What’s happening with Barclays Stockbrokers SIPP and what will the fees be?
The Barclays Stockbrokers SIPP is now the Barclays SIPP. On Smart Investor, you'll see this named as your 'SIPP Account' and it’ll sit alongside your Investment ISA and Investment Account (if you have them).
The pension provider is still AJ Bell Management Limited, part of the AJ Bell Group, and there won't be any changes to how the pension is run. Any contributions or requests for withdrawals should go through AJ Bell as usual. If you had a Direct Debit set up on Barclays Stockbrokers to make contributions to your SIPP, this will continue to appear on your bank statement as SIPPDEAL TRUSTEES LTD.
If you had more than one SIPP account on Barclays Stockbrokers they’ve been merged into one new SIPP Account.
Your pension rights and benefits won’t be impacted by this change to your investment service. There are new terms and conditions, which we sent you when we told you about the move. These cover the new service, and have also been updated to reflect current regulations.
What’s happening with fees?
You’ll pay a monthly customer fee to Barclays that covers all of your individual investment accounts, as well as a straightforward transaction fee each time you buy or sell an investment. For more information about our new fees have a look at the dedicated pages.
Additionally, you’ll pay a SIPP administration fee to AJ Bell, which will be charged quarterly and collected from your new SIPP Account by Barclays on their behalf.
Find out more about Barclays SIPP fees [PDF, 185KB]
You are currently unable to open a new SIPP account. However, you can be the first to know when the Barclays SIPP becomes available.
I had a Barclays Child SIPP?
We wrote to all guardians of Child SIPPs separately. On Smart Investor, each child can have one account in their own name.
Unlike the other account types we offer, access to Child SIPPs will be offline only, which means they can only be managed over the phone by the legal guardian.