Switch and redirection instructions form

Transcription

1 PLEASE PRINT AND COMPLETE IN BLACK INK AND BLOCK CAPITALS Please complete one form for each plan that you wish to switch or redirect then return it to us using the contact details shown below. Our contact details Phoenix Life 301 St Vincent Street Glasgow G2 5AB Telephone Please note: We are unable to accept this form by fax. Section 1 Your details Plan reference Planholder name(s): Current address details: Section 2 Changing how your plan is invested Please indicate the type change you want to make by ticking one box from the middle column. Option V Switch existing s only Complete section 4 and 6 Redirect future s only Complete section 5 and 6 Switch existing s, AND redirect future s Complete section 4, 5 and 6 1 7

2 Section 3 Guide to completion section 4 If you instruct us to switch your existing s your instructions will only apply to the money already invested in your plan. The instructions will not affect any future contributions made. Unless you also tell us to redirect your future contributions under Section 5, we will continue to invest them into your previous choice funds. EXAMPLE In the following example, all the existing s in Fund A, plus one half the existing in Fund B, are to be. The proceeds are to be reinvested as Fund C 50%, Fund D 25%, Fund E 15% and Fund F 10%. If you have a current that you do not want to switch, you should not include it in the table. Existing fund name Proportion to be New fund name New allocation Fund A 100% Fund C 50% Fund B 50% Fund D 25% Fund E 15% Fund F 10% Total 100% 2 7

3 Section 4 Switching existing s The table below should be completed if you want to change where your existing money is invested. Please show how you would like the money to be invested, showing the percentage to be invested in each new fund. Existing fund name Proportion to be New fund name New allocation Total 100% The new fund selection must add up to 100%. If it does not add up to 100% we will not be able to action the switch and will need to contact you for further instructions. Section 5 Redirect future contributions The table below should only be completed where you want to change where your future contributions are invested. Please show how you would like all the future contributions to be invested. New fund selection % Total 100% Important: The new fund selection must add up to 100%. If it does not add up to 100% we will not be able to action the redirection and will need to contact you for further instructions. 3 7

4 Section 6 Declaration Switch and redirection instructions form I / We request and authorise Phoenix to change how the plan is invested as detailed above. I / We confirm that I / we have read the attached Important information sheet and understand the risks, implications and charges associated with a switch or redirection my s. I / We understand that the value my s can go down as well as up, and may change between the time I send you my instructions to switch, and the effective date on which you price the switch. Please insert a daytime number in case we need to contact you for further instructions. Signature plan holder one / trustee / Signature plan holder two / trustee / 4 7

5 Signature plan holder 3 / trustee / Signature plan holder 4 / trustee / 5 7

6 Important information about switches and redirections Before you make a decision about whether to switch or redirect your s it is important that you read the following information. Restrictions There may be a minimum amount that can be from one fund to another. You may be required to leave a minimum amount in any fund in which you continue to invest, unless you move all your money out that fund and leave the fund balance at zero. There may be some funds you cannot switch to or from. There may also be some funds to which you cannot redirect future s. If you are currently invested in capital units you can only switch or redirect future s into capital units in another fund. Capital units are units allocated to your plan in the earlier years. These units are subject to extra charges to cover the selling and set up costs your plan. If you are currently invested in accumulation units you can only switch or redirect future s into accumulation units in another fund. If you are currently invested in initial units you can only switch or redirect future s into initial units in another fund. Initial units are units allocated to your plan in the earlier years. These units are subject to extra charges to cover the selling and set up costs your plan. There may be a maximum number funds you can invest in. For details the funds available to you and any restrictions please contact us. Please note that if you instruct us to switch your existing s, your instructions will only apply to the money already invested in your plan. The instructions will not affect any future contributions you make. Unless you also tell us to redirect your future contributions, we will continue to invest any future payments we receive from you into your previous choice funds. Charges If you decide to make a switch from one fund to another, there may be a charge deducted from your plan s value. Charges vary from fund to fund. If you decide to switch funds, the ongoing charges incurred by your plan may change. If you decide to redirect future s to a different fund, the initial charge may be different to the initial charge applied to your current fund. For details the charges that apply to each fund please contact us. 6 7

7 Risk warnings If you switch out some with prit funds a Market Value Reduction (MVR) may apply. If you would like to know how much the reduction will be, please contact us. An MVR ensures that when an is out the fund, the value that is out properly reflects its share the fund s assets. This is to protect the plan holders who remain invested in the fund, by ensuring that the fund s total value is not unfairly reduced. When we apply an MVR the proceeds you receive when you switch out the fund is reduced. Some our plans allow the MVR to be waived at certain dates. This may be a valuable feature your plan. For details please contact us. Some plans and some funds may have guarantees about the value your or the benefits it will pay, which may be important to you. Please contact us if you require further details. Changing how your money is invested will affect the performance your plan. This may be important if your plan was targeted to achieve a certain value, such as to repay a mortgage. If you would like an illustration to show how the performance your plan might be affected by the changes, please contact us. Final bonus If you decide to make a switch out some with prits funds we may apply a final bonus. The final bonus ensures that when an is out the fund, the value properly reflects its share the fund s assets. This is to ensure that you receive your fair share the fund s total value. By switching out early, the final bonus rate that will be applied to the money may be different from that which would have applied in the future, had you not. Further information If you need any further information please do not hesitate to contact us using the details shown at the top this form. Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Phoenix Life Limited is registered in England No and have their registered fice at: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG. 7 7