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Charges for
Additional Services

Cheviot allows members to access their benefits flexibly. Some services are subject to an additional charge.

All our fees are fixed amounts and include VAT. They are calculated on the basis of the work involved to administer your request. They are not related to the size of your fund as the administration is the same for a large fund as a small one. You may find other providers quote fees as a percentage of your fund size. You will need to work out the actual cost on the basis of your fund. This might be more or less than the amount we charge.

The fees shown below are based on our estimates of the time involved for each element. We reserve the right to change them in future or if your case is particularly complicated. We will always tell you in advance if the fees are changing.

Charges for existing Money Purchase Section funds
Accessing part of your fund as a lump sum Once per year FREE Additional lump sums £100
Accessing a flexible income Initial fee £300
Annual drawdown payments £100 each
Monthly drawdown payments £150 Amount to be set in advance for each 12 month period
Investment switches One per year FREE Additional switches £50 each
Transfers out to another provider FREE
Charges for funds transferring in (including from the With Profits Section)
Whole fund taken as a lump sum within first year £250
Part of fund taken as a lump sum within first year £150 initial fee Additional lump sums within first year £100 each
Further lump sums (after the first year) One per year FREE Additional lump sums in each year £100
Investment switches One per year FREE Additional switches £50 each
Accessing a flexible income AS ABOVE

The information on this page is provided in good faith but is not legal or financial advice or binding on the Trustee. The trust deed and rules will override in the event of any inconsistency.

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