A Self-Invested Personal Pension (SIPP) may be established for anyone, including employed individuals (whether or not they are currently in an employer’s pension scheme), self-employed individuals and those who wish to transfer out of their existing pension arrangements.

Overview of the EBS SIPP

The EBS SIPP is a registered pension scheme for the purposes of Part 4 of the Finance Act 2004 and is set up under trust. The Trustee and Administrator is EBS Pensions Limited. The EBS SIPP was established in March 2000. Bank of Scotland provides banking facilities to each Member’s individual SIPP within the EBS SIPP, and Members can open secondary accounts with other banks.

Interest on scheme bank accounts held with Bank of Scotland is compounded and credited monthly (gross). In the current climate the amount of interest paid to your account is 0.0%. Note that base rate fluctuations may result in interest rate variation.

The terms of our agreement with Bank of Scotland involve us undertaking aspects of bank account management, for which we may receive a payment.

The EBS SIPP allows Members to direct the investments of their own SIPP fund. Contributions can be accepted from Members, employers and third parties (subject to satisfying anti-money-laundering requirements) and, subject to a maximum of £3,600 gross, from qualifying Members who have no relevant earnings.

Why an EBS SIPP?

  • No set-up charge
  • Straightforward charging structure
  • Strong technical support
  • Dedicated SIPP team of knowledgeable staff
  • Wide investment choice including property, investment grade gold, hedge funds, and in some cases unquoted shares and loans to third parties
  • The SIPP bank account is held with Bank of Scotland but clients can have multiple pension accounts with other banks
  • Members can choose their own advisers (solicitors for property purchases, mortgage providers, stockbrokers)
  • Member is a Trustee and joint-owner of the SIPP assets
  • Member can appoint a reserve trustee effective from date of death
  • Former protected rights transfers accepted
  • No minimum transfer value or contribution
  • Benefit flexibility – income withdrawal from the SIPP pre- and post- age 75
  • No call centres

Setting up a SIPP for an individual

Initially the individual completes an application form, which provides information to enable EBS to prepare the set-up documentation. The individual’s SIPP is set up under a sub-trust with the individual and EBS as joint trustees. EBS Self-Administered Personal Pension Plan Trustees Limited (bare trustee for EBS) acts as a joint signatory of each bank account opened for each individual’s SIPP with Bank of Scotland. The assets of the Member’s SIPP will be registered in the joint names of the trustees unless held on their behalf by a duly-appointed nominee.

If you would like to know more about the information provided on this page, please contact us.

Before you choose a SIPP, make sure you understand its aims and risks. EBS does not give advice. If you are unsure whether our SIPP is suitable for you, you should seek professional financial advice.

Please remember the value of your investments and any income from them can go down as well as up. The value of your fund may be less than you paid in.

You should view your pension investments as being for the long term. You won’t normally be able to take money out of your SIPP Account until you are at least 55.

The laws and tax rules may change in the future without notice. The information here is based on our current understanding of the tax rules. This information takes no account of your personal circumstances which may have an impact on tax treatment.

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