Our Sharia SIPP in partnership with Wahed Invest

Application for Direct Clients

You will be required to complete sections 1-11. This will allow our new business team to produce an illustration which will provide a projection of your retirement savings plan based on your contribution amounts and chosen retirement date. Once you have accepted the illustration, you will be prompted to complete the declaration in section 12, sign and date your application for processing.

Before you send us your SIPP application you should read our SIPP information, including key features, terms & conditions, data protection and declaration statements, and the fee schedule, which are an important part of this application.

Please complete all sections. [An example form is available on this site for your reference to assist you]

SIPP to be established for a Direct Client (as execution only)

Options UK Personal Pensions LLP and MK SIPP Trustees UK Limited ('trustee') will not provide you with legal, financial, investment, tax or other advice and aren’t responsible for the suitability or appropriateness of your decision to set up a Self-Invested Personal Pension (SIPP).

This application should only be completed if you aren’t receiving financial advice from a Financial Conduct Authority regulated financial adviser. You must ensure you understand the implications of this decision before proceeding.

If you need help in understanding any part of this application, please contact us 0330 124 1505.

You are requesting to establish a SIPP on an execution only basis, and in doing so you have decided not to take independent financial advice from a regulated adviser.

The security and safety of your data is very important to us. A copy of our privacy notice is available on our website www.optionspensions.co.uk/privacy

If you have any questions, or need to discuss specific client requirements please give our Illustrations Team a call on 0330 124 1505.

Please provide a short statement in your own words as to the reason for establishing the SIPP on an execution only basis.

The reason I want to establish a SIPP without the advice of a financial adviser is:*

I hereby apply for membership of the SIPP that is being established under your SIPP;
I acknowledge and accept your SIPP terms & conditions and schedule of fees and agree to be bound by the scheme rules of your SIPP;
I confirm I have had the opportunity to read the key features document, terms and conditions and all aspects of the application and acknowledge I have had the opportunity to ask any questions to confirm my understanding;
I consent to Options UK Personal Pensions LLP, obtaining, processing and storing my personal data and where necessary special category data to administer my pension scheme.
I confirm that all details and declarations provided are correct and complete to the best of my knowledge and belief;
I agree and consent to Options UK Personal Pensions LLP carrying out checks to verify my identity, residence and source of wealth and I agree to supply any further information required to complete these checks.
I agree to a scheme bank account being established and agree that all monies will be routed through this account;
I give my authority to accept correspondence by fax and email from Options UK Personal Pensions LLP and for MK SIPP Trustees UK Ltd to accept instructions by facsimile and email from myself and/or investment manager from the email addresses detailed in the application and email addresses associated with the investment manager;
I agree to notify Options UK Personal Pensions LLP of any change to my personal details or circumstances;
I hereby consent to Options UK Personal Pensions LLP requesting the transfer of my policies listed in the application;
I hereby consent to Options UK Personal Pensions LLP obtaining details from any pension scheme, arrangement or contract of which I have been a member and authorise the giving of any such information to Options UK Personal Pensions LLP;
I confirm that the total contributions to any registered pension schemes in respect of which I am entitled to tax relief will not exceed the higher of (i) the basic amount (currently £3,600) or (ii) 100% of my relevant UK earnings (within the meaning of section 189 of the Finance Act 2004) for that tax year;
I will notify Options UK Personal Pensions LLP if an event occurs, as a result of which I will no longer be entitled to tax relief on my contributions, by the later of (i) the next 5th April or (ii) 30 days after the event occurs;
I also confirm that, if I intend making contributions that are not to benefit from tax relief (for example ‘excess’ contributions), I will inform Options UK Personal Pensions LLP in writing;
I understand that by signing this application form I am declaring that I am aware of my annual allowance (including any carry forward) and request that the scheme administrator reclaims tax on my contributions unless I instruct otherwise;
I confirm that I wish for Options UK Personal Pensions LLP to appoint the investment manager as detailed in the application;
I understand that Options UK Personal Pensions LLP and MK SIPP Trustees UK Ltd are not in any way able to provide me with any advice;
I confirm that I am establishing the SIPP without having taken regulated, professional financial advice and that I do not intend to take such advice in respect of the purchase, retention or sale of any investments held within the SIPP. I understand the implications of this;
I confirm that I have not received any advice from Options UK Personal Pensions LLP or MK SIPP Trustees UK Ltd in relation to the transfers I have requested from my other pension schemes to your SIPP or the investments I have instructed Options UK Personal Pensions LLP to make;
I confirm I understand the value of my SIPP can go down as well as up depending on the performance of the investments chosen.

By signing this application and submitting the form you are:
- consenting to the information provided in this form and any supporting documentation being disclosed to the parties listed in the Data Protection statement and used for the purposes set out on the form;
– consenting to any personal or special category data provided in this form and any supporting documentation being disclosed to the parties listed in the Data Protection statement only if necessary and for the purposes set out in this form.

Please tick to confirm you agree the following.*

I have had the opportunity to read the information provided with this application form, including the illustration, the key features document and the terms & conditions and acknowledge I have had the opportunity to ask any questions to confirm my understanding.

I have read and accept the current schedule of fees.

I accept and acknowledge that Options UK Personal Pensions LLP and MK SIPP Trustees UK Ltd have not provided any financial or investment advice.

I agree to the establishment fee (please refer to the schedule of fees) and accept this is non-refundable after the expiry of the 30 day cancellation period.

I consent to Options UK Personal Pensions LLP processing and holding my personal data to establish and administer my SIPP.

X Signature required*

Member Name*

Member Signatures (Clear)*

Date

Additional Support

If you have any further information you would like to provide us with, or if there is any additional support you require from us please let us know in the box below.

Simple SIPP fee - quick reference (prices exclude VAT)

Please refer to our Fee Schedule for full details of all SIPP transaction options not noted here as other fees may apply

Simple SIPP set up and administration
Setting up your SIPP	£200
Annual SIPP admin fee	£300

Transfers in and contributions
Transfer in from a personal pension defined contribution scheme in cash only	Nil
Transfer in from a defined benefit occupational pension (rules apply - see full Options Fee schedule) £250	£250
Transfer in from another pension scheme which is made up of assets or a combination of assets and cash (in-specie) excludes property and non-standard investments	£200
Transfer in from a non-UK pension	£350
Setting up a regular contribution Nil	Nil
Making a single contribution	Nil

Investments
Opening a standard investment account	Nil

Benefits and income
Allocation of all or part of your SIPP to provide pension benefits - per event (includes the payment of tax free lump sum or pension lump sum)	£250
Annual fee for regular income drawdown payments
Monthly	£250
Quarterly	£150
Bi-annually or annually	£125
All income payments are made on 28th of the month. Any payments outside of monthly payroll will incur the ad-hoc income payment fee
Small pot payments	£125
Review of capped drawdown income limits (triennial before your 75th birthday and then annually after you reach your 75th birthday)	£150
Ad-hoc income payments	£100
Closure of your SIPP through taking flexi-access drawdown payments or regular pension lump sums	One year’s SIPP annual admin fee

Other charges
Payments on death or if your pension is to be split/sharedas part of divorce	£Time cost min £500
Payments by BACS	Nil
Payments by faster payment	£5
Payments by CHAPS	£25
Our time cost rates are charged on an hourly basis Standard	£150 per hour
Senior team member	£150 per hour

*Wahed Invest link to Sharia fund manager costs: https://wahedinvest.com/pricing/

Please note the fund manager costs are not part of Options establishment and administration fees.

Back

Our Sharia SIPP in partnership with Wahed Invest

1. Your Personal Details

Third party or parent/legal guardian details

Source of Wealth and Funds – must be completed

2. Occupation & eligibility

3. Pension protection

4. Taking benefits (Retirement)

5. Contributions

Employer Contributions

Personal contributions/Self-employed contributions

5. Contributions (continued)

Third party contributions – Individual

Third party contributions – company

Annual allowance/pension input periods

Important Notes

6. Transfers

Occupational scheme only*

Beneﬁts

6. Transfers (Continued)

Discharge forms

Other pension arrangements

7. Investments

Type of investment authorisation*

Investment Choice(s)

Amount of investment

8. Verification of identity

9. Expression of Wishes

Beneficiary / NomineeBeneficiary / Nominee (delete as applicable)

Do you wish to add beneficiary/Nominee details?

Beneficiary / Nominee (delete as applicable)

Beneficiary / Nominee (delete as applicable)

10. Cancellation rights

11. Data protection

12. Declaration

X Signature required*

Additional Support

Simple SIPP fee - quick reference (prices exclude VAT)

Please refer to our Fee Schedule for full details of all SIPP transaction options not noted here as other fees may apply