SIPP Pension 100


These accounts are available for Self Invested Personal Pensions only.
 

Summary Box - Key Product Information

What is the interest rate?

  • £1-£250,000            0.10% AER.

  • £250,000+               0.00%AER

  • Interest is calculated on a daily basis and will be capitalised annually on 31st December.

  • Interest will be compounded to the account.

Can Bath Building Society change the interest rate?

  • The interest rate is variable, which means we may change it to respond to changes in law, to meet relevant regulatory requirements, or to respond to changes to codes of practice or changes in our costs.

  • We will give you 30 days' notice in wiriting before any reduction to the rate is applied.

  • Full details of the reasons why we may change your interest rate can be found in the General Terms and Conditions leaflet, under Section 7

What would the estimated balance be after 12 months based on a £1,000 deposit?

  • Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,001.00.

  • This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • Available for UK residents only, applicants must be aged 18 and above.

  • Accounts are opened by completing a specific SIPP application form, which can be obtained from our Customer Support Department, or alternatively downloaded from our website.

  • Personal details of the individual SIPP holder(s) are required, which includes name, address, NI Number and date of birth.

  • A copy of the Pension Deed and Scheme detail will be required from any Pension Trustee involved, together with a list of their authorised signatories.

  • An initial deposit is required to open the account, payable in the name of the account title. This and future deposits can be paid by cheque from a UK bank in the name of the business or charity, or by electronic transfer.

  • Minimum opening balance £1.

  • Maximum balance £1,500,000.

  • Any balances held of more than £250,000 will receive an interest rate of 0% on any balance above the maximum level.

  • It is also possible to view all the accounts you hold with Bath Building Society by registering through our website www.bathbuildingsociety.co.uk

Can I withdraw money?

  • You will need to give 100 days notice of your intention to withdraw funds. We will make a charge equivalent to 100 days interest on all withdrawals if 100 days notice is not given. This charge may be taken from the capital investment.

  • Signed withdrawal requests must be posted to the Society’s Head Office for processing. Alternatively, the Society will accept email instructions from a pre-nominated email address as detailed either in the application form or separate email authority declaration form.

  • All requests will be processed by cheque or by electronic transfer to customers’ designated bank account.

Additional Information

  • No passbook or statements are produced on this account

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets to ensure you fully understand how your account works.

Version: May 2020

Further Information