Updating our Terms and Conditions for Minerva SIPP and SIPP Lite customers

From time to time, we review our Terms and Conditions for SIPP customers. We are writing to customers to provide 30 days’ notice of changes which apply from 4^th August 2025.

The changes include enhancements to our products, simplifying our processes and clarifying our approach and understanding in certain areas.

You can download the updated documents below:

– Minerva SIPP (incorporating SIPP Lite) Terms and Conditions (from 4th August 2025)

The following items have also been updated to reflect the changes above:

– Minerva SIPP Key Features

– Minerva SIPP Schedule of Fees

– SIPP Lite Key Features

– SIPP Lite Schedule of Fees

The changes include:

Enhancements to our banking arrangements for uninvested cash

We are excited to be making improvements to our banking arrangements, which will spread risk over a number of banking partners, increasing the overall level of protection for deposits under the Financial Services Compensation Scheme, and may enhance potential returns.

The revised terms will allow us to place some or all of your pension monies with those of other members into a pooled account at a bank of our choosing.

You can read more about this on our website, including when these changes will take effect, details of the banks, how deposits are protected and the current interest rate.

Future changes will be published here: www.investaccpensions.co.uk/sipp-banking-arrangements

Commercial property administration – clarifying our role

We have included a link to a page on our website which describes our role, under our property administration service: www.investaccpensions.co.uk/sipp-property-administration-service

We are also clarifying that we will accept no responsibility for non-payment of rent, for any reason, and the consequences of this, including potential unauthorised payment tax charges.

Where your SIPP borrows money from a lender

To clarify that any lender must be approved by us.

Liability for professionals appointed to your SIPP

To clarify that we act in good faith in the appointment of professionals to your SIPP but accept no liability as a consequence of this.

Liabilities after a SIPP has been closed

You agree to reimburse us where a liability or unpaid costs, such as tax charges arise or are discovered, after your SIPP has been closed.

Transfers of assets

We may transfer assets out your pension if we deem it necessary or expedient for the operation of the pension scheme, such as when merging two different pension schemes.

Death benefit process

We are formalising changes to our death benefit process where there are multiple beneficiaries, so that we will sell investments on receipt of the first beneficiary’s options form, where it is practicable for us to do so.

Protecting your data

We have updated the wording so that it now refers to the latest legislation.

If you have any questions, then please contact your financial adviser or us on 01228 538 988. You can also send an email to [email protected] or fill out the contact form on our website www.investaccpensions.co.uk/contact

June 27th, 2025