Pointon York SIPP: How Does It Compare?

Pointon York's SIPP stands out for its flexibility and the ability to hold a wide range of assets, including unconventional investments. Their innovative approach to pension savings caters to investors looking for unique opportunities.
  • Last Updated: 22 Mar 2024
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  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.


Francis Hui
Find Out Whether This Product Is Still Available to Retirement Investors. Read On to Find Out Everything You Need to Know.
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Key Takeaways
  • Pointon York SIPP is a self-invested personal pension scheme that allows you to take control of your retirement savings.
  • It works by giving you the flexibility to choose and manage your investments within a tax-efficient pension wrapper.
  • The benefits include tax advantages, investment control, and flexibility in retirement planning.
  • To open an account, you need to contact them directly and go through their application process.
  • You can transfer your existing pension but it’s important to consider the potential benefits and drawbacks before making a decision.

The Pointon York SIPP, despite no longer accepting new customers, offers an interesting lesson in the power of knowledge, research, and robust regulatory bodies when it comes to planning a prosperous retirement. 

In the fiscal year 2021/2022, personal pension contributions reached £11,9 billion, up from £11,7 billion in the 2020/2021 year.1

This significant increase highlights a growing drive among individuals to safeguard their financial futures, but how easy is that to achieve?

In This Article, You Will Discover:

    Join the Every Investor team as we delve into the Pointon York story.

    What Is a Pointon York SIPP?

    A Pointon York SIPP, also known as a Self-Invested Personal Pension, is a type of pension scheme that allows individuals to have more control and flexibility over their investments.

    With a Pointon York SIPP, individuals can choose from a wide range of investment options, including stocks, bonds, property, and cash.

    This gives them the opportunity to tailor their pension investments to their specific goals and risk tolerance.

    The Pointon York SIPP also offers tax advantages, such as tax relief on contributions and tax-free growth on investments, making it an attractive option for individuals looking to maximize their retirement savings.

    A unique feature of the Pointon York SIPP is its emphasis on transparency and independence.

    Unlike some other pension providers, Pointon York is not tied to any specific investment funds or platforms, meaning they can offer a wider range of investment options and are not limited to promoting certain funds.

    This independence allows individuals to truly take control of their pension investments and make informed decisions based on their own research and preferences.

    The Pointon York SIPP also provides access to a secure online portal, where individuals can monitor their pension investments and make changes as needed, providing a convenient and user-friendly experience.

    Does Pointon York Still Exist?

    No, Pointon York does not exist any more. 

    The SIPPS provider went into liquidation in 2018 and was declared in default in 2020.2

    Brief History & Overview

    Geoffrey Pointon and Syd York established Pointon York in 1971, introducing one of the first SIPPs in 1990.3

    In 2010, they rolled out a corporate SIPP and acquired Bridgewater Pension Trustees and Halcyon Financial Services the next year.4

    Due to financial troubles in 2012, 1,700 SIPP plans were sold to Suffolk Life, and Curtis Banks bought their eSIPP and cSIPP plans (7,000 in total) in 2014.5 

    Pointon York was liquidated in 2018, and by 2020, the FSCS declared them in default after investigating their due diligence.6

    Claims against the company totalled £355,000, with an additional £15 million against advisers who recommended their products.

     The company dissolved on 27 April 2021.7

    Key Players in Pointon York’s Development

    Key players in Pointon York’s development include founders Geoffrey Pointon and Syd York. 

    Christine Hallett joined Pointon York in 1996 and became chief executive by 2006, expanding the company to over 4,000 SIPPs before leaving in 2008.8 

    Jo French took over as MD until 2011.

    Current Market Position

    Pointon York SIPPs are no longer accepting new business.

    The Pointon York SIPP products are administered for existing clients by Crescent Trustees Limited, a wholly owned subsidiary of Curtis Banks Group Plc.9

    What are Pointon York’s SIPP products?

    While Pointon York is no longer open for business, Curtis Banks administers the Pointon York cSIPP for 11 corporations and an eSIPP for existing clients.10   

    Key Features & Benefits

    Key features and benefits of Pointon York cSIPP plans include tax-efficient retirement savings, flexible benefit options, transfers, and online assessments.11

    Costs & Charges

    You need to consider costs and charges before opting for a Pointon York SIPP, which includes a £113 annual admission fee.

    There are also charges on other transactions, contributions, and withdrawals.12

    How Do You Go About Comparing Pointon York’s SIPP Offering With Competitors?

    When comparing Pointon York’s SIPP offering with competitors, consider costs and minimum investments.

    Pointon York’s annual administration fee is a flat rate of £113, and the initial minimum investment is £25,000.

    Let us take a brief look at how Pointon York stacks up against its competition.

    Pointon York:

    • Annual administration fee: £113 (flat rate)
    • Initial minimum investment: £25,000

    AJ Bell:

    • Platform fee: 0,25% of SIPP’s value (note: can be expensive for large pension pots)
    • Minimum lump sum investment: £1,000 (including tax relief)

    Hargreaves Lansdown:

    • Annual holding fee: Up to 0,45%
    • Initial investment: £100 or £25/month

    Curtis Banks:

    • Annual administration fee for ‘Your Future SIPP’: £352 (with conditions)
    • Aimed at investors with a minimum pension pot of £250,000

    Interactive Investor (ii):

    • Flat fee for ‘Pension Builder’ customers: £12,99
    • No minimum contribution required for an ii SIPP.

    How Can You Invest with Pointon York’s SIPP Products?

    Pointon York’s SIPP products include a cSIPP for employees of partnered firms and eSIPP for existing customers. 

    Crescent Trustees Limited oversees both as trustees, while Curtis Banks Ltd manages administration. 

    Both SIPPs, recognised by HMRC, offer UK tax advantages.

    Types of Investments Available

    Your employer determines the investment types for a cSIPP, while the eSIPP offers a broader range of investments from Curtis Banks’ approved list.13 

    Flexibility & Withdrawal Options

    You can access SIPP benefits from age 55, rising to 57 in 2028,14 even while working while early withdrawals are possible for illness or terminal conditions. 

    Withdrawal options include taking a 25% tax-free lump sum, drawing partial or full amounts, purchasing an annuity, or selecting drawdown for pension income. 

    Tax Implications

    Tax implications on a SIPP include benefits and conditions associated with private pension schemes recognised by HMRC. 

    You will receive tax relief on contributions up to the Annual Allowance of £60,000, with the option to carry over unused portions for three years.15

    However, you must provide proof of your contribution source.

    Who Is Pointon York’s SIPP Best Suited to?

    Pointon York’s SIPP is best suited to employees whose companies subscribe to the cSIPP administered by Curtis Banks.

    How Do You Open a Pointon York SIPP?

    Opening a Pointon York SIPP will only be possible if you find yourself in one of two specific categories.

    The two products you may be eligible for are:

    • cSIPP: Employees of a sponsoring employer can join the Pointon York cSIPP. Those with UK earnings can make extra contributions, and electronic identity verification is needed.16
    • eSIPP: The eSIPP is open to existing clients who are employed, self-employed, students, pensioners, carers, the unemployed, and minors under 18 with a guardian-managed SIPP.17

    What Is the Minimum Investment?

    Both SIPP types need a £25,000 initial investment and accept a minimum regular contribution of £50 or a single £1,000 contribution. 

    Employers contribute to your cSIPP monthly through PAYE, and for eSIPPs, you can make one-time or ongoing contributions and adjust or halt them as needed.

    What Is the Process?

    The process involves speaking to your employer if you are interested in the Pointon York cSIPP. 


    Pointon York SIPPS are not open for new business, but the Curtis Banks Your Future product is available as an alternative. 

    What Are the Charges for Pointon York’s SIPP Products?

    The charges for Pointon York’s SIPP products include standard fees consisting of a £34 single contribution and an annual fee of £113, with a £113 charge for transfers out.

    A quick look at these fees: 

    • Setup fee: £300.
    • Annual management charge: 0,3%.
    • Trading charge: £15 per trade.
    • Flexi-access drawdown establishment: Free.
    • Uncrystallised funds pension lump sum: £222.
    • Yearly pension payment fee: £284 for both flexi-access and capped drawdown.

    How Can I Customer Service & Support?

    Customer service and support can be accessed through various contact channels, including a formal complaints procedure.

    Contact Channels

    Curtis Banks will contact you either by letter, telephone, or email, however, your professional advisor is usually the primary point of contact. 

    You can contact the Client Management Team on 0117 332 4080 or cmt@curtisbanks.co.uk

    Response Times

    There is a chatbot on the Curtis Banks website to assist with your queries in real time.

    Curtis Banks promises to acknowledge any complaints within 10 working days.18

    What is Regulatory Compliance & Protection?

    Pointon York’s regulatory compliance and protection are provided through its parent company, Curtis Banks. 

    FCA Regulation

    Curtis Banks Ltd is authorised and regulated by the Financial Conduct Authority (FCA Number 492502)

    Financial Services Compensation Scheme (FSCS) Protection

    The Financial Services Compensation Scheme (FSCS) covers Curtis Banks Ltd. 

    You are protected up to £85,000 in the event that the company goes out of business.19  

    In fact, if you think you may be eligible to submit a claim against Pointon York, you should contact the FSCS.20 

    Data Security Measures

    Curtis Banks adheres to and complies with the provisions of the Data Protection Act as well as the Data Protection Principles.21

    What are the Predictions for Future Developments?

    Predictions for future developments are dependent on Nucleus Financial Platforms’ plans for Pointon York following its acquisition of the latter’s parent company, Curtis Banks.22

    Common Questions

    What Benefits Does Pointon York SIPP Offer to Investors

    How Competitive Are Pointon York SIPP Fees

    What Makes Pointon York SIPP Flexible for Diverse Investment Needs

    Can I Transfer My Pension Into a Pointon York SIPP

    What Investment Choices Are Available With Pointon York SIPP

    What Types of Investments Can I Make with a Pointon York SIPP

    How Flexible Are Withdrawals from a Pointon York SIPP

    In Conclusion

    With the complexities of the SIPP arena taken into account, the value of expert insight cannot be overstated. 

    For anyone traversing the retirement financial pathways, one piece of advice stands out: always seek professional advice from a qualified financial advisor before committing to a long-term financial plan. 

    If you hold a Pointon York SIPP, speak to your advisor or contact the FSCS to find out what your options are.

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