension schemes. However, in the event of any discrepancy between the Key Features and the trust deed and rules the trust deed and rules will prevail. A copy of our Scheme Rules is available from your Adviser on request.

Please read these Key Features and the SIPPcentre Terms & Conditions carefully before completing the application form.

These Key Features describe the main forms of authorised payments that can be paid by a registered pension scheme. We cannot be compelled to make any payment that is not authorised by Finance Act 2004.

We are required to report any unauthorised payments to HMRC. If an unauthorised payment is made, then you, or the person who receives the payment, will be subject to an additional tax charge of between 40% and 55% of the payment. Your SIPP will also be subject to a further tax charge of between 15% and 40% of the payment, depending on the amount of the tax charge that you have paid. In extreme circumstances, HMRC may de-register the SIPP in which case a further tax charge of 40% of the value of the SIPP will be payable to HMRC.

A J Bell Management Limited is the Scheme Administrator of the Sippdeal e-sipp and is responsible for the day to day administration and management of the scheme. Sippdeal Trustees Limited, a wholly owned subsidiary of A J Bell Management Limited, is the trustee of the scheme.

A J Bell Management Limited is part of the A J Bell Group, one of the UK's leading SIPP administrators with assets under trusteeship exceeding £5bn.

A J Bell Management Limited is authorised and regulated by the Financial Services Authority. Sippdeal Trustees Limited does not conduct any regulated activities and is, therefore, not regulated.

Bank of Scotland is the provider/establisher of the Sippdeal e-sipp. The Bank will satisfy any statutory obligations that it may have from time to time, as provider/establisher of the Sippdeal e-sipp.

Yes. The Financial Services Compensation Scheme (FSCS) has been set up to deal with compensation, if firms are unable to meet claims made against them.

The amount of compensation available under the FSCS depends on the type of business and the circumstances of the claim. Further information about the compensation arrangements is available from the Financial Services Compensation Scheme (www.fscs.org.uk).

A copy of our Terms and Conditions will be supplied to you by your Adviser when you apply. You must read them carefully before signing your Application Form.

A copy is also available on our website or from your Adviser upon request.

Neither A J Bell Management Limited nor Sippdeal Trustees Limited can provide any advice in relation to:

1. the suitability of a SIPP in your circumstances;
2. the level of contributions you can, or should, pay;
3. whether you should transfer existing pension benefits into your SIPP;
4. which stocks and shares or other investments to buy/sell;
5. whether to buy an annuity or elect for income withdrawal;
6. whether, or not, you should apply for transitional protection for pension rights built up before 6 April 2006; or
7. tax or financial services related matters.

If you need any assistance then you must contact your Adviser.

Your Adviser will give you details about the cost of advice. The amount may depend on the size of your investment and period for which you require advice.

You must contact your Adviser although more detailed information on the SIPP and the various investment options is available on our website www.sippcentre.co.uk.

We offer an Adviser Helpline that is only available to Advisers.

Please write to the Compliance Officer in the first instance at:

If you are not satisfied with our response, you may refer your complaint to the Pensions Ombudsman, if your complaint concerns the administration of your SIPP.

Help is also available from The Pensions Advisory Service (TPAS) who can advise you on how to complain and may be able to sort the matter out, without the need for the Ombudsman to get involved. The address for both the Pensions Ombudsman and TPAS is as follows:

All other complaints may be referred to:

Making a complaint will not affect your right to take legal proceedings.

The information contained in this Key Features Document is provided based on our understanding of current law, practice and taxation which may be subject to change.

Full details of the legally binding contract between you and A J Bell Management Limited are included in the SIPP Terms and Conditions. The law of England and Wales will apply in all legal disputes.

If you would like a copy of this or any other item of our literature in large print, Braille or in audio format, please contact us on 0870 758 8859 or by e-mail enquiry@sippcentre.co.uk.

All our literature and future communication to you will be in English.