Our SIPP Service Standards
We are committed to providing the very best level of service that we can to our clients. For us this means that we maximise the quality of what we do and minimise the time that it takes to do it.
The table below shows our target turn-around times for completing the main activities that we undertake when running SIPPs. All timescales run from the date of receipt unless otherwise stated. Our aim is to beat these service standards.
Process |
Service Level | Notes |
New Business |
||
| Issuing a SIPP application pack | Same day | |
| Producing a new business illustration We also have an online facility for financial advisers to produce their own |
Same day | 4 |
| Acknowledging receipt of a new SIPP | Same day | |
| Processing a new SIPP application | 2 days | 1 |
Money-In |
||
| Processing transfer-in or contribution forms | 24 hours | 1 |
| Origo transfers usually take around 10 working days to complete, not including the initial 48 hour set up period. | ||
| Non-Origo transfers take slightly longer. Our transfer team chase the transferring company regularly to ensure the transfer completes as soon as possible. | ||
| Banking incoming cheques | 24 hours | 1 |
General Administration |
||
| Raising outgoing cheques and transfer instructions | Same day | 1,2 |
| Processing client/adviser instructions – including transferring money | 5 days | 1 |
| Providing ad hoc valuations | 3 days | 3 |
| Providing ad hoc projections | 3 days | 3 |
| Providing information requested | 3 days | 3 |
| Responding to general enquiries | 4 days | 3 |
| Dealing with technical queries | 5 days | |
Investments, including property |
||
| Assessing viability of investment in principal | 5 days | 1 |
| Instructing solicitors and lenders | 4 days | 1 |
| Completing legal documents | 3 days | 1 |
| Transfer of funds for purchase | Same day | 1,2 |
| Responding to general enquiries | 4 days | |
| Dealing with technical queries | 5 days | |
Member Benefits |
||
| Crystallisation of benefits and payment of lump sum | 5 days | 1,2,5 |
| Transitional Tax Free Amount Certificate | 2 weeks | 1 |
| Processing of pension payroll | End of the month | 1,2 |
| (note: must receive instruction by the 20th of the month) | ||
Transfers Out |
||
| Processing transfer-out forms | 24 hours | 1 |
| The time it takes for your SIPP to transfer out depends on a number of factors including whether it is through the Origo Transfer Service or not, how your SIPP is invested, whether it will be transferred as cash or in specie, and the receiving scheme service levels. | ||
| Origo transfers usually take around 10 working days to complete, not including the initial 48 hour set up period. Non-Origo transfers take slightly longer. |
Notes
- Provided correct/complete documentation and/or information is received
- Provided SIPP bank account has sufficient cleared funds and instruction is received before 12pm.
- Provided information needed from third parties is supplied within timescales.
- Provided the request is received before 12pm.
- There are parts of the process that are beyond our control. For example, we have no influence over the time it takes an external company to action an encashment request.
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