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PensionsWe offer a wide range of pension products and flexible solutions, so you’re sure to find something that meets your needs.
| Flexible Pension Plan (FPP) Financial Adviser Charge Option | Flexible Pension Plan (FPP) Additional AMC Option | Individual Stakeholder | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Minimum age | 18 | 18 | None | ||||||
| Maximum age | 74 | 74 | 74 | ||||||
| Chosen retirement age | Anytime between the ages of 55 and 75 | Anytime between the ages of 55 and 75 | Anytime between the ages of 55 and 75 | ||||||
| Minimum regular contribution | £100 per month or £1,200 per annum | No regular contributions can be paid into the Additional AMC Option | £20 | ||||||
| Minimum single contribution | £2,500 initial, £499 thereafter | £2,500 initial, £499 thereafter | £20 | ||||||
| Annual management charge (AMC) | 1% Some funds carry an additional management charge. This can further increase the overall AMC. | The FPP Additional AMC Option has an AMC of 1%, however if your adviser takes remuneration then the AMC can increase to a maximum of 1.5% Some funds carry an additional management charge. This can further increase the overall AMC. | The AMC on our Individual Stakeholder contract depends on whether your Financial Adviser takes remuneration. If remuneration is selected the AMC will be either 1%, or 1.5% reducing to 1% after 10 years. If no remuneration is selected the AMC will be 0.6% for regular premiums and 0.5% for single premiums The AMC on Individual Stakeholder can never be more than 1.5%. | ||||||
| Fund value rebate | Fund Value £1 £20,000 £50,000 £150,000 Rebate 0.25% 0.55% 0.60% 0.65% Effective AMC 0.75% 0.45% 0.40% 0.35% | Fund Value £1 £20,000 £50,000 £150,000 Rebate 0.25% 0.55% 0.60% 0.65% Effective AMC 0.75% 0.45% 0.40% 0.35% | There is no fund value rebate on Individual Stakeholder | ||||||
| Number of insured funds available (as at 06/04/2011) | 250 | 250 | 82 | ||||||
| Fund switching | You can make up to 20 fund switches per annum, all of which are free We may allow more than 20 switches per annum. This and any associated charge would be at our discretion. | You can make up to 20 fund switches per annum, all of which are free We may allow more than 20 switches per annum. This and any associated charge would be at our discretion. | You can make up to 20 fund switches per annum, all of which are free We may allow more than 20 switches per annum. This would be at our discretion. | ||||||
| Any other charges? | Any adviser remuneration taken on this option is paid for via a Financial Adviser Charge (or FAC*). The FAC can be up to a maximum of 50% of your first years regular contributions or up to 8.5% of your single contributions * This is a type of initial charge | No, the only charge on the FPP Additional AMC Option is the Annual Management Charge | No, the only charge on the Individual Stakeholder contract is the Annual Management Charge | ||||||
| Self-Investment | The Flexible Pension Plan has a self-invested option. If you don’t use this you won’t be charged for it. If you choose to self-invest, the additional charges would depend on the investments you choose and the size of the investment. £1,000 must remain in insured funds in order to ‘activate’ the self-investment element. | The Flexible Pension Plan has a self-invested option. If you don’t use this you won’t be charged for it. If you choose to self-invest, the additional charges would depend on the investments you choose and the size of the investment. £1,000 must remain in insured funds in order to ‘activate’ the self-investment element. | Individual Stakeholder does not have a self-invested option | ||||||
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