We are delighted to announce enhancements to our solicitors panel, including the addition of three new firms.
Our panel has been established to help customers and their advisers with the process of dealing with commercial property and land transactions. Whilst use of panel firms remains optional for those who wish to choose their own firm, experience tells us that appointing a solicitor with the required expertise and experience of dealing with pension scheme trustees, with a commitment to high quality service, is likely to make these transactions go much more smoothly.
The updated panel now consists of six firms shown in alphabetical order below:
| Firm: | Property or land location: |
| Burnetts | England and Wales |
| Coffin Mew (NEW) | England and Wales |
| Douglas-Jones Mercer | England and Wales |
| McKees (NEW) | Northern Ireland |
| Morton Fraser | Scotland, England and Wales |
| Trethowans (NEW) | England and Wales |
In addition to appointing new firms, we have also extended the indicative fees to cover additional standard transactions.
As more customers are choosing to transfer commercial property and land held in other pension schemes to us, we have added indicative fees for in-specie property transfers on a limited due diligence basis.
We have also taken the opportunity to include an indicative fee for the creation of a new long leasehold, as may be required when splitting freehold title.
The updated Guide to Panel Solicitors contains more information and is now available in the literature and forms section of our website.
If you have any queries, please contact our Property Team or the firms directly, using the contact details in the guide.
March 22nd, 2021
The Minerva SIPP can invest in a wider range of assets including commercial property and land, on an individual or group basis. Any combination of permitted investments may be made within a Minerva SIPP including deposit accounts, DFM, open market platform/wrap accounts, stockbroker accounts and trustee investment plans, all held together within the same SIPP.
SIPP Lite is a lower cost option, for those that do not require multiple investment accounts, or access to commercial property and land at outset. SIPP Lite members are restricted to a maximum of one investment account, to run alongside the default SIPP bank account. This investment account could be another bank account or ONE of the following: stockbroker account, DFM, open market platform/wrap account or a trustee investment plan. For individuals that require additional investments at a later date, including commercial property and land, they can upgrade their SIPP Lite plan to a Minerva SIPP.
A Small Self-Administered Scheme (SSAS) is a type of UK registered pension scheme. Each SSAS is governed by its own trust deed and rules and is a separate legal entity to the sponsoring employer. The sponsoring employer establishes the SSAS and invites members to join. Any individual employed by the sponsoring employer (or a participating employer) may join the scheme and all members are appointed as trustees alongside the professional trustee. SSAS trustees have a very wide range of investment options, including the ability to make secured loans to the sponsoring employer of up to 50% of the net asset value of the scheme, subject to certain conditions.
We have been operating in these markets for over 20 years. The SSAS business was formed in 1997, and in 2003 we launched our flagship product, the Minerva SIPP. The range is completed by SIPP Lite, which has been available since July 2012.
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