Important update
Following the recent announcement that Nucleus has acquired Curtis Banks, we're continuing our long-standing partnership with Curtis Banks to provide the Cofunds Pension Account. For the immediate future there will be no change for advisers or customers of either business. We’ll update you with any further developments.
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. The Cofunds Pension Account is available to new clients investing at least £5,000.
Administered by Curtis Banks, an expert team is on hand to help your clients get the most out of their retirement.
Choose from around 4,200
funds1.
Simple transfers using
Origo Options.
Straight forward set up of ongoing advice charges.
Features and benefits at a glance
- Pension credit
- Drawdown transfer (capped and flexi access)
- Uncrystallised funds pension lump sum (UFPLS)
- Transfers*
- Single contribution*
- Regular monthly contributions**
- Flexi-access drawdown with no income limit taken from the pension
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 |
£0 |
N/A |
The value of an investment can fall as well as rise and isn't guaranteed. Your client could get back less than they invest.
1 As at December 2022.
*Minimum of £5,000 initial and £1,000 subsequent
**£100 a month minimum