G4S Personal Pension Plan Employee Guide

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "G4S Personal Pension Plan Employee Guide"

Transcription

1 G4S Personal Pension Plan Employee Guide Expiry 05/04/16

2 Section Page number Introduction 1 Contacts 1 What the Plan can offer you 2 How does the Plan work? 3 Contribution levels 4 Contribution limits 4 How your policy is invested 5 Plan charges 6 Other investment options 7 Keeping track of your policy 7 Retirement benefits 8 State pension provision 9 Important information 9 Plan regulation 10 Frequently asked questions 11

3 Introduction This guide outlines the features and benefits that will be provided for you and your dependants if you are a member of the G4S Personal Pension Plan (the Plan). The Plan is a qualifying workplace pension scheme for auto enrolment purposes. G4S will pay contributions on your behalf, on top of your normal salary. You will have your own policy under the Plan and have control over how much you contribute, where your money is invested and flexibility over how you take your pension when you choose to retire. All money paid into your policy will belong to you and you will benefit from tax relief from the government. If you die before you start to receive your pension, the value of your fund as at the time of your death will be payable to your dependants or your estate. This guide complements the Key Facts documents and investment information which can be found on Friends Life website. Please ensure that you read these documents. Contacts If you would like to speak to someone about the Plan, you can call the pension helpline on The helpline is run by Friends Life. If you prefer, you can your query to Friends Life PO Box 1550 Milford Salisbury SP1 2TW Telephone:

4 What the Plan can offer you 1 Contributions from the company and tax relief on your contributions Contributions from the company as set out in your contract of employment Full tax relief on your contributions for most UK employees Up to 25% of your fund value as tax-free cash if taken either as a one-off payment or in instalments 2 Protection for your family If you die before you reach 75 then the value of your pension fund is payable, taxfree, to your beneficiaries If you die after 75, and have not purchased an annuity, then your beneficiaries will receive the value of your pension fund, although this will be subject to a tax charge The option to secure a dependant s income if you purchase an annuity with your pension pot In addition you may be covered by the company s separate life assurance scheme* * You should refer to your employment contract for details of your entitlement to life assurance. 3 Personal ownership Your policy and all contributions belong to you, not the company You can suspend your membership at any time, however by doing this you will then be subject to the requirements of the auto enrolment legislation, which may result in you being automatically enrolled into a compliant pension arrangement. Further information would be provided at the time along with details of how to opt-out if you do not want to remain a member of the Plan. You do not need to stop working to access your pension pot You can transfer funds from other pension arrangements into your policy and your fund is transferrable to other suitable pension arrangements. It is recommended that you take advice to ensure that you fully understand the decision being taken. 2

5 How does the scheme work? There are three main areas for you to consider. 1) How much you pay in (your contributions): As a general rule the more you save the higher your pension is likely to be. It is therefore important that you review the level of contributions being made every year. When deciding how much to contribute you should think about the level of income you will need when you retire. 2) Where you invest your contributions: When you join the Plan your contributions are automatically invested in the default investment option, which is explained in greater detail later on this guide. There are also a number of investment funds available for you to choose from if you do not think that the default fund meets your investment preferences or personal circumstances. It is therefore important that you understand your investment preferences and there are tools on the Friends Life website that can help you. In the context of pension saving investment concepts are relatively straightforward. - Firstly, the funds have different levels of risk. The higher the risk the higher the potential level of return but equally there is a greater chance of making a loss. - Secondly, the funds have different levels of volatility. Funds that are more volatile are likely to have larger differences between the highs and the lows of the value of the funds. Funds with lower volatility will not have such extremes between the highs and the lows and therefore your fund value should increase but with lower levels of fluctuation. - Thirdly, investment manager charges reduce the value of your fund and therefore your overall pension. Generally, the charges are linked to the complexity of the fund and the level of skill needed by the investment manager to meet the objectives of the fund. Only you can decide the level of risk and volatility that you re prepared to accept and in turn whether you think the associated costs are good value. It is also likely that your attitude changes as you get older because certainty over your fund value becomes more important. The important point is that you give some consideration to your preferences so that you can select investment funds that match your preferences. 3) The choices you make at retirement When you retire your pension pot does not automatically convert into a pension. When you retire there will be a number of options available to you and these are explained in more detail on Pages 7 & 8. With effect from April 2015 those over 55 will be able to withdraw as much money from their pension pot as they wish without the previous restrictions. Unless you choose to take all of your tax free cash in one go then each time you take cash from your pension account you will receive 25% of the amount taken tax-free. You will receive more information about the options available to you as you approach retirement. 3

6 Contribution levels You will normally be required to contribute a percentage of your Pensionable Salary. You will receive a separate letter from the company confirming the percentage you are required to pay, and the definition of Pensionable Salary. This percentage is the minimum amount you must pay in order to receive a company contribution. You can pay more if you wish, subject to certain limits (see below). Your regular pension contribution will be deducted from your take-home pay, net of basic rate tax at 20%. For example, if you pay personal contributions of 10, then 8 will be deducted from your take-home pay. When your contribution reaches Friends Life they will claim basic rate tax relief (in this example it will be 2) on your behalf and immediately credit this to your account. This means that, in the example, the total member contribution invested will be 10, but only 8 will have been deducted from your take home pay. If you are a higher rate tax payer, you will normally be entitled to additional tax relief which you can claim through self-assessment, or by requesting a change to your tax code from your local tax office. You can also make single contributions directly to your policy. See the Frequently asked questions section for further details. If your employer operates a Salary Sacrifice scheme then you will receive separate communication about how the Salary Sacrifice scheme operates. Contribution limits There is a limit on the level of contributions that can be made to a pension plan and receive tax relief, which is the greater of 3,600 or 100% of your earnings per annum. Contributions to all pension plans in your name are subject to an overall limit known as the Annual Allowance. The annual allowance for the 2015/16 tax year has been set at 40,000. Any contributions in excess of the annual allowance are subject to a variable tax charge of up to 45%. You should seek independent financial advice if you believe you may be affected by the Annual Allowance in this or any future tax years. There may be a charge for this service. 4

7 How your policy is invested The Plan is invested through Friends Life, who provide a range of funds for you to choose from. When you join the Plan you will be automatically invested in the default investment option which is called the G4S Investment Programme (you may see this described as a lifetime investment programme on some Friends Life systems). The G4S Investment Programme is designed so that your contributions are invested in different funds depending on the amount of time you have left until retirement: At first, all your contributions are invested in the FL G4S Long Term Capital Growth Fund (unless you are within 4 years from your selected retirement age). The FL G4S Long Term Capital Growth Fund invests in a range of asset classes including equities, gilts, bonds, cash and derivatives. It aims to achieve long term capital growth with less volatility than conventional equity funds. As you get closer to retirement your pension pot will be gradually moved, on a monthly basis, into bonds and gilts which have a lower investment risk. The reason for this is to protect the level of pension you can buy with your fund. Your pension pot will be switched into a Cash fund, which is widely regarded as having the least level of investment risk. By the time you reach retirement 25% of your pension pot will be invested in the Cash fund with the remainder being held in bonds and gilts. The chart below highlights the stages outlined above: The move from being invested entirely in the FL G4S Long Term Capital Growth Fund to the final asset allocation takes four years and starts automatically based on your selected retirement age. This is automatically set at 65 when you join the Plan, but you can change it at any point by contacting Friends Life. Under the current law the minimum age you can select is 55. If your pension pot is invested in the G4S Investment Programme, it is not possible to invest in other funds at the same time. You can choose to remain in the G4S Investment Programme or you can select other funds (see Other Investment Options below). For further information on your investment options please contact Friends Life, whose details can be found on Page 11 of this guide. Please note that the default option does not represent a recommendation from the company or the company s investment advisers and you should select the appropriate funds to suit your own needs. 5

8 Plan charges As a member of the Plan, you will pay a charge, known as the Annual Management Charge (AMC). This covers the cost of administration and your investment in the funds you have chosen. The AMC is calculated each day based on the value of your account. On a monthly basis, Friends Life adds up the amount of the AMC and deducts this from your account with all deductions being shown on your annual statement. The AMC is made up of two core elements: The core plan AMC which covers the cost of administration. G4S has negotiated an AMC with Friends Life of 0.40% per annum for its employees investing through the Plan. Some fund managers (typically those who offer actively managed funds, where the level of skill in managing the fund, and the complexity of the investment vehicles used to meet the objectives of the fund are greater) charge an additional AMC for investing in their funds. If you choose to invest in one of these funds, you will pay an additional AMC. The AMC for each of the funds available to you is shown in the Choosing your own investment funds brochure. The FL G4S Long Term Capital Growth fund (the Plan s default option) is an example of such a fund and includes an additional charge of 0.19%. This higher charge reflects the fact that the fund is less volatile than might otherwise be expected. Whether you want to remain in this fund will be determined by your personal preferences and overall attitude to investment risk. Additionally, some funds carry additional expenses these are costs that are incurred by the fund manager in managing the assets in the fund, and include things such as fees to auditors, trustees and valuers. These expenses are not taken as an explicit deduction rather, they are taken into account when the fund manager calculates the daily unit price and is therefore automatically built into the value of your account. Details of where these additional expenses apply are also shown in the Choosing your own investment funds brochure. The level of AMC taken depends on the value of your account and the funds in which you have chosen to invest. Where you have chosen to invest in more than one fund, the AMC will be deducted proportionately across all of the funds you have chosen (based on the value invested in each fund and the AMC for the fund you have chosen). For full details of all funds available to you in the Plan and their charges, including expenses, please refer to the Friends Life Choosing your own investment funds brochure. 6

9 Other investment options You can invest in any one (or more) of the investment funds, up to a maximum of ten at any one time, listed in the Friends Life Choosing your own investment funds brochure, including the FL G4S Long Term Capital Growth Fund. There is a wide selection of funds available for you to invest in, ranging from very high risk to very low risk and covering different asset classes such as bonds, equities, property and cash. In addition, there are two lifestyle investment programmes offered by Friends Life. These have a similar structure to the default G4S Investment Programme (i.e. your investments are automatically switched to lower risk funds as you approach retirement), but with different timescales and mixes of investment funds. It is important to bear in mind that past performance of funds is not a guide to future returns. The value of your investment can fall as well as rise, and you may get back less than you invested Changing your investment decision You are able to change your investment decision at any time without charge. A fund switch form can be obtained on request from Friends Life, or changes can be made via Friends Life s website which can be found at Friends Life can discuss your options regarding fund selection through the pension helpline on The helpline can provide information only and is unable to recommend any particular fund(s). Keeping track of your policy You are able to access your policy details online and request changes, as well as use Friends Life s interactive pension planning tools. Details of how to do this will be provided once you join the Plan. It is your responsibility to ensure that the information held by Friends Life is up to date. This includes changes of name and/or address. Each year you will receive a written benefit statement from Friends Life, which will show all contributions paid, the value of your policy and an illustration of the benefits which may be available to you at retirement. Details of the investment performance of your chosen fund(s) will also be available from Friends Life s website 7

10 Retirement benefits The normal retirement age for the Plan is 65 but you can access your pension pot at any point from the age of 55. You can choose to access your pension pot even if you continue to work. No guarantee is given regarding the future income that this Plan will provide. The final value will depend on factors such as the amount of money paid into your plan, any additional funds that may have been transferred in, the investment returns achieved, and the options you select when you retire. It is important to understand that the pension pot that you build up with Friends Life will not automatically pay you an income on retirement. When you reach retirement age you will have a number of options available to you and some of these are summarised below: Annuity purchase provides a secure, guaranteed taxable income for life. It is important to understand you do not need to buy your annuity with Friends Life. You may find you are able to secure a higher income by shopping around - this is known as the Open Market Option ( OMO ). You do not need to convert all of your pension pot into an annuity as the current legislation allows you to take up to 25% of your pension pot as a tax free lump sum. From April 2015 those over 55 will be able to withdraw as much money from their pension pot as they wish without the previous restrictions. You can choose to take all of your tax free cash in one go or you can take your money in instalments such that each time you take cash from your pension account you will receive 25% of the amount taken tax-free. Income drawdown enables your pension pot to remain invested whilst providing an income under either a capped or flexible arrangement. Points to consider when purchasing an annuity You may prefer to purchase an annuity as this provides the security of a guaranteed income for life. When purchasing an annuity it is important to remember that you will have an open market option, which means that you will be able to purchase your pension from the provider offering the best terms to you. In addition you can add additional features to your annuity including: Payments can be guaranteed for a minimum period The pension may continue, in whole or in part, to your spouse, civil partner or dependant(s) after your death The pension can increase in payment each year You should note that the more options you add to your pension, the lower your initial pension will be. Maximum benefits If the total value of your pension benefits (i.e. the value of your policy plus the value of any other pension benefits you may have) exceeds the Lifetime Allowance then benefits in excess of the allowance will be subject to a tax charge. The allowance is 1.25m for the 2015/16 tax year and it will fall to 1m for the 2016/17 tax year. Please note that at the point of your death, any death in service benefits you may be entitled to will also be included in the Lifetime Allowance test. If you think you could be affected by the Lifetime Allowance in this or any future tax years, you should seek independent financial advice. There may be a charge for this service. 8

11 State pension provision Following on from government proposals, it has been announced that the introduction of a single tier state pension will be brought forward by one year to 6 April This will replace the Basic and Second State Pensions. The amount of flat-rate pension paid would depend on the number of years you have worked for and subsequently paid National Insurance Contributions for (known as qualifying years). To receive the maximum pension you need 35 qualifying years and would receive pro-rata amounts for fewer qualifying years, subject to a minimum of 8 years. Rights already earned to a Second State Pension will not be lost. The new single tier State pension will be 144 a week (in terms) plus a protected amount that would be calculated for any Second State Pension greater than 37 a week. Important information This guide is intended to be a summary. Whilst every effort has been made to ensure that it is accurate, if there is any difference between the terms and conditions of your individual policy with Friends Life and this guide, the policy will apply. All information provided in this guide is based on HM Revenue & Customs (HMRC) figures and regulations for the 2015/16 tax year. If you have any queries regarding the guide, you should contact Friends Life in the first instance. Friends Life will able to provide general information in respect of this guide. You can contact them on either or at Please ensure you read all accompanying literature provided to you with this guide. More general information on pensions and finance can be found at Amendment or termination The company reserves the right to amend or withdraw the Plan at any time. This is inclusive of the right to increase or decrease employer contributions provided that these do not fall below the minimum required to comply with legislation. However, by law, the company must continue to maintain your membership of a scheme that meets certain government standards. Therefore if your membership of such a scheme ends (and it is not because of something you do or fail to do), you will be put into another scheme that meets government standards straightaway. Cancellation rights You have the right to cancel your policy within 30 days of receiving your cancellation notice. If you decide to cancel your policy, your personal contributions will be returned net of basic-rate tax relief. This may be subject to any fall in value. 9

12 Plan regulation Please ensure you read Friends Life s Key Facts documents and accompanying literature before joining the plan. Your policy is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if the administrators of the pension scheme cannot meet their obligations. The amount of compensation depends on the type of business, the funds you are invested in and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS on or by Making important decisions It is recommended that you obtain financial advice when making decisions about your retirement as it is a complex area and in order to obtain the best income in retirement it is important that you make the correct decision for you. The company has appointed a company to help with your retirement planning who are specialists in securing the best annuity rates and are also experienced in the area of income drawdown. Further details can be found on the G4S intranet site 10

13 Frequently asked questions What is the G4S Personal Pension Plan? It is a pension plan to which you can contribute and receive contributions from your employer. You will have your own policy under the plan, which belongs to you. The plan is administered by Friends Life. Is this plan linked to automatic-enrolment? G4S is required by law to automatically enrol certain staff into a workplace pension scheme and it has selected this Plan for that purpose. Further information on the process for automatic enrolment will be provided to you where relevant. Further information on automatic enrolment can be found at How much will my pension pot be worth? The value of your pension pot will depend on the contributions paid to your policy by you and the company, the investment performance of the funds in which contributions are invested, the effect of the annual management charge and the options you select when you retire. How is my policy invested? You have control over how your funds are invested and can choose from a wide range of investment funds. A default fund has been established if you do not wish to make investment decisions yourself. Please refer to the section of this guide entitled How your policy is invested. Can I make single contributions to the plan? If you wish to make a single contribution from your own bank account into your policy, you should contact Friends Life directly on or in writing at the address below. In some instances, you will be required to provide proof of identity for antimoney laundering purposes. You will automatically receive basic-rate tax relief on any single contributions you make, provided that your total contributions are within the limits applicable at the time of payment. Your payment should therefore be for the amount you wish to invest, less basic-rate tax relief. You can work this out by multiplying the amount you wish to be invested by 0.8. Are there any limits to the amount I can contribute or save in my pension? Yes, there are limits on both the amount you can contribute and the amount you can save. See the sections of the guide entitled Contribution limits and Retirement benefits for further details. Can I transfer existing pension arrangements into the plan? Yes, however you should be certain that doing so would be in your best interests and you may wish to seek independent financial advice, for which there may be a charge. Some pension arrangements have guarantees or additional benefits that would be lost on transfer. What happens if I leave the company? Because your policy belongs to you, in the event of leaving the company you will retain your policy at its full value. Unless you are eligible to draw benefits, your fund must remain invested in a suitable pension policy but you have the option to transfer it away from Friends Life or carrying on making personal contributions should you wish. If you are considering transferring, you should consider the charges, options and rules under the receiving pension policy or scheme and be comfortable that transferring is in your best interests. You may wish to seek independent financial advice regarding this choice. There may be a charge for this service. When can I access my pension pot? You can access your pension pot from age 55. You may be able to take your benefits earlier if you retire through serious ill health. The decision whether to allow early retirement in these circumstances will be made by HM Revenue & Customs. How can I access my pension pot? Please refer to the Section called Retirement Benefits on pages 7 & 8 of this guide. 11

14 How much state pension will you get? A projection of your state pension(s) can be obtained either online or via post. Details of how to do this can be found at: How does joining this plan affect Pension Credit? Depending on your total level of retirement income, you may also be eligible for Pension Credit. This has two elements; a guarantee credit to ensure a minimum level of income for those aged over 60, and a savings credit which will provide an additional income from age 65 for pensioners who have made some provision for their retirement. The minimum level of income provided under the guarantee credit will be means tested and therefore will take into consideration any private pension savings, including income arising from a group pension. The retirement benefits arising from your membership of the plan could therefore affect either Pension Credit payments. For further information please refer to the Department for Work and Pensions website at What happens to my pension fund if I die and have not purchased an annuity? If you die before the age of 75 then the value of your pension fund, as at the time of your death, will be paid to your dependants or estate. This will normally be paid free of tax but will be measured against your Lifetime Allowance please see the section entitled Retirement benefits in this guide. If you die after the age of 75, the value of your pension fund at the time of death can still be paid to your dependents. Any payments will be subject to a tax charge. The level of the tax charge will depend on whether the beneficiary takes the money as a lump sum or as an income stream. If taken as a lump sum then a tax charge of 45% will be applied. If taken as an income stream then the income will be taxed based on the beneficiaries marginal rate. The decision on whom the benefits will be paid to is at the discretion of Friends Life, however you can nominate a chosen beneficiary or beneficiaries by completing a nomination form and sending this to Friends Life. This will then be taken into consideration when a decision is made. The form will be provided with your policy documents upon joining but it is important that this form is updated should your personal circumstances or requirements change. What happens to my pension if I die and have bought an annuity? This will depend on the benefits you selected when purchasing your annuity. You can elect to have your pension paid in full for a guaranteed period. You can also secure a pension payable to your spouse, civil partner or dependants in the event that you die before them. The more benefits you add to your annuity, the lower your initial pension will be. If you purchase a single life annuity without a guaranteed period then there will be no further payments to your dependents following your death. Is my pension fund secure? Your pension fund belongs to you and is not an asset of your employer. The day to day value of your fund will depend on the performance of your chosen investment fund(s) and may go down as well as up you should therefore ensure you select investment funds that suit your attitude to risk. Your policy is covered by the Financial Services Compensation Scheme. Please refer to the section in this guide entitled Plan regulation for further information. My question is not answered here who should I speak to? If you have a question about the pension scheme, please contact Friends Life. Friends Life PO Box 1550 Milford Salisbury SP1 2TW Telephone:

KEY FEATURES OF THE GROUP STAKEHOLDER PENSION SCHEME

KEY FEATURES OF THE GROUP STAKEHOLDER PENSION SCHEME KEY FEATURES OF THE GROUP STAKEHOLDER PENSION SCHEME The Financial Conduct Authority is a financial services regulator. It requires us, Friends Life Limited to give you this important information to help

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

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

Key features of the Home Retail Group Personal Pension Plan

Key features of the Home Retail Group Personal Pension Plan Key features of the Home Retail Group Personal Pension Plan This is an important document which you should keep in a safe place. You may need to read it in future. Home Retail Group Personal Pension Plan

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

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

DB Personal Pension Plan

DB Personal Pension Plan Deutsche Bank Human Resources DB Personal Pension Plan Handbook for employees of DB Group Services (UK) Limited DB Personal Pension Plan Contents Introduction 4 What is the Group Personal Pension Flex?

More information

Group Personal Pension Key features

Group Personal Pension Key features Group Personal Pension Key features This is an important document. Please read it and keep for future reference. Key features document: Pages 1 17 Terms and conditions for joining: Pages 18 20 The Financial

More information

Group Flexible Retirement Plan. Staff Guide

Group Flexible Retirement Plan. Staff Guide Group Flexible Retirement Plan Staff Guide Terms and information you may need to know Company Jones Lang LaSalle and any other company participating in the Plan. Contribution rates The contribution rates

More information

Norwich Union Stakeholder Pension. Your Guide

Norwich Union Stakeholder Pension. Your Guide Norwich Union Stakeholder Pension Your Guide Welcome to Norwich Union By choosing Norwich Union, you benefit from the financial strength of the UK s largest insurer. Together with millions of customers,

More information

Elevate. Your guide to the Elevate Pension Investment Account. I need a pension that will look after me and my family

Elevate. Your guide to the Elevate Pension Investment Account. I need a pension that will look after me and my family Elevate Your guide to the Elevate Pension Investment Account 1 I need a pension that will look after me and my family What is Elevate? 5 What is the Elevate PIA? 6 Choosing Investments 12 Your options

More information

Self Invested Personal Pension for Wrap Key Features

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

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. The Financial Services Authority is the independent 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

Key Features of the Flexible Retirement Income Plan

Key Features of the Flexible Retirement Income Plan Key Features of the Flexible Retirement Income Plan The Financial Conduct Authority is a financial services regulator. It requires us, Friends Life Limited, to give you this important information to help

More information

O P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET

O P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET O P Q RETIREMENT & DEATH BENEFITS PLAN For Employees of The OPQ Company MEMBERS' BOOKLET 2014 EDITION Reviewed January 2014 INTRODUCTION This booklet is an overview of the main benefits and conditions

More information

Key features of the Aviva Self Invested Personal Pension

Key features of the Aviva Self Invested Personal Pension Key features of the Aviva Self Invested Personal Pension Retirement Investments Insurance Health Key features of the Aviva Self Invested Personal Pension The Financial Conduct Authority is a financial

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

Ceridian Futures Retirement Plan

Ceridian Futures Retirement Plan Ceridian Futures Retirement Plan Summary of Benefits Summary of Benefits Ceridian Futures Retirement Plan 1 Summary of Benefits Introduction Who is eligible? How the Plan works Contributions The Ceridian

More information

GROUP PERSONAL PENSION

GROUP PERSONAL PENSION GROUP PERSONAL PENSION Employee booklet Medway Community Healthcare CIC Registered Office: Unit 5 Ambley Green, Bailey Drive, Gillingham Business Park, Gillingham, Kent ME8 0NJ Tel: 01634 382777 Registered

More information

Beaufort Self Invested Personal Pension. Key Features Document

Beaufort Self Invested Personal Pension. Key Features Document Beaufort Self Invested Personal Pension Key Features Document Introduction The purpose of this document is to provide important information to help you to decide whether our SIPP is right for you. You

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. The Financial Conduct Authority is a financial services regulator. It requires

More information

Your guide to the Universities Superannuation Scheme

Your guide to the Universities Superannuation Scheme Your guide to the Universities Superannuation Scheme February 2016 02 Contents The document contains the following sections: Contents 02 About this guide 03 Your USS at a glance 04 Joining the scheme 05

More information

New Pension Arrangements for Staff in Grades 1 to 5 Information for Active PAS members

New Pension Arrangements for Staff in Grades 1 to 5 Information for Active PAS members New Pension Arrangements for Staff in Grades 1 to 5 Information for Active PAS members Gary Hague, Finance Office Steve Palmer, FriendsLife SPECIAL Introduction Following the recent consultation exercise

More information

KEY FEATURES OF THE OPENWORK PENSION ACCOUNT (SIPP)

KEY FEATURES OF THE OPENWORK PENSION ACCOUNT (SIPP) KEY FEATURES OF THE OPENWORK PENSION ACCOUNT (SIPP) 2 INTRODUCTION The Financial Conduct Authority is a financial services regulator. It requires us, Investment Funds Direct Limited (IFDL), to give you

More information

KEY FEATURES OF THE PHASED ANNUITY PLAN

KEY FEATURES OF THE PHASED ANNUITY PLAN KEY FEATURES OF THE PHASED ANNUITY PLAN The Financial Services Authority is the independent financial services regulator. It requires us, Friends Life Company Ltd, to give you this important information

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

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

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

Elite Retirement Account TM

Elite Retirement Account TM Elite Retirement Account TM Key Features of the Elite Retirement Account The Elite Retirement Account (ERA) is a Self Invested Personal Pension (SIPP). A SIPP is a personal pension that allows you greater

More information

Welplan Pensions. Flexibility for members from 6 April 2016. Spotlight on flexibility:

Welplan Pensions. Flexibility for members from 6 April 2016. Spotlight on flexibility: Welplan Pensions Flexibility for members from 6 April 2016 Spotlight on flexibility: Pension freedom is great news for members Changes in the law mean that from 6 April 2015 many members of pension schemes

More information

KEY FEATURES OF THE GROUP PERSONAL PENSION PLAN

KEY FEATURES OF THE GROUP PERSONAL PENSION PLAN KEY FEATURES OF THE GROUP PERSONAL PENSION PLAN The Financial Conduct Authority is a financial services regulator. It requires us, Royal London, to give you this important information to help you to decide

More information

GUIDE THE BLUESKY PENSION SCHEME (TBPS)

GUIDE THE BLUESKY PENSION SCHEME (TBPS) M E M B ER GUIDE THE BLUESKY PENSION SCHEME (TBPS) W W W. T B P S. U K The BlueSky Pension Scheme (TBPS) is a Defined Contribution Master Trust which satisfies the criteria required for auto enrolment.

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

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

The United Reformed Church. Ministers Pension Fund. A guide to. Additional Voluntary Contributions

The United Reformed Church. Ministers Pension Fund. A guide to. Additional Voluntary Contributions The United Reformed Church Ministers Pension Fund A guide to Additional Voluntary Contributions June 2015 A guide for members of the United Reformed Church Ministers Pension Fund (URCMPF) page 2 The United

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

Professional Footballers Pension Scheme Section A Guide for Players

Professional Footballers Pension Scheme Section A Guide for Players Professional Footballers Pension Scheme 2011 Section A Guide for Players Contents INTRODUCTION... 3 SUMMARY... 4 DEFINITIONS... 5 ELIGIBILITY... 6 CONTRIBUTIONS... 7 INVESTMENT... 9 BENEFITS ON RETIREMENT...

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

MACQUARIE LIFETIME INCOME GUARANTEE POLICY

MACQUARIE LIFETIME INCOME GUARANTEE POLICY MACQUARIE LIFETIME INCOME GUARANTEE POLICY series 1: Product disclosure statement issued 8 march 2010 Important NOTICE This Product Disclosure Statement ( PDS ) is dated 8 March 2010 and together with

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

RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE

RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE This information is for UK financial adviser use only and should not be distributed to or relied upon by any other person. INTRODUCTION THE RETIREMENT ACCOUNT

More information

The Clerical Medical Staff Superannuation Fund SCHEME HANDBOOK

The Clerical Medical Staff Superannuation Fund SCHEME HANDBOOK The Clerical Medical Staff Superannuation Fund SCHEME HANDBOOK CONTENTS 1 Definitions 2 Membership 3 Contributions 4 Additional Voluntary Contributions (AVCs) 5 Tax relief 6 Retirement Benefits (including

More information

The Plan for Your Future

The Plan for Your Future The TJX UK Pension Plan The Plan for Your Future Pension Booklet 2 P age Welcome to the TJX UK Pension Plan To look after your financial future, you need to take a little time out of your present. Setting

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

www.civilservice-pensions.gov.uk

www.civilservice-pensions.gov.uk www.civilservice-pensions.gov.uk This booklet is published by Civil Service Pensions. Crown Copyright June 2008 Printed by St Ives Direct PPA-1 partnership pension account Contents partnership pension

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

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

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning & Guidance TA Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would I need to use a Financial Broker? 03 What is an annuity? 05 A Guide to Annuities

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

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

What are the tax breaks and controls on the tax breaks?

What are the tax breaks and controls on the tax breaks? Pensions - Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Workplace pension schemes Personal Pension

More information

Lloyd s Register Scheme Summary

Lloyd s Register Scheme Summary Working together for a safer world Lloyd s Register Scheme Summary Lloyd s Register Superannuation Fund Association A summary of the Defined Contribution Section How the DC Section works The Defined Contribution

More information

Group Flexible Retirement Plan Terms and conditions

Group Flexible Retirement Plan Terms and conditions Group Flexible Retirement Plan Terms and conditions Please read and keep for future reference. Contents 03 1. Your terms 03 2. Structure of your plan 03 3. Eligibility 04 4. Payments 06 5. Investments

More information

Key features of the Group Personal Pension Plan

Key features of the Group Personal Pension Plan For employees Key features of the Group Personal Pension Plan Contents Important note 2 Its aims 2 Your commitment 2 Risks 3 Questions and answers 4 Other information 9 How to contact us 12 The Financial

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 Ascentric Pension Account (SIPP)

Key Features of the Ascentric Pension Account (SIPP) Key Features of the Ascentric Pension Account (SIPP) Introduction The Financial Conduct Authority is a financial services regulator. It requires us, Investment Funds Direct Limited (IFDL), to give you

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

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

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

KEY FEATURES OF THE PERSONAL PENSION (TOP UP PLAN) Important information you need to read

KEY FEATURES OF THE PERSONAL PENSION (TOP UP PLAN) Important information you need to read KEY FEATURES OF THE PERSONAL PENSION (TOP UP PLAN) Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR. IT REQUIRES US, SCOTTISH WIDOWS, TO GIVE YOU

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

Human Resources HP Pension Scheme Booklet

Human Resources HP Pension Scheme Booklet The Hewlett-Packard Limited Pension Scheme (the HP Scheme) The HP Scheme is a money purchase pension arrangement provided through the company s Flexible Benefits Programme. Eligibility You are eligible

More information

Lloyd s Register Scheme Summary. Lloyd s Register Superannuation Fund Association A summary of the Defined Contribution Section

Lloyd s Register Scheme Summary. Lloyd s Register Superannuation Fund Association A summary of the Defined Contribution Section Scheme Summary Superannuation Fund Association A summary of the Defined Contribution Section How the DC Section works The Defined Contribution Section is part of the Superannuation Fund Association (LRSFA).

More information

KEY FEATURES OF YOUR BUYOUT BOND ILLUSTRATION KEY FEATURES. and Conditions, available from your financial adviser.

KEY FEATURES OF YOUR BUYOUT BOND ILLUSTRATION KEY FEATURES. and Conditions, available from your financial adviser. 00000 Old Mutual Wealth Life Assurance Limited is a provider of long-term life assurance. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential

More information

Adobe Systems Europe Ltd

Adobe Systems Europe Ltd Adobe Systems Europe Ltd Group Personal Pension Plan Salary & Bonus Sacrifice Handbook 2012/2013 Salary Sacrifice A Salary Sacrifice is an arrangement by which you give up the right to receive part of

More information

Investing for income when you retire

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

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

Personal Pension Account

Personal Pension Account Personal Pension Account Contents Introduction... 1 A Closer Look At Our Personal Pension Account... 2 What Are The Tax Advantages?... 3 Flexible Contribution Options... 4 You Control Your Investment...

More information

Retirement. This factsheet sets out the circumstances under which you may retire and receive a pension from USS.

Retirement. This factsheet sets out the circumstances under which you may retire and receive a pension from USS. RETIREMENT FINAL SALARY SECTION Retirement This factsheet sets out the circumstances under which you may retire and receive a pension from USS. From what age can I receive my retirement benefits from USS?

More information

WELCOME TO YOUR GREGGS PENSION SCHEME.

WELCOME TO YOUR GREGGS PENSION SCHEME. WELCOME TO YOUR GREGGS PENSION SCHEME. YOUR FUTURE. YOUR JOURNEY. October 2015 Legal & General working in association with: 2 WORKING HARD? ONE DAY YOU MAY NEED TO SLOW DOWN. What will the State Pension

More information

SHELL CONTRIBUTORY PENSION FUND. Additional Voluntary Contributions Arrangement Explanatory Book

SHELL CONTRIBUTORY PENSION FUND. Additional Voluntary Contributions Arrangement Explanatory Book SHELL CONTRIBUTORY PENSION FUND Additional Voluntary Contributions Arrangement Explanatory Book July 2013 CONTENTS 1 Introduction 3 2 What are AVCs? 7 Why pay AVCs? 10 How do AVCs work? 12 What options

More information

Taking benefits from your pension. A guide to your options

Taking benefits from your pension. A guide to your options Taking benefits from your pension A guide to your options April 2015 Contents Introduction 3 The need for advice 3 4 The state pension 5 Options for taking your pension benefits 5 Annuity purchase 5 6

More information

A Guide to the Local Government Pension Scheme for Councillors in Scotland

A Guide to the Local Government Pension Scheme for Councillors in Scotland A Guide to the Local Government Pension Scheme for Councillors in Scotland April 2016 Index 1. About this Booklet pg 4 2. About the Local Government Pension Scheme (LGPS) pg 5 Who runs the LGPS? LGPS rules

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

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

Flexible retirement. This factsheet sets out the USS flexible retirement terms. How much can I flex on each occasion? What is flexible retirement?

Flexible retirement. This factsheet sets out the USS flexible retirement terms. How much can I flex on each occasion? What is flexible retirement? RETIREMENT FINAL SALARY SECTION Flexible retirement This factsheet sets out the USS flexible retirement terms. What is flexible retirement? Flexible retirement allows you to draw a proportion of your pension

More information

Defined Contribution Plan With effect from 1 January 2013

Defined Contribution Plan With effect from 1 January 2013 The Baptist Pension Scheme Defined Contribution Plan With effect from 1 January 2013 Basic Section Explanatory Booklet September 2012 The Baptist Pension Scheme, Baptist House, PO Box 44, 129 Broadway,

More information

Telegraph Investor SIPP Payment of Benefits Guidance Notes

Telegraph Investor SIPP Payment of Benefits Guidance Notes Under the HMRC pension legislation you can take your benefits from age 55, or younger on ill health grounds (see section below). Please note that you do not have to leave employment to draw your benefits

More information

New Pensions Freedom. Giving people more confidence to save into a pension

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

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning & Guidance TA Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would I need to use a Financial Broker? 03 What is an annuity? 05 A Guide to Annuities

More information

POLICY CONDITIONS Conductor Personal Pension Plan (PC CPPP 06/11)

POLICY CONDITIONS Conductor Personal Pension Plan (PC CPPP 06/11) POLICY CONDITIONS Conductor Personal Pension Plan (PC CPPP 06/11) Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Contract and definitions Contributions The funds Unit linking Benefits General

More information

SELECT SIPP. Taking pension benefits guide

SELECT SIPP. Taking pension benefits guide SELECT SIPP Taking pension benefits guide Please read this guide in conjunction with the Alliance Trust Savings Handbook and the appropriate Key Features documents. Alliance Trust Savings does not give

More information

Enhanced members. Click to begin. Published March 2015. a helping hand for later life

Enhanced members. Click to begin. Published March 2015. a helping hand for later life Enhanced members Published March 2015 Click to begin Hello! Contents This is your guide to the Morrisons Retirement Saver Plan. Congratulations on joining the Morrisons Retirement Saver Plan (Retirement

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

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

KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES.

KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES. PEnSIon AnnuITIES KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES. Helping you make the right decisions for your future INsuRANCe. savings. INVesTMeNT MANAGeMeNT. 01 Key features of Legal & General

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

UNDERSTANDING YOUR FUTURE CREATE A PICTURE OF YOUR RETIREMENT

UNDERSTANDING YOUR FUTURE CREATE A PICTURE OF YOUR RETIREMENT UNDERSTANDING YOUR FUTURE CREATE A PICTURE OF YOUR RETIREMENT CONTENTS My Future 2 Your Family 2 Your Property 3 Your Assets 3 Your Future Summary 4 Your Retirement 4 Your Future Income 5 Details & Events

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

Collective Retirement Account

Collective Retirement Account Key features of the Collective Retirement Account The Financial Conduct Authority is a financial services regulator. It requires us, Old Mutual Wealth, to give you this important information to help you

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

LGPEN 19. Retirement Guide. The Nottinghamshire Local Government Pension Fund. administered by

LGPEN 19. Retirement Guide. The Nottinghamshire Local Government Pension Fund. administered by LGPEN 19 Retirement Guide The Nottinghamshire Local Government Pension Fund administered by Contents Introduction 3 How is my pension worked out? 3 What options do I have on retirement? 7 What if I am

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

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

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

Capital Investment Bond and Distribution Bond Key Features (Additional investment only)

Capital Investment Bond and Distribution Bond Key Features (Additional investment only) Capital Investment Bond and Distribution Bond Key Features (Additional investment only) This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a

More information

Benefits guide for the AJ Bell Investcentre SIPP

Benefits guide for the AJ Bell Investcentre SIPP SIPP ISA GIA Benefits guide for the AJ Bell Investcentre SIPP SIPP ISA GIA Contents Introduction 3 SIPP benefits - the basics 3 Annuity, income drawdown and taxable lump sums - the commitments and risks

More information

Members booklet Defined Contribution Section Retirement Account (Applicable to those who are a member of the 100+ section)

Members booklet Defined Contribution Section Retirement Account (Applicable to those who are a member of the 100+ section) Members booklet Defined Contribution Section Retirement Account (Applicable to those who are a member of the 100+ section) From 1 October 2015 GKN Group Pension Scheme 2012 GKN Group Pension Scheme 2012

More information

Close Brothers Self Directed Service Key Features and Charges

Close Brothers Self Directed Service Key Features and Charges Close Brothers Self Directed Service Key Features and Charges Contents 1) Key Features of the Close Stocks & Shares ISA and Close Cash ISA 2) Key Features of the Close Investment Account 3) Key Features

More information