We are committed to delivering a cost effective, personal and high quality pension administration service to meet the needs of all our clients.
In this document we have set out our normal service standards in working days for our SIPP arrangements. Note that we cannot guarantee we will meet our service standards.
Processing a new application – 2 days
Processing transfer forms – 2 days
Illustrations – 1 day
Annual Review – within 5 working days of renewal date
Valuations – 2 days
Scheme Investments – Property/Land
Agreeing suitability of property/land – 2 days
Solicitor instruction – 2 days
Surveyor instruction (if required) – 2 days
Agreeing funding and suitability of borrowing – 2 days
Lender instruction – 2 days
VAT election – 2 days
Buildings insurance (if instructed) – 2 days
Completing legal documentation – 2 days
Transferring funds for purchase – same day and at least one working day prior to completion
Scheme Investments – Other
Suitability and funding check – 1 day
Completing documentation – 1 day
Purchase of quoted equities – same day as soon as practically possible
Cheques Banked (i.e. contributions; transfers; rent) – same day*
Paying out cheques and transfers – same day
Retirement Benefit Calculation and lump sum payment – 2 days
Establishing / amending / ceasing income payment – 2 days
Pension payroll – 15th or 28th day of the month
*Whilst cheques are typically banked the same day, payments made directly to our trustee clearing account can take up to 3 working days to be identified and added to your SIPP funds. Payments with an incorrect or missing reference can take longer than this to allocate.
Note that service times generally require each step to be completed in the correct order. For instance, obtaining a valuation may take two working days, calculating benefits a further 2 working days and then setting up an income payment may take another 2 working days. Where possible we aim to shorten the overall timescales but we cannot guarantee this.