The Retirement Account. Certainty, flexibility and simplicity for life

Size: px
Start display at page:

Download "The Retirement Account. Certainty, flexibility and simplicity for life"

Transcription

1 Certainty, flexibility and simplicity for life

2 Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a well-established company that can trace our roots back over 150 years. In 2015 we changed our name to Retirement Advantage merging our equity release and retirement income divisions, to help us provide those who are in, at or approaching retirement with a range of simple, secure and flexible solutions to suit their needs. As retirement specialists we believe we understand the needs of our customers better. And with almost 1.8bn of funds under management and our retirees relying on us for their income, you can trust us to keep your money safe. 2

3 It s time to enjoy your new pension freedom Retirement is an exciting new chapter of life. For the first time in 30 to 40 years you get to choose what you re going to do each day be it relaxing with friends, taking up new hobbies, or carrying on working. You could even start your own business (Colonel Sanders was 65 when he opened his first KFC). The point is it s entirely up to you. To prepare for this major life change you need to think carefully about how to make the most of your financial assets. New pension freedoms mean that you now have more choice and flexibility about what happens to your pension pot than ever before. But of course, before making any important decisions about your future, it s vital that you seek independent, expert advice. 3

4 What s important to you in retirement? Our years of experience have taught us that people most often look for certainty, flexibility and simplicity in retirement. I want a guaranteed income for life and be able to provide for my family when I m gone. I want to have the flexibility to alter my plans if my circumstances change, to access all or some of my money, and give it a chance to grow. We want to organise our retirement finances in one place, be able to reassess our options at regular intervals and pass any money left to our family in a tax efficient way. Based on the needs of our customers, we ve developed The Retirement Account, designed to help you make the most of your pension freedoms. By combining a Guaranteed Annuity and Pension Drawdown into one simple account, The Retirement Account offers considerable flexibility and choice helping you manage your pension investments and benefits in a tax efficient way. 4

5 What is a Guaranteed Annuity? When you retire, you need to make sure you have enough money to last the rest of your life. So, in return for some or all of your pension savings, a Guaranteed Annuity can pay you a secure, regular income for life, no matter how long you live. A Guaranteed Annuity may be a sensible way of covering your fixed day-to-day living expenses in retirement, alongside your state pension and any other sources of income. The downside is that, if you put all your money into a Guaranteed Annuity, you won t have a nest egg for unforeseen expenses (like paying for a new boiler or broken down car) or for treats (like holidays). Remember, inflation will reduce how much your income is worth over the years. What is Pension Drawdown? Pension Drawdown gives you more control over your savings and you can access your money whenever you want. Put simply, your money is allocated to funds that are invested in shares, bonds, property and other financial investments giving your pot of money a chance to grow and counter the effect of inflation. However, there is the potential risk of your investments not performing as well as hoped. If you put all of your money into Pension Drawdown you risk running out of money if your income or withdrawals are in excess of fund growth. It s difficult to budget when you don t know how long you re going to live. 5

6 the best of both worlds Instead of having to choose between a Guaranteed Annuity and Pension Drawdown, The Retirement Account gives you the option of combining the two. You can choose to have the security of a Guaranteed Annuity to cover your everyday living essentials such as food and utility bills. It also gives you the option of easy access and opportunity for growth of your Pension Drawdown funds - meaning you re ready for life s unexpected expenses and occasional treats. However the value of investments can go down as well as up. Both parts of the account can provide the ability to leave money to loved ones. 6

7 Guaranteed Annuity A guaranteed regular income to cover your everyday living essentials Pension Drawdown A pot of money to use as a nest egg and for occasional expenses or for regular income withdrawals Cash Account Funds from the Guaranteed Annuity and the Pension Drawdown are paid into here Because you decide what funds you take out of the Retirement Account, you can adjust how much income you receive and how much income tax you pay. 7

8 A snapshot of what The Retirement Account offers The ability to take up to 25% of your pension fund as a tax-free lump sum, with complete freedom to do what you like with the rest. The choice of how much of your money is invested in Pension Drawdown and how much will purchase a Guaranteed Annuity. You have the flexibility to alter your account as time goes by. For example, you may put all of your money in Pension Drawdown initially, but then gradually move funds to the Guaranteed Annuity as you get older. The flexibility to change your Pension Drawdown and Guaranteed Annuity income levels according to your lifestyle and financial planning needs. 8

9 The ability to take out lump sums from your Pension Drawdown whenever you want, to top up your guaranteed income, or for those unexpected times when a little extra money is needed. A range of thoroughly researched funds which you can invest in according to your preference at any time. The ability to pass on money to your loved ones. What s left in your Pension Drawdown can be passed on to whoever you wish. If you choose the option to protect some or all of the income in your Guaranteed Annuity, that can be passed on too. Tax planning features that can help you and your beneficiaries manage how much income you receive and how much income tax you pay throughout your retirement. 9

10 Guaranteed Annuity: How it works If you choose to purchase a Guaranteed Annuity within your Retirement Account, the income you receive will depend on a number of things including: The size of your pension fund used to buy the Guaranteed Annuity Your age and personal circumstances (for example where you live, your lifestyle or medical history) You ll also need to decide how you d like to receive your income, for example whether you want it to stay the same (level) or rise in line with inflation. You ll need to decide if you wish to make provision for loved ones in the event of your death. This provision could be in the form of an ongoing income for the rest of their life or a lump sum or both. You can also choose how often income is paid monthly, quarterly or yearly. Income will be paid in arrears which means we ll pay you at the end of your chosen period. 10

11 The Retirement Account Pension Drawdown: How it works With Pension Drawdown you can take as much or as little of your money as you want while it remains invested. So you can take no money out initially and just leave your funds invested, or you can take a regular income and/or just withdraw money from your fund when you want. 11

12 Choosing investment funds within Pension Drawdown What we offer: With Pension Drawdown, you ll need to choose investment funds that are right for you. Your financial adviser will help you do this. The Retirement Account offers a range of investment choices, including an option of both passive and actively managed funds. investments. The mix of assets in the fund will determine the balance between the potential risk and reward. Your financial adviser will discuss your investment preferences with you and select funds that match the type of investor you are. These funds may invest your money in shares, bonds, property and other financial CAUTIOUS BALANCED 12

13 Passive funds Passive funds track the performance of an index. This tracking is largely automated, so it s less expensive and passive funds tend to charge less than actively managed funds. Active funds Active funds are managed by a specialist investment manager, or team of specialists who have a certain amount of freedom over the specific investments they make. They use their knowledge and experience to try and beat the returns you could get by investing in passive funds. Making your choice You can find details of the investment funds available with The Retirement Account in the Investment Fund Summary Guide. All of our documents are available on our website along with daily unit prices and fund fact sheets. ADVENTUROUS Monitoring performance You can check how your chosen funds are performing on our website. Also, each year, we ll send you a statement showing the value of your funds. All of The Retirement Account funds have been thoroughly researched and have been carefully selected by Retirement Advantage, and an independent investment research business. Our investment specialists monitor the funds on a monthly basis so you can relax, knowing that your investments have the best opportunity to grow. 13

14 Providing for loved ones on your death Both parts of The Retirement Account can help you pass money on to your loved ones. Guaranteed Annuity The Retirement Account Guaranteed Annuity offers different ways to pass money on to your loved ones when you die. With the help of your adviser, you will usually select one or more of the following options (although it is not possible to choose both the Money-back guarantee and the Income Guarantee). Money-back guarantee This provides a lump sum on your death. The amount payable can be up to 100% of the amount you originally used to buy the Guaranteed Annuity, less all of the pension payments made to you at your date of death. in the event of your death, the annuity continues to be paid in full for the remainder of the Income Guarantee period. Dependant s income You can ensure that a dependant (spouse, partner or other dependant) receives a proportion of your income for the rest of their life should you die before them. The amount paid could be up to 100% of your income. Income guarantee You can choose to guarantee your annuity payments for up to 30 years. This means that 14 14

15 Pension Drawdown In the event of your death, any remaining Pension Drawdown funds will be made available to your loved ones. Because of the way The Retirement Account is structured your loved ones will have a great deal of flexibility in how they receive death benefits. This may prove useful if you die after the age of 75 in which case the benefits they receive are taxable. 15

16 Meet Jeremy Jeremy s 65 years old and has built up a 90,000 pension fund (after tax-free cash of 25%). He s had issues with his health over the last few years, so is keen to retire. He picks up a State Pension but aside from that this is his only source of income. His number one objective is to ensure that he generates enough regular income to see him through his retirement. In addition he would like a small amount of his savings to be accessible and would like to make sure his children end up with something should he die. His financial adviser suggests that Jeremy takes out a Retirement Account and using his 90,000 investment he: buys a Guaranteed Annuity with 75,000 of his investment. This provides him with just over 4,000 a year of secure lifetime income. uses the remaining 15,000 to invest in Pension Drawdown. His adviser helps him select a balanced fund, which invests in equities and other financial investments. He has complete freedom to dip into this investment whenever he wants. Jeremy sets up a 30-year guarantee on his Guaranteed Annuity. This would pay his beneficiaries an ongoing income after his death. So for example if he died after receiving 5 years of payments then the income would continue for another 25 years, or a lump sum could be paid immediately. The money in Pension Drawdown could be paid as a lump sum on his death. Guaranteed Annuity 75,000 4,000 a year Cash Account Pension Drawdown 15,000 To use as a regular income or as a nest egg Jeremy 16

17 Meet Rebecca Rebecca s a healthy woman aged 65 with a 150,000 personal pension fund. Her husband Sean is 63 and although he plans on working for a couple more years he has very little in the way of private and state pension entitlement. Rebecca currently receives a yearly pension income of around 15,000 from the State Pension and an ex-employer s final salary scheme. Given Sean s pension situation she d prefer it if she could have around 3,000 a year extra income right now ( 18,000 in total) to pay for life s essentials (food, clothing, gas, electric) with Sean s income on top. She s happy for some of her 150,000 to be used to secure that income but also wants the ability to dip into her savings for things like holidays, home repairs and emergencies. She is willing to take a little risk with her money but naturally errs on the conservative side. Her financial adviser suggests that Rebecca takes out a Retirement Account and using her 150,000 investment she: buys a Guaranteed Annuity with 54,000 of her investment. This provides her with the extra 3,000 a year of secure lifetime income. uses the remaining 96,000 to invest in Pension Drawdown. With her adviser she chooses an investment fund that suits her more conservative attitude to risk and she has the freedom to dip into her investment whenever she wants. Her adviser also explains that The Retirement Account is flexible enough to deal with their changing circumstances in retirement. So when Sean gives up work they may want to consider using more of her Pension Drawdown fund to secure more Guaranteed Annuity from her Account. They can review that at the time. Finally she agreed to set up death benefits which would provide a money-back guarantee should she die earlier than she hopes! Guaranteed Annuity 54,000 3,000 a year Cash Account Pension Drawdown 96,000 To use as a regular income or as a nest egg Rebecca Both of these examples are for illustrative purposes only. 17

18 Are you eligible? To qualify for The Retirement Account you must be at least 55 and no older than 85 (there is no maximum if you choose the Pension Drawdown option only). You and your financial adviser may need to provide us with some information about your health and lifestyle as part of your application, or we can call you to collect the relevant information. We will then provide you with a personally tailored quote, to get you the highest level of guaranteed income. To invest in the Retirement Account you need a minimum of 20,000 in pension funds after any tax-free cash has been paid to you (usually 25%). You must also be a resident in the UK when you apply, and when the policy starts. For full details of The Retirement Account, and other important information, please refer to The Retirement Account Key Features booklet. 18

19 And now for some advice Your finances are going to play a substantial role in your retirement. That s why we insist that if you haven t done so already you enlist a skilled and objective financial adviser to take a good look at your circumstances and long-term expectations. A financial adviser will assess which opportunities would serve you best, before committing to one (even if it means we may not be the right provider for you). For more information about finding a trusted, experienced adviser, please call or visit 19

20 If you would like a Braille, large print or audio version of this document please call us on The information in this document is based on our understanding as at September 2015 of current taxation, legislation and HM Revenue and Customs practice. All of these are liable to change without notice. The impact of taxation (and any tax reliefs) depends on individual circumstances. Telephone calls may be recorded for training and quality monitoring purposes. Retirement Advantage is a trading name of MGM Advantage Life Limited. Registered no Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Retirement Advantage and the Retirement Advantage logo are trademarks of MGM Advantage Life Limited. Registered in England and Wales. Registered office MGM House, Heene Road, Worthing, West Sussex, BN11 3AT /15

Flexible Income Annuity. An income for life with the potential to grow

Flexible Income Annuity. An income for life with the potential to grow Flexible Income Annuity An income for life with the potential to grow Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a well-established company that can trace

More information

Guaranteed Annuity. An income for life that will never fall

Guaranteed Annuity. An income for life that will never fall Guaranteed Annuity An income for life that will never fall 1 2 A guide to our Guaranteed Annuity Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a wellestablished

More information

The Retirement Account

The Retirement Account The Retirement Account Key Features This is an important document and you should read it before deciding whether to buy your Retirement Account from us Purpose of this document This Key Features booklet

More information

Guaranteed Annuity. Key Features. This is an important document and you should read it before deciding whether to buy your pension annuity from us

Guaranteed Annuity. Key Features. This is an important document and you should read it before deciding whether to buy your pension annuity from us Guaranteed Annuity Key Features This is an important document and you should read it before deciding whether to buy your pension annuity from us 2 Purpose of this document Guaranteed Annuity Key Features

More information

It s flexible. Key features of the Flexible Income Annuity. Flexible Income Annuity

It s flexible. Key features of the Flexible Income Annuity. Flexible Income Annuity It s flexible Key features of the Flexible Income Annuity Flexible Income Annuity This is an important document and you should read it before deciding whether to buy your pension annuity from us Purpose

More information

A guide to the pension changes in April 2015

A guide to the pension changes in April 2015 A guide to the pension changes in April 2015 106027837.indd 1 05/01/2015 10:00 Contents What do the changes mean for you? 3 Summary of the changes from 6 April 2015 5 What s changed in practice? 6 How

More information

Guaranteed Annuity. Policy Terms & Conditions

Guaranteed Annuity. Policy Terms & Conditions Guaranteed Annuity Policy Terms & Conditions Your Guaranteed Annuity Policy The Guaranteed Annuity is a contract of insurance between you and us formed by: your signed application this policy booklet,

More information

Buying a pension annuity

Buying a pension annuity Buying a pension annuity Why do I need to think about buying a pension annuity? When you come to retire, you will have some important decisions to make. Probably most important of all is how you will generate

More information

KEY FEATURES OF THE PROTECTED RETIREMENT PLAN

KEY FEATURES OF THE PROTECTED RETIREMENT PLAN KEY FEATURES OF THE PROTECTED RETIREMENT PLAN Customer version The Financial Conduct Authority is a financial services regulator. It requires us, LV=, to give you this important information to help you

More information

GUIDE TO RETIREMENT PLANNING FINANCIAL GUIDE. Making the most of the new pension rules to enjoy freedom and choice in your retirement

GUIDE TO RETIREMENT PLANNING FINANCIAL GUIDE. Making the most of the new pension rules to enjoy freedom and choice in your retirement GUIDE TO RETIREMENT PLANNING Making the most of the new pension rules to enjoy freedom and choice in your retirement FINANCIAL GUIDE WELCOME Making the most of the new pension rules to enjoy freedom and

More information

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account The Personal Range Key Features of the Individual Personal Pension Transfer Value Account Reference MPEN11/F 07.15 The Financial Conduct Authority is a financial services regulator. It requires us, Friends

More information

Your retirement income. Exploring your options

Your retirement income. Exploring your options Your retirement income Exploring your options Contents 02 What do you want to do with your pension fund? 07 A regular retirement income for the rest of your life 10 A flexible income from a Self Invested

More information

Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme Important information Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme > Contents About this booklet 4 About the Teachers AVC Scheme 5 Its aim 5 Your commitment 5 Risks 6 Questions

More information

With new options available from April 2015, we can help you plan your finances for a worry-free retirement

With new options available from April 2015, we can help you plan your finances for a worry-free retirement Your retirement With new options available from April 2015, we can help you plan your finances for a worry-free retirement Life is full of financial decisions and planning your retirement is one of the

More information

PENSIONS REFORM 6 APRIL 2015 YOUR QUESTIONS ANSWERED.

PENSIONS REFORM 6 APRIL 2015 YOUR QUESTIONS ANSWERED. PENSIONS REFORM 6 APRIL 2015 YOUR QUESTIONS ANSWERED. Following Government changes effective on 6 April 2015, there are different ways for anyone over 55 to access their defined contribution pension pots

More information

Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme

Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Important information you need to read The Financial Conduct Authority is a financial services regulator. It requires us, Prudential,

More information

Your options at retirement

Your options at retirement Your options at retirement How you can take your pension with us B&CE pension schemes include: The People s Pension EasyBuild Stakeholder Pension & EasyBuild S2P TUTMAN B&CE Contracted-out Pension Scheme

More information

Key Features of the Prudential Personal Pension Scheme

Key Features of the Prudential Personal Pension Scheme Key Features of the Prudential Personal Pension Scheme Important information you need to read The Financial Conduct Authority is the independent financial services regulator. It requires us, Prudential,

More information

Equity Release. A guide to our Lifetime Mortgage products

Equity Release. A guide to our Lifetime Mortgage products Equity Release A guide to our Lifetime Mortgage products Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a well-established company that can trace its roots back

More information

Use your home to your advantage. A guide to equity release

Use your home to your advantage. A guide to equity release Use your home to your advantage A guide to equity release 2 A guide to equity release Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a wellestablished company

More information

Flexible Income Annuity

Flexible Income Annuity Flexible Income Annuity Death Benefits For advisers For many people, making sure loved ones are provided for when they die is a top priority. The investment-linked Flexible Income Annuity from Retirement

More information

Conventional Lifetime Annuity Options Your Questions Answered

Conventional Lifetime Annuity Options Your Questions Answered Conventional Lifetime Annuity Options Your Questions Answered 0845 077 7077 (8.30am-6pm weekdays) Calls may be recorded for training and monitoring purposes. www.425fs.co.uk Contents 1. Introduction to

More information

Flexible Income Annuity

Flexible Income Annuity Flexible Income Annuity Transfers Out Flexible Income Annuity Transfers out One of the valuable features of Flexible Income Annuity (FIA) is the ability for your clients to transfer out at any time, and

More information

PLANNING THE RETIREMENT YOU WANT

PLANNING THE RETIREMENT YOU WANT PLANNING THE RETIREMENT YOU WANT Charlotte Supply Chain Graduate HEINEKEN UK Flexible Retirement Plan Contents A reminder of... How the Flexible Retirement Plan works 4 The benefits 6 Consider what you

More information

Conventional Lifetime Annuity Options Your Questions Answered

Conventional Lifetime Annuity Options Your Questions Answered Conventional Lifetime Annuity Options Your Questions Answered 0800 014 7470 0333 014 6267 am-5.30pm weekdays. Calls may be recorded for training and monitoring purposes. www.425fs.co.uk Contents 1. Introduction

More information

Let s talk pension flexibility The current position

Let s talk pension flexibility The current position Let s talk pension flexibility The current position 1 Let s talk pension flexibility the current position Change is coming. Budget 2014 heralded a shake-up of the pension system that will change how we

More information

A clear guide to your retirement options. We ll help you get there

A clear guide to your retirement options. We ll help you get there A clear guide to your retirement options investments pensions PROTECTION We ll help you get there Contents If you are retiring soon 3 Things to consider 4 Your options at a glance 6 Tax-free lump sums

More information

Important information. Key Features of the Guaranteed Pension Annuity

Important information. Key Features of the Guaranteed Pension Annuity Important information Key Features of the Guaranteed Pension Annuity Important information The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

Your retirement income. Exploring your options

Your retirement income. Exploring your options Your retirement income Exploring your options Contents 01 Accessing your pension savings with Standard Life 03 What do you want to do with your pension pot? 09 A regular retirement income for the rest

More information

Your guide to retirement savings and fund choices

Your guide to retirement savings and fund choices Your guide to retirement savings and fund choices The Global Connections Group Personal Pension Plan for employees automatically enrolled into the plan Contents What is The Global Connections Group Personal

More information

Your Guide to Pension Freedom

Your Guide to Pension Freedom Your Guide to Pension Freedom 3 From April 2015, individuals will have more freedom to access their pensions. These changes mark a radical departure from the existing system, by giving you greater choice

More information

Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales

Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales Important information you need to read The Financial Conduct Authority is an independent financial

More information

YOUR GUIDE TO RETIREMENT

YOUR GUIDE TO RETIREMENT YOUR GUIDE TO RETIREMENT www.phoenixlife.co.uk CONTENTS Page Purpose of this guide 3 Your pension options - Buying your pension income (annuity) from us 4 Your pension options - Buying your pension income

More information

Basic Guide to Retirement Income Options

Basic Guide to Retirement Income Options Basic Guide to Retirement Income Options Can I afford to retire? Which retirement income solution is best for me? Should I take all my tax-free cash entitlement? Will my family benefit from my pension

More information

retirement planning the retirement you want Heineken UK Flexible Retirement Plan

retirement planning the retirement you want Heineken UK Flexible Retirement Plan my retirement planning the retirement you want Heineken UK Flexible Retirement Plan Contents Get an overview of the Heineken UK Flexible Retirement Plan What is the Flexible Retirement Plan? 4 Your benefits

More information

MORE CHOICE MORE FREEDOM

MORE CHOICE MORE FREEDOM LOOK FORWARD TO MORE CHOICE MORE FREEDOM A guide to Income Release Pension Portfolio royallondon.com WELCOME TO ROYAL LONDON We re a mutual organisation and, unlike a PLC, we don t have any shareholders

More information

KEY FEATURES. CASH-OUT RETIREMENT PLAN

KEY FEATURES. CASH-OUT RETIREMENT PLAN 1 KEY FEATURES OF OUR CASH-OUT RETIREMENT PLAN CASH-OUT RETIREMENT PLAN KEY FEATURES. For customers who are not receiving financial advice. This is an important document that you should keep in a safe

More information

Using your AVC to protect your loved ones. Life Assurance

Using your AVC to protect your loved ones. Life Assurance Using your AVC to protect your loved ones Life Assurance > Of course, none of us want to die before we get to enjoy the freedom of retirement. But what if the worst did happen? You d want your loved ones

More information

Important information. Key Features of the Income Choice Annuity

Important information. Key Features of the Income Choice Annuity Important information Key Features of the Income Choice Annuity Important information The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

Group Additional Voluntary Contributions Plan Key features

Group Additional Voluntary Contributions Plan Key features Group Additional Voluntary Contributions Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator.

More information

Your guide to Annuities

Your guide to Annuities Your guide to Annuities From Standard Life It s good to know what s around the next corner 1 of 24 If you would like a secure source of income and have a built up pension fund or a lump sum to invest,

More information

Our guide to. buying an annuity

Our guide to. buying an annuity Our guide to buying an annuity 2 Our guide to buying an annuity Contents Introduction 3 Pension reforms Thinking about retirement 3 Money and budgeting How can we help? Your retirement timeline Key questions

More information

BUYING A PENSION ANNUITY.

BUYING A PENSION ANNUITY. PENSION ANNUITies BUYING A PENSION ANNUITY BUYING A PENSION ANNUITY. 1 This is an important, once and for all, decision. We want you to be confident that you have the information you need to make the right

More information

Group Flexible Retirement Plan

Group Flexible Retirement Plan Group Flexible Retirement Plan Key features illustration 4 Group Flexible Retirement Plan 1/20 We will send you a statement each so you can keep track of your benefits. Financial Conduct Authority is a

More information

The Oracle My Pension Plan. Giving you the power to choose

The Oracle My Pension Plan. Giving you the power to choose The Oracle My Pension Plan A Flexible Retirement Plan from Standard Life Giving you the power to choose Contents 03 Welcome 04 Benefits to you 06 Why should you join? 08 The state won t keep you warm 10

More information

25 Must Ask Annuity Questions

25 Must Ask Annuity Questions 25 Must Ask Annuity Questions When Can I Buy An Annuity? Who Is The Best Annuity Provider? Why Do I Need Advice? 1. What is an Annuity? If you have a private pension when you retire you can purchase an

More information

Planning a prosperous retirement

Planning a prosperous retirement Planning a prosperous retirement Towry s Guide to Retirement Planning About Towry We are one of the UK s leading Wealth Advisers and specialise in providing high quality, expert financial advice to private

More information

Pension benefits guide How you can use your pension pot to suit your needs

Pension benefits guide How you can use your pension pot to suit your needs Pension benefits guide How you can use your pension pot to suit your needs axawealth.co.uk With the flexibility you have to take benefits through your pension, it can be difficult to know what s best for

More information

Key Features. Pension Annuity. This brochure outlines the key features of the Just Retirement Pension Annuity. Contents

Key Features. Pension Annuity. This brochure outlines the key features of the Just Retirement Pension Annuity. Contents Pension Annuity Key Features This brochure outlines the key features of the Just Retirement Pension Annuity. The Financial Conduct Authority is a financial services regulator. It requires us, Just Retirement,

More information

Retirement Account Plan Key features

Retirement Account Plan Key features Retirement Account Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator. It requires us, Standard

More information

Key Features. Pension Annuity. This brochure outlines the key features of the Just Retirement Pension Annuity. Contents

Key Features. Pension Annuity. This brochure outlines the key features of the Just Retirement Pension Annuity. Contents Pension Annuity Key Features This brochure outlines the key features of the Just Retirement Pension Annuity. The Financial Conduct Authority is a financial services regulator. It requires us, Just Retirement,

More information

Key features of the Protected Retirement Plan

Key features of the Protected Retirement Plan Key features of the Protected Retirement Plan Customer version The Financial Conduct Authority is a financial services regulator. It requires us, LV=, to give you this important information to help you

More information

The five-step plan to a better retirement. A step by step guide to organising your finances

The five-step plan to a better retirement. A step by step guide to organising your finances The five-step plan to a better retirement A step by step guide to organising your finances This is one of the biggest financial decisions you ll make so it s important to get it right. At Fidelity we strongly

More information

Key features of the Zurich Retirement Account

Key features of the Zurich Retirement Account Key features of the Zurich Retirement Account Helping you decide This important document gives you a summary of the Zurich Retirement Account. Please read this before you decide to invest, and keep it

More information

Immediate Vesting Personal Pension Plan Key features

Immediate Vesting Personal Pension Plan Key features Immediate Vesting Personal Pension Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is the independent financial services regulator.

More information

Key Features of the Stakeholder Pension Scheme

Key Features of the Stakeholder Pension Scheme Key Features of the Stakeholder Pension Scheme Reference MPEN2/A 07.16 The Financial Conduct Authority is a financial services regulator. It requires us, Friends Life and Pensions Limited, to give you

More information

The Personal Range Key Features of the Individual Personal Pension

The Personal Range Key Features of the Individual Personal Pension The Personal Range Key Features of the Individual Personal Pension Reference MPEN11/A 04.16 The Financial Conduct Authority is a financial services regulator. It requires us, Friends Life and Pensions

More information

A GUIDE TO FINANCIAL GUIDE. New Pensions Freedom GIVING PEOPLE MORE CONFIDENCE TO SAVE INTO A PENSION

A GUIDE TO FINANCIAL GUIDE. New Pensions Freedom GIVING PEOPLE MORE CONFIDENCE TO SAVE INTO A PENSION FINANCIAL GUIDE A GUIDE TO New Pensions Freedom GIVING PEOPLE MORE CONFIDENCE TO SAVE INTO A PENSION WELCOME Giving people more confidence to save into a pension Welcome to our Guide to New Pensions Freedom.

More information

Accessing your Additional Voluntary Contribution (AVC)

Accessing your Additional Voluntary Contribution (AVC) Accessing your Additional Voluntary Contribution (AVC) Accessing your AVC savings Now is the time to start making decisions about your retirement and your future. One of the most important things to think

More information

A guide for customers

A guide for customers Pension Annuity A guide for customers Guaranteed income for life Pension Annuity If you re thinking... I want a secure income that is guaranteed to be paid for life, and I m not in the best of health.

More information

Active Money Personal Pension Key Features

Active Money Personal Pension Key Features Active Money Personal Pension Key Features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is the independent financial services regulator.

More information

Information about tax relief, limits and your pension

Information about tax relief, limits and your pension Information about tax relief, limits and your pension Published: August 2015 Laws and tax rules have changed in 2015. The information here is based on our understanding in August 2015. Your personal circumstances

More information

Additional Voluntary Contributions

Additional Voluntary Contributions Additional Voluntary Contributions Working in partnership with the Universities Superannuation Scheme to help you towards a more comfortable retirement Will you have enough money for retirement? As a member

More information

Preparing for 6 April 2015 Are you ready for Question Time?

Preparing for 6 April 2015 Are you ready for Question Time? Are you ready for Question Time? Background The new flexible pension regime will come into effect on 6 April 2015 There is already extensive press coverage of the changes In understanding the changes it

More information

Group Flexible Retirement Plan Key features

Group Flexible Retirement Plan Key features Group Flexible Retirement Plan Key features This is an important document. Please read it and keep it for future reference. Key features document: Pages 1 21 Terms and conditions for joining: Pages 22

More information

Key Features. of the Suffolk Life SIPP (Deed Poll Scheme)

Key Features. of the Suffolk Life SIPP (Deed Poll Scheme) Key Features of the Suffolk Life SIPP (Deed Poll Scheme) This document is part of a set, all of which should be read together. Key Features Your Personal Illustration Schedule of Fees Schedule of Allowable

More information

Important information. Key Features of the Prudential Savings Account Top Up Investment

Important information. Key Features of the Prudential Savings Account Top Up Investment Important information Key Features of the Prudential Savings Account Top Up Investment > Contents About this booklet 4 About the Prudential Savings Account 4 Its aim 5 Your Commitment 5 Risks 5 Questions

More information

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.

More information

Standard Life Active Retirement For accessing your pension money

Standard Life Active Retirement For accessing your pension money Standard Life Active Retirement For accessing your pension money Standard Life Active Retirement our ready-made investment solution that allows you to access your pension savings while still giving your

More information

Guide to SIPPs. Investment Helpdesk: 0131 550 1212. www.cs-d.co.uk

Guide to SIPPs. Investment Helpdesk: 0131 550 1212. www.cs-d.co.uk Investment Helpdesk: 0131 550 1212 www.cs-d.co.uk SIPP stands for Self Invested Personal Pension. SIPPs are a flexible type of personal pension. Like most, they are designed to provide a retirement pot

More information

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.

More information

KEY FEATURES OF THE SELF-INVESTED PERSONAL PENSION (SIPP) FOR INCOME DRAWDOWN OR PHASED RETIREMENT. Important information you need to read

KEY FEATURES OF THE SELF-INVESTED PERSONAL PENSION (SIPP) FOR INCOME DRAWDOWN OR PHASED RETIREMENT. Important information you need to read KEY FEATURES OF THE SELF-INVESTED PERSONAL PENSION (SIPP) FOR INCOME DRAWDOWN OR PHASED RETIREMENT Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR.

More information

Key Features Document

Key Features Document Keyfacts Key Features Document Transact Section 32 Buy Out Bond IntegraLife UK Limited A firm authorised and by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and

More information

Challenger Lifetime annuities

Challenger Lifetime annuities Challenger Lifetime annuities Regular and secure income for life Challenger Lifetime annuities A Challenger lifetime annuity is a secure investment that protects your savings and can provide an income

More information

Welcome to NEST. All the key information you need about being a member of NEST

Welcome to NEST. All the key information you need about being a member of NEST Welcome to NEST All the key information you need about being a member of NEST 2 Please write your NEST ID here: You ll find this number on the letter that came with this booklet. Welcome to NEST Building

More information

Key Features of the Guaranteed Pension Annuity

Key Features of the Guaranteed Pension Annuity Key Features of the Guaranteed Pension Annuity Important information you need to read The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

Contents: What is an Annuity?

Contents: What is an Annuity? Contents: What is an Annuity? When might I need an annuity policy? Types of annuities Pension annuities Annuity income options Enhanced and Lifestyle annuities Impaired Life annuities Annuity rates FAQs

More information

Key features. For customers One Retirement

Key features. For customers One Retirement For customers One Retirement Key features Contents Its aims 02 Your commitment 02 Risks 03 Questions and answers 04 Secure retirement income (SRI) 08 Other information 11 How to contact us 12 The Financial

More information

IMPORTANT DOCUMENT PLEASE READ WESLEYAN PERSONAL PENSION PLAN

IMPORTANT DOCUMENT PLEASE READ WESLEYAN PERSONAL PENSION PLAN IMPORTANT DOCUMENT PLEASE READ WESLEYAN PERSONAL PENSION PLAN 02 Wesleyan Personal Pension Plan KEY FEATURES OF THE WESLEYAN PERSONAL PENSION PLAN The Financial Conduct Authority is a financial services

More information

Pension saving for the self employed

Pension saving for the self employed April 2014 Contact Details We can be contacted at: The Pensions Advisory Service 11 Belgrave Road London SW1V 1RB Helpline 0845 601 2923 General Office 020 7630 2250 Fax 020 7592 7000 For enquiries, please

More information

KEY GUIDE. Pensions freedom drawing from your pension

KEY GUIDE. Pensions freedom drawing from your pension KEY GUIDE Pensions freedom drawing from your pension Radical reform The changes revealed in the 2014 Budget were described by some retirement planning experts as a pensions revolution. The radical proposals

More information

Taking your money out of NEST

Taking your money out of NEST Taking your money out of NEST 2 About this booklet This booklet is designed to help you think about what you want to do with your money when you take it out of NEST. It doesn t give you financial advice

More information

Making the right pension transfer decision

Making the right pension transfer decision Making the right pension transfer decision Clearing away confusion between QROPS, SIPPs, and QNUPS Over 30 years experience providing independent pension advice to expatriates and people working abroad

More information

SIPP ISA Dealing Junior ISA SIPP benefi ts guide

SIPP ISA Dealing Junior ISA SIPP benefi ts guide SIPP ISA Dealing Junior ISA SIPP benefits guide Contents Introduction SIPP benefits - the basics Annuity, income drawdown and taxable lump sums the commitments and risks 3 Your benefits options Lump sums

More information

KEY FEATURES OF THE INCOME DRAWDOWN PLAN. Important information you need to read

KEY FEATURES OF THE INCOME DRAWDOWN PLAN. Important information you need to read KEY FEATURES OF THE INCOME DRAWDOWN PLAN Important information you need to read THE FINANCIAL CONDUCT AUTHORITY (FCA) IS A FINANCIAL SERVICES REGULATOR. IT REQUIRES US, SCOTTISH WIDOWS, TO GIVE YOU THIS

More information

KEY GUIDE. Investing for income when you retire

KEY GUIDE. Investing for income when you retire KEY GUIDE Investing for income when you retire Planning the longest holiday of your life There comes a time when you stop working for your money and put your money to work for you. For most people, that

More information

A guide to pension tax

A guide to pension tax A guide to pension tax Footer info Zurich Blue 2 or White Contents About this guide 3 Tax treatment of payments 4 Eligibility to receive tax relief on payments Tax relief on payments made to pension schemes

More information

partnership pension account A guide to available benefits

partnership pension account A guide to available benefits partnership pension account A guide to available benefits Contents partnership pension account 3 Paying into your pension 4 Choosing your pension fund 8 How to open a partnership pension account 13 Leaving

More information

An Explanation of Pension Terms

An Explanation of Pension Terms abcdef An Explanation of Pension Terms Pension Term / Name Annual allowance Annuitant Annuity Bonuses Commutation Commutation for Smaller Pension Funds 10,000 or less Also Known or Previously Known As

More information

Options available when deciding to take pension benefits

Options available when deciding to take pension benefits Options available when deciding to take pension benefits You can now use the money that has built up in your pension fund to provide you with an income in retirement. An income can be provided in any of

More information

Annuities. A Quick Guide. CIB Retirement Solutions

Annuities. A Quick Guide. CIB Retirement Solutions CIB Retirement Solutions Annuities A Quick Guide CIB Retirement Solutions Beta House, Laser Quay, Culpeper Close, Rochester, Kent. ME2 4HU Tel: 01634 729990 Fax: 0845 528 1116 Email: pensions@cibretirement.com

More information

This way to more information

This way to more information Please keep this booklet safe This way to more information This Member Booklet will take you through what you need to know about The People s Pension For people, not profit Contents: Page Understanding

More information

Helping your loved ones. Simple steps to providing for your family and friends

Helping your loved ones. Simple steps to providing for your family and friends Helping your loved ones Simple steps to providing for your family and friends Contents 01 How can I take control of who gets what? 02 Inheritance Tax 04 Do you know how much you re worth? 06 Making lifetime

More information

MAKING RETIREMENT CHOICES CLEAR. A consultation on simplifying language on retirement options. April 2016

MAKING RETIREMENT CHOICES CLEAR. A consultation on simplifying language on retirement options. April 2016 MAKING RETIREMENT CHOICES CLEAR A consultation on simplifying language on retirement options April 2016 @BritishInsurers Objective of this consultation and draft Guide This consultation seeks stakeholders

More information

A Guide to Approved Retirement Funds (ARF)

A Guide to Approved Retirement Funds (ARF) & Guidance RF A Guide to Approved Retirement Funds (ARF) A Guide to Approved Retirement Funds Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would

More information

A Guide to Releasing Capital from your Home

A Guide to Releasing Capital from your Home Advice for older people A Guide to Releasing Capital from your Home Advice provided by Advice for older people FirstStop Advice brings together the expertise of some of the most trusted and respected organisations

More information

Your Guide to Equity Release

Your Guide to Equity Release Equity release has enabled me to go on more holidays, purchase a new car and make some major household purchases. The service provided met our financial needs in an efficient and helpful way. John, Sutton

More information

STAKEHOLDER PENSION. KEY FEATURES. This is an important document that you should read and keep in a safe place. You may need to read it in future.

STAKEHOLDER PENSION. KEY FEATURES. This is an important document that you should read and keep in a safe place. You may need to read it in future. STAKEHOLDER PENSION KEY FEATURES. This is an important document that you should read and keep in a safe place. You may need to read it in future. 2 STAKEHOLDER PENSION KEY FEATURES USING THIS DOCUMENT.

More information

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities...

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities... An Insider s Guide to Annuities Whatever your picture of retirement, the best way to get there and enjoy it once you ve arrived is with a focused, thoughtful plan. Introduction 2 What is an Annuity?...

More information

KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY.

KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. PENSION ANNUITIES KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. HELPING YOU MAKE THE RIGHT DECISIONS FOR YOUR FUTURE This is an important document that you should keep in a safe place. 02 KEY FEATURES

More information