Setting up your SIT SIPP
Opening your SIT SIPP
The SIT SIPP Administrator, A J Bell Management Limited, will open your SIT SIPP upon receipt of funds, a valid application form and verification of identity.
A J Bell will issue a welcome letter to confirm the opening of your SIT SIPP. They will send the funds and SIPP details to the dealing and stockbroking services administrator, Halifax Share Dealing Limited (HSDL), who will issue a welcome pack to confirm your dealing account.
Contributions
Lump sum
- Lump sum contributions are made by cheque or electronic transfer. Please note that HSDL will only invest with cleared funds.
Monthly
- Monthly contributions are made by Direct Debit, an instruction for which can be found in The SIT SIPP application pack.
- Where an employer intends to pay monthly contributions by Direct Debit, payments must be made from a UK bank or building society account in the employer's name.
Initial contribution by cheque
- If your initial contribution is by cheque, you will normally be able to deal approximately 5 working days after its receipt by A J Bell.
Transferring in
- If you are transferring in pension benefits from other schemes, it may take some time for A J Bell and HSDL to receive the transfer payment from your existing provider.
- If a transfer payment is to be paid into your SIT SIPP there is no requirement to pay contributions.
Online registration
Once your SIPP is open, you may then register online at www.halifaxsharedealing.co.uk/online to set up your SIPP online dealing account. This allows you to deal, access your valuations and statements and change account details online. If you wish, you may set up a regular monthly payment and investment plan.
Investment Plan
Once you have registered online, you can set up an investment plan on www.halifaxsharedealing.co.uk/online
This enables you to instruct HSDL to buy certain shares for you every month and put them into your SIT SIPP.
- There are four investment dates each month and you can choose to set up a monthly or a one-off lump sum pre-planned investment.
- You can add or remove investments from your investment plan online at any time.
- You can also suspend or reactivate your investment plan online at any time.
Additional contributions