Bank Interest Rates - The Personal Pension Trust
Banking for this product is supplied by Cater Allen, a member of the Santander Group.
Our standard practice provides for rates of interest to be allocated at a rate fixed
below the Bank of England base rate as varied from time to time.
Special Notice:
Following the announcement of the base rate of 0.5% the current rate of interest
on member accounts under £100,000 is NIL.
Accounts with a balance between £100,001 and £500,000 have an interest rate of
0.025% - accounts over £500,000 have an interest rate of
0.15%.
We will continue to monitor any future movement in interest rates and update these
pages accordingly.
In respect of any monies controlled by Premier Pension Services (PPS) on behalf
of the Member pursuant to the Service Agreement, PPS will use its best endeavours
to make available banking arrangements with Cater Allen (“CA”) on special terms.
Designated bank accounts will be maintained for the Member with appropriate authorisations
in place for the movement of funds.
Facilities are available to enable PPS, on behalf of the Member, to manage effectively
the day-to-day cash needs of the policy. In consideration for placing aggregated
client funds with CA (and for performing administrative services CA would otherwise
have to carry out itself), PPS receives a fee from CA, which PPS will explain further
and disclose if the Member so requests.
All rates above are per annum with interest paid quarterly.
Date page updated ...... 12th May 2009