Talbot and Muir

Elite Retirement Account

The Elite Retirement Account (ERA) is a Self Invested Personal Pension (SIPP) and has been designed to allow its members to benefit from the opportunities allowed by current pensions legislation, enabling them to have more control and flexibility over when they make provision for their retirement and how the funds are invested.

Talbot & Muir acts as the administrator and authorised provider of the scheme. Each ERA is established by adhering a supplemental deed to a Master Trust. In this way, all the SIPPs we administer are independent of each other. TM Trustees Ltd, thetrustee division of Talbot & Muir and a non-trading company, acts as co-trustee along with the scheme member. TM Trustees Ltd holds all of the SIPP assets for the benefit of and on behalf of the member. This co-trustee arrangement affords members the flexibility they require whilst ensuring that the scheme is secure, as each client’s assets are ‘ring-fenced’ with their own ‘sub-trust’ and are held distinctly separate from those of other clients.

Each ERA will operate an interest-bearing current account with Cater Allen Private Bank, which ispart of Santander Group, one of Europe’s biggest banking groups.

When a new member establishes an ERA, all contributions and transfer values received are paid into an individually designated bank account with Cater Allen to receive and pay monies as required. Contributions will start to earn interest as soon as they are deposited.

Information on eligibility to establish and contribute to an ERA, the taxation status of the scheme, where funds are invested and how benefits can be taken can be found in our Key Features Document (available from the Downloads page).
In addition, further explanation and details concerning permitted investments and taking benefits can be found in the Technical Centre.

A Summary of the Benefits of using the Elite Retirement Account

• Transparent fee basis and low charges.
• Flexibility of contribution payments – members may stop, start, and change contributions subject to HMRC limits at any time without penalty (unlike a conventional insurance company product).
• Total portability means members can transfer or move their fund at any time without penalty.
• Members may take early retirement without penalty.
• Members may defer purchasing an annuity, and receive pension payments from their own SIPP instead.
• The ERA is a cost-effective vehicle for receiving transfers from other pension schemes.
• The ability for the member to formulate investment choices on their own or in conjunction with their investment adviser.
• Commercial land and property purchase facility.
• No restrictive insurance policy conditions.
• Retirement allowed between age 55 and 75 (earlier in serious ill health).
• Significant tax savings on contributions.
• Largely tax-free growth.