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Simple personal pension

The Cofunds Pension Account is suitable for clients who may not need a full self-invested personal pension (SIPP), but want to hold a wide range of uninsured collective investments in a cost-efficient product. Administered by Curtis Banks, an expert team is on hand to help your clients get the most out of their retirement.

Features

  • Pension credits

  • Drawdown transfer (capped and flexi-access)

  • Uncrystallised funds pension lump sum (UFPLS)

  • Transfers1

  • Single contributions1

  • Regular monthly contributions2

  • Flexi-access drawdown with no income limit taken from the pension

Benefits

  • Online investment choice of around 4,400 funds (as at February 2020)

  • Simple transfers using Origo Options

  • Straight forward set up of ongoing advice charges

1 Minimum of £5,000 initial and £1,000 subsequent

2 £100 a month minimum

Charges

You can find the drawdown charges in the table below, and full details of the Cofunds Pension Account charges and rates are in our Charges sheet.

All charges are subject to VAT and we may vary them in future.

Charge type Charge amount Frequency

Drawdown establishment charge

£100 for each sub plan

On designation or transfer of a scheme already crystallised.

Drawdown annual charge

£120 for each sub plan

Yearly in advance, if income is taken

UFPLS charge

£220

For each UFPLS payment

Review of income limits for a capped drawdown pension

£100

At least every three years before client reaches 75 years old and then yearly

Switching capped drawdown pensions to a flexi-access drawdown pension

£100

N/A

Payment of the total remaining fund through flexi-access drawdown or UFPLS

£300

N/A

The value of investments can go down as well as up, so the value of a client’s pension fund isn't guaranteed. A client must keep any money invested until they take their benefits, which is usually any time from age 55.

Documents you may need