For adviser use only.
Where we refer to ‘we’ or ‘us’, we are referring to Timeline Platform as provided by Timeline Portfolios Ltd, which is authorised and regulated by the Financial Conduct Authority (number 840807). Where we refer to ‘you’, we are referring to the adviser.
This guide is for information on opening and servicing of the Timeline SIPP only. For information relating to the product specifics including aims, risks, commitments, and fees, please refer to the Timeline SIPP Key Features document.
How do I open a Timeline SIPP for my client?
A Timeline SIPP can be opened via the client onboarding web journey. All deposits, Direct Debit instructions and transfers can be submitted via this journey.
A SIPP can also be opened by using the 'Add wrapper' function under 'More' on the Accounts page for existing clients.
Who is eligible to open a Timeline SIPP?
Any individual who is a UK resident for tax purposes can open an SIPP, for full eligibility requirements please refer to our terms and conditions.
Do you accept Direct Debit instructions?
Yes, a client can make Direct Debit payments into their Timeline SIPP. This can be setup via the client onboarding journey. Please see the Direct Debit adviser guide for more information.
Please note, direct debit payments can only be used for personal contributions into the SIPP, regular employer payments can be made by setting up a standing order alongside the appropriate application through the adviser hub and completion of a Regular Employer Contribution Agreement.
Can I transfer my client’s existing SIPP to Timeline?
Yes, a client’s SIPP can be transferred from another provider to Timeline. We can accept both full and partial SIPP transfers, and these can be instructed as either in specie or cash transfers. Depending on the ceding scheme, we will utilise Origo or ATG to transfer pensions electronically wherever possible.
If the ceding provider doesn’t accept electronic transfer requests, we will request the transfer manually.
We can accept transfers from defined benefit pensions but this is at our discretion; we may request additional information before doing so and may not in all instances agree to accept the transfer.
Do you charge for SIPP transfers?
Though Timeline has no charge for transferring a SIPP product in or out, for transfers in, the existing SIPP manager may have charges associated with encashing or transferring the plan. Please enquire with the existing provider before instructing a transfer on your client’s behalf.
Can my client make one-off payments into the Timeline SIPP?
Yes, the client can make a single deposit payment into their Timeline SIPP for both personal contributions and employer contributions. We automatically apply tax relief for personal contributions, which will arrive 8-12 weeks after your client’s contribution.
For example:
The customer contribution is received on 30 September.
We collate the tax relief payments for the given tax month (6 September to 5 October) and submit the request to HMRC at the end of the calendar month (30 October)
The tax relief is received from HMRC and applied to the accounts approximately three weeks later – around 21 November in this example.
Please note, if the client makes a payment to us without the instruction having been submitted by the adviser first, our Platform Operations team will contact you to submit this prior to the payment being processed.
Is the entire Timeline asset universe available within the Timeline SIPP?
Yes, all assets within Timeline’s asset universe are available within the SIPP.
For a full breakdown of asset and investment types available, please refer to the Timeline SIPP Key Features document.
How do I manage my client’s SIPP?
All servicing options are available via the Adviser Portal. For specific instructions on how to submit a particular instruction, get in touch with us via email or live chat.
Can my client hold a model portfolio in their SIPP?
Yes, for advisers subscribed to Timeline’s DFM service, the full selection of Timeline portfolios are available to SIPP clients. If you don’t currently use the DFM service, you can find more information on the Timeline website.
Can I use a third party DFM/Model Portfolio in my client’s SIPP?
No, currently only Timeline portfolios are available.
Can funds be withdrawn from my clients SIPP?
We support full and partial crystallisation processes including UFPLS & Flexi-access Drawdown (FAD), so tax-free cash payments will be taken from your client’s SIPP as part of a crystallisation event. For details of taxable income options please refer to the SIPP Decumulation guide.
We will track the Lump Sum Allowance used for each client. We can confirm this on request if needed.
Are there any product fees on accumulation SIPPs?
No, there is no product fee on accumulation SIPPs but there is on Decumulation SIPPs. See the Decumulation SIPP guide or Fee Schedule for more information.
Can I set up adviser fees on a client’s SIPP?
Yes, please refer to the Adviser Fees guide for more information.
What happens to my client's SIPP in the event they die?
In the event your client dies, we will arrange for the funds to be passed to the beneficiaries following receipt of a completed bereavement pack. For full details of this process and our requirements please refer to the Bereavement guide.
What happens if my client moves abroad?
It is the responsibility of the client or yourself to notify us if they have moved abroad.
Once the client has moved abroad, they will no longer to be able to access their SIPP until such time as they return to the UK. Upon return, we will need to successfully verify them as being at a UK address with a UK bank account before a withdrawal can be processed or servicing can continue.
Can my client transfer their SIPP to another provider and are there any charges?
Yes, your client can transfer their SIPP account to another provider. We will action this on receipt of a valid instruction from the new provider.
There are no exit charges for transferring a client’s SIPP to another provider.