Welplan Pensions. Flexibility for members from 6 April Spotlight on flexibility:
|
|
- Blaze Baldwin
- 7 years ago
- Views:
Transcription
1 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 have increased flexibility over how they gain access to their pension. There are more options for taking retirement income and fewer restrictions on the amount that can be withdrawn as cash. Be aware of the tax consequences of accessing your pension pot Whilst the changes as of 6th April 2015 give more freedom in how you use your pension pot, it is worth remembering that you can leave your money invested until the date you stop working. As long as your money stays in your pension pot you don t pay tax on it. If you are 55 or older and wish to access some or all of your pension pot now, there will be tax implications, so it is important to take advice as to what is best for your personal situation. Staff at Welplan are not authorised to provide financial advice. Watch out for pension scams You may have heard in the news recently that scammers are targeting people in the hopes of gaining access to their pension pot. Pension scammers will try to lure members with promises of one-off investments, pension loans or upfront cash. Most of these are bogus. The Pensions Regulator website has more information about the types of scams that are taking place, and what to do if you feel you have been targeted. Visit to find out more. Pension Wise is there to help make sure you use it Pension Wise is the Government s new, free impartial information and guidance service. It is there to help pension savers with their new freedoms, and understand the consequences of their decisions. It may also be worthwhile contacting an independent financial adviser who will look at your circumstances and recommend what you can do with the money in your pension pot.
2 Flexibility for members the options available Pension schemes are not obliged to provide all of the new flexibilities from the scheme itself. This document is intended to describe in broad terms the new flexibilities, and what Welplan Pensions does and does not do. When you reach your Target Retirement Age (TRA), you will have the following options available to you: 1. Leave your pension pot untouched 2. Purchase an Annuity 3. Get a flexible income 4. Take your whole pot as cash In Welplan Pensions, your Target Retirement Age defaults to your State Pension Age, however you can set your own TRA at any time. The earliest you can take your benefit is age Leave your pension pot untouched You don t have to start taking money from your pension pot when you reach your Target Retirement Age. You can leave the money invested even if you're still working. As long as your money stays in your pension pot you don t pay tax on it. You can still pay into it up to your annual allowance as long as your employer continues to pay into the scheme as well. Your pension pot could grow further and give you a larger amount of money to last for a shorter amount of time. Whatever money you leave in your pension pot you can pass on tax free if you die before the age of 75. As with every investment the value of your pot could go up or down.
3 2. Purchase an annuity You might want to use your pension pot to buy an insurance policy that gives you a guaranteed annual income. This is called a lifetime annuity and will be payable for the rest of your life - or longer if you choose a guarantee Period and die before the end of that period. If you live longer than the guarantee period the annuity will continue for your lifetime. Under the old rules annuities could only be guaranteed for 10 years but longer periods have been available since 6 April You may also buy an income for a fixed number of years, rather than for your lifetime. Although these plans are often called fixed term annuities they are actually a form of flexi-access drawdown, which is explained below. There are lots of different types of annuities you must make sure you buy the right one for you. If you decide to buy an annuity you can still take 25% of your pension pot tax free as cash. You could then, for example, buy the annuity with the remaining 75%. Under current pension rules you have to buy the annuity within 6 months or alternatively use one of the other options How much income you get each year from an annuity depends on things like: how much you had in your pension pot when you bought the annuity your age whether you want the income to increase each year whether you want the annuity to pay out to someone after you die your health and lifestyle You pay tax on income from an annuity, just like you do on your salary. If the insurer you bought your annuity with goes bust you ll be covered for 90% of the claim by the Financial Services Compensation Scheme. The claim would be based on the value of the annuity at the time. Welplan Pensions use Mercer Annuities to search the whole of the market and recommend to the trustees a lifetime annuity provider based on the information provided to them by you. Welplan Pensions does not charge for this service. No commission or advisor charge is taken by Mercer from the insurer providing the lifetime annuity. Currently we cannot help you with obtaining a fixed term annuity. You do not have to take any annuity recommended to the Trustees and different providers might pay a higher income. So it s important to shop around. Remember that, currently, annuity purchases are a lifetime commitment so there s no rush to make a final decision. Annuity purchase rates can go up and down at any time and vary between insurers.
4 Please note that you cannot obtain a lifetime annuity if you have a pension pot less than 1000, and that you would need a pot of 2000 or more to be able to receive an enhanced quotation, where lifestyle and health may affect the annuity you receive. 3. Get a flexible income There are currently 2 ways you can get a flexible income from your pension pot. The main difference is how you can take the tax-free part: flexi-access drawdown - you can take 25% of your whole pot tax free in one go take smaller cash sums - you can get 25% tax free each time you take money from your pot Option 3.1: Flexi-access drawdown Like an annuity, you buy a retirement product from a pension provider. This includes investing your pension pot into flexi-access drawdown funds and managing these funds. Welplan Pensions does not offer this form of drawdown from the scheme. So you would need to arrange a provider yourself if you wish to take this option. If you want independent advice you might want to talk to a financial adviser to help you with this. As with every investment there is the risk that the value of your fund can go up or down. You can take as much money as often as you want but there ll be a charge every time you withdraw money. Your provider will pay it to you after having taken off any Income Tax due. You should think about how much you take out every year and how long you want your money to last. Taking out larger sums can mean you pay more tax. You can leave your pot to someone when you die but they may have to pay inheritance tax on it. If the pension provider your fund is with goes bust you ll be covered by the Financial Services Compensation Scheme. You could also still pay into the fund if you wanted to, up to a limit of 10,000 a year. This includes your tax relief of 20%. For example, to get a contribution of 10,000 you would only have to pay in 8,000.
5 Tax free lump sum with flexi-access drawdown You can take 25% of your whole pot tax free in one go before you put the rest into a flexi-access drawdown fund. Example You have a pot of 80,000 and take a tax-free lump sum of 20,000. This leaves you with 60,000 to invest into flexi-access. If you take the tax-free lump sum, under current pension rules you must buy your flexi-access product within 6 months or use one of the other options available. Option 3.2: Take smaller cash sums from your pot You can leave your money in your current Welplan Pension pot and take money from it when you need it. How often you take money out and how much is up to you - 25% of each sum you take is tax free. This means you cannot take the whole 25% tax-free lump sum from your pot in one go. This option is a bit like a savings account. Welplan Pensions operate a monthly payroll to make payments. Example Your pot is 60,000. You sell a number of investment units, which might provide you with a cash amount of 1, of this amount would be taxfree every time. The remaining 750 would be taxable. You could repeat this process during the year. Like with every investment there s the risk that the value of your fund can go up or down. You should think about how much you take out every year and how long you want your money to last. Taking out larger sums can mean you pay more tax. You could also still pay into Welplan Pensions if you wanted to, up to a limit of 10,000 a year, as long as your employer continues to pay into the scheme. You may hear this option described as UFPLS or Uncrystallised Funds Pension Lump Sum.
6 4. Taking the entire pot as cash in one go If you take your whole pension pot in one go - 25% is tax-free and the remaining 75% is taxable. Example Your pot is 60,000. You can take 15,000 tax-free. The remaining 45,000 would be taxable. If you re considering this option you should think about how you can use the money to give you an income in retirement. Mixing your pension options You can mix your options but this is something that Welplan Pensions does not offer. Mixing your options can be complicated. If you re interested in this you might want to talk to a financial adviser first to check what s currently available. Pension providers are developing new retirement income products all the time, some of which might mix these options. Advice and Guidance Comparing retirement income products can be complicated. You may wish to speak to a financial adviser to help you. They ll look at your circumstances and recommend what you can do with the money in your pension pot. Please note that Welplan Pensions is not authorised to provide financial advice. You can read more about choosing a financial adviser on the Money Advice Service website. You can check your adviser is authorised by the Financial Conduct Authority (FCA) before you pay for advice. You can check the FCA register to make sure. To receive free, impartial guidance from the government, go to Tel:
7 Pension Wise is a government service that will offer you: tailored guidance (online, over the telephone or face to face) to explain what options you have and help you think about how to make the best use of your pension savings; information about the tax implications of different options and other important things you should think about; and tips on getting the best deal, including how to shop around. Choosing what to do with your pension savings is an important financial decision; you can often get more for your money by shopping around. If you wish to discuss any of this information, you may of course contact Welplan Pensions by or via the Freephone Helpline: pensions@welplan.co.uk Freephone: Version
Scamproof your savings
Scamproof your savings Pension scams. Don t get stung. Pension scams: the facts Pensions are changing. From April 2015, if you are over 55 years old, you can access your pension savings in new ways. Scammers
More informationYour 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 informationPension 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 informationTelegraph 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 informationPension benefits with a guarantee and the advice requirement
Pension benefits with a guarantee and the advice requirement January 2016 This factsheet is intended to help pension scheme providers determine: whether certain types of pension benefits which contain
More informationYour choices at retirement and the Open Market Option (OMO)
CLIENT FACTSHEET Your choices at retirement and the Open Market Option (OMO) This fact sheet focuses on how you can use your SIPP fund to buy an annuity in the open market to provide an income in retirement
More informationA 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 informationGUIDE 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 informationApril 2015: Forthcoming Pension Changes. Retirement options for money purchase pension schemes (including SSAS).
April 2015: Forthcoming Pension Changes Significant changes to pension regulations are being introduced on the 6 th April 2015. The legislation will be covered in the Taxation of Pensions Bill 2014 and
More informationKey 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 informationMake the most of your retirement. Retire with Friends. It s good to talk to Friends
Make the most of your retirement Retire with Friends It s good to talk to Friends You can count on Friends Retirement today looks a lot different than it did for previous generations. It s good news. There
More informationG4S Personal Pension Plan Employee Guide
G4S Personal Pension Plan Employee Guide Expiry 05/04/16 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
More informationThe 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 informationPreparing 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 informationYour 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 informationKey features of the Flexible Pension Plan
For customers Key features of the Flexible Pension Plan Contents Its aims 2 Your commitment 2 Risks 3 Questions and answers 4 Other information 8 How to contact us 9 The Financial Conduct Authority is
More informationNEW PENSION FLEXIBILITY WHAT S CHANGING AND WHAT DO I NEED TO DO? Benefits arising from the Lloyds Bank Offshore Pension Scheme; or
NEW PENSION FLEXIBILITY WHAT S CHANGING AND WHAT DO I NEED TO DO? These changes do not affect: Benefits arising from the Lloyds Bank Offshore Pension Scheme; or Benefits that have been built up in Your
More informationpartnership 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 informationIMPORTANT 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 informationKEY 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 informationLet 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 informationScammed out of his retirement. Don t be next.
Scammed out of his retirement. Don t be next. Visit www.pension-scams.com Geoff s story Tricked into being part of the scam Bold text highlights typical hallmarks of a scam. These are based on real life
More informationKey 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 informationPensions Freedom. What do the pension changes really mean? This is for information purposes only.
Pensions Freedom What do the pension changes really mean? This is for information purposes only. Pensions Freedom March Budget 2014 introduced unprecedented changes to how pension benefits can be taken
More informationOur 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 informationBeaufort 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 informationAn 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 informationSIPP 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 informationHow To Take A Pension From A Pension Fund
UPDATED: 6 April 2015 NEW pension freedoms Your options at retirement How to take tax-free lump sums and income, under new pension freedoms One College Square South, Anchor Road, Bristol, BS1 5HL www.hl.co.uk
More informationFreedom and Choice in Pensions. Your guide to the changes
Freedom and Choice in Pensions Your guide to the changes Contents Freedom and Choice 3-5 in Pensions Buy an annuity 6-7 Remain invested - 8-9 entering drawdown Take a cash lump sum 10 Will providers offer
More informationCompare the routes to taking your pension income. Age Partnership. R e t i r e m e n t S p e c i a l i s t s. A range of solutions to meet your needs
Age Partnership R e t i r e m e n t S p e c i a l i s t s Compare the routes to taking your pension income A range of solutions to meet your needs We can help you convert your pension savings into an income
More informationPENSIONS 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 informationThe 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 informationKey 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 informationRETIREMENT TIMETABLE. With effect from 6 April 2015, changes to pensions law gives people greater freedom over how they access their pension savings.
RETIREMENT TIMETABLE abcdef Important Note: With effect from 6 April 2015, changes to pensions law gives people greater freedom over how they access their pension savings. Everyone retiring from 6 April
More informationImportant 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 informationKEY 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 informationSpring 2015 reforms: the new DC flexibilities
Spring 2015 reforms: the new DC flexibilities THE REFORMS AT A GLANCE y Until April 2015, members usually faced serious tax penalties if they did not spend at least 75% of their DC pots on an annuity meeting
More informationKey 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 informationFlexible 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 informationBENEFITS. The remainder of your fund is used to provide a pension, in one of 2 ways:
BENEFITS Online links to further information are shown in underlined text below. Contents 1. Your own benefits 2. Benefits on death 3. Issues to consider 4. Other points These notes outline the benefits
More informationKEY 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 informationYour 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 informationPENSION ENCASHMENTS AND SMALL POTS ADVISED NON-GMP CASES
PENSION ENCASHMENTS AND SMALL POTS ADVISED NON-GMP CASES IMPORTANT INFORMATION Please read this section carefully before completing this application form. This form can only be used where you are taking
More informationKey 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 informationThe 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 information25 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 informationBuying 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 informationWITHDRAWING MONEY PURCHASE FUNDS
WITHDRAWING MONEY PURCHASE FUNDS WITHDRAWING MONEY PURCHASE FUNDS Pension commencement lump sum plus annuity Uncrystallised funds pension lump sum Flexi -access drawdown Small pots PRESERVE YOUR FUTURE
More informationPASSING ON YOUR PENSION. A guide to death benefits from income drawdown. Retirement Solutions
PASSING ON YOUR PENSION A guide to death benefits from income drawdown Retirement Solutions It s now easier than ever to pass any remaining money in your pension to the people you love when you die. New
More informationTaking 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 informationBenefits 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 informationInstruction for payment of death benefits
Instruction for payment of death benefits Group Flexible Retirement Plan/ Active Money Personal Pension/ Personal Pension/Stakeholder Pension Filling in this form 0515 Your payments aim to build up a fund
More informationInformation 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 informationOptions 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 informationA 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 informationKey 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 informationPensions Tax Reliefs. 03333 219 000 advice@bishopfleming.co.uk. www.bishopfleming.co.uk
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 informationA 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 informationSelf 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 informationPension Flexibility 2015
Pension Flexibility 2015 Who is likely to be affected? Individuals who have reached the normal minimum pension age, (normally age 55), who have money purchase pension savings in a registered pension scheme
More informationKEY 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 informationSIPP Key Facts. This is an important document which you should keep.
SIPP Key Facts! This is an important document which you should keep. 2 Key Facts of the Alliance Trust Savings SIPP The Financial Conduct Authority is the independent financial services regulator. It requires
More informationWorkplace pensions - Frequently Asked Questions
Workplace pensions - Frequently Asked Questions Q1. Why is Auto Enrolment happening? Q2. Is everyone being enrolled into a workplace pension? Q3. I meet that criteria, when will I be enrolled? Q4. What
More informationPensions Tax Reliefs
Our Vision Pensions Tax Reliefs To become the Best Provider of Solutions for Businesses in Coventry & Warwickshire Types of pension schemes There are two broad types of pension schemes from which an individual
More informationPensions Tax Reliefs. Factsheets. What are the tax breaks and controls on the tax breaks? Types of pension schemes
Factsheets 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: Occupational schemes Personal Pension
More informationKEY 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 informationYour 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 informationPensions - Tax Reliefs
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: Occupational schemes Personal Pension schemes.
More informationSIPP benefit form drawdown and lump sum payments
Stockbrokers SIPP benefit form drawdown and lump sum payments Please complete this form if you want to access your pension and take benefits as a lump sum or income drawdown. If you want to take an annuity
More informationActive 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 informationHILDA & JOHN ENHANCED ANNUITIES
HILDA & JOHN ENHANCED ANNUITIES 20 July 2015 OBJECTIVES 1. John would like to secure a known income stream so Hilda can live a bit better should he die in the next few years 2. Ensure you don t have to
More informationSTAKEHOLDER 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 informationSIPP benefit form income drawdown and lump sum payments
SIPP ISA Dealing Junior ISA SIPP benefit form income drawdown and lump sum payments Please complete this form if you want to access your pension and take income as lump sums or income drawdown. If you
More informationSIPP Flexi Access Drawdown Form
SIPP Flexi Access Drawdown Form FLEXI-ACCESS DRAWDOWN FORM Please complete this form if you wish to draw Pension Commencement Lump Sum and access your benefits via Flexi-Access Drawdown. Please complete
More informationAccessing Your Pension
CLIENT FACTSHEET Accessing Your Pension This fact sheet is designed to give an overview of the ways of taking benefits from your SIPP. Although this fact sheet concentrates on income drawdown and uncrystallised
More informationConventional 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 informationUNDERSTANDING 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 informationGroup 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 informationAccessing 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 informationTHE SIT SIPP. Self Invested Personal Pension. Benefit Form drawdown and lump sum payments
THE SIT SIPP Self Invested Personal Pension Benefit Form drawdown and lump sum payments The SIT SIPP Benefit Form - drawdown and lump sum payments Please complete this form if you want to access your pension
More informationBenefi t Form Income Drawdown and Lump Sum Payments. IWeb Share Dealing Self Invested Personal Pension
Benefi t Form Income Drawdown and Lump Sum Payments IWeb Share Dealing Self Invested Personal Pension Benefi t Form Important tes Please complete this form if you want to access your pension and take benefits
More informationKEY 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 informationKey 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 informationKEY FEATURES OF THE CAREY PENSION SCHEME SIPP
KEY FEATURES OF THE CAREY PENSION SCHEME SIPP The Financial Conduct Authority is a financial services regulator. It requires us, Carey Pensions UK, to give you this important information to help you decide
More informationCollective 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 informationRetirement 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 informationStandard 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 informationDB 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 informationGuaranteed Drawdown. Giving you confidence about your retirement income
Guaranteed Drawdown Giving you confidence about your retirement income 1 The new retirement landscape As you approach retirement, it s time to make those important financial decisions that will see you
More informationFinancial 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 informationKey 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 informationTHE TAXATION OF PENSIONS ACT 2014. February 2015
THE TAXATION OF PENSIONS ACT 2014 February 2015 THE TAXATION OF PENSIONS ACT 2014 An Act to make provision in connection with the taxation of pensions Only four sections and two schedules 2 RESTRICTION/REDUCTION
More informationContents. Aims, commitments and risks. Questions and answers. Contributions. Transfers. Investments
SIPP ISA Dealing Junior ISA SIPP key features The Financial Conduct Authority is the independent financial services regulator. It requires us, AJ Bell Management Limited, to give you this important information
More informationKEY 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 informationKey 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 informationProvide for your loved ones. A guide to death benefits from your pension plan
Provide for your loved ones A guide to death benefits from your pension plan This guide covers the death benefits from the following plans: Self Invested Personal Pension Group Self Invested Personal Pension
More informationGroup 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 informationretirement 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 informationIs equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives?
Buyer s Guide : Content Page 1: What is equity release? Page 2: Is equity release the right choice for you? Page 3: Protecting yourself If it isn t right for you, what are the alternatives? Page 4: Lifetime
More information