Who is a Flexible Pension Plan suitable for?

For intermediaries only

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A Flexible Pension Plan may be suitable if your clients:

  • want to save for their retirement and want to invest £100 or more every month, or make single contributions and/or pay in transfer(s);
  • want access to a wide range of pension funds;
  • are aged between 18 and 75 and have at least 10 years to retirement;
  • want to keep control over where and how their pension fund is invested;
  • would like to choose from a range of investment portfolios that can match their own attitude to risk;
  • want tax relief on pension savings;
  • have several pension arrangements and investments with different providers;
  • are either employed or self-employed, and
  • would like a choice of charging options, allowing them to choose the most appropriate one for them.

A Flexible Pension Plan may not be suitable if your clients:

  • don’t need a high level of investment choice and advice – then a stakeholder pension may be more appropriate, and/or
  • are only considering investing for a short time before moving their money or taking benefits.

This information is based on our understanding of current, taxation law and HMRC practice, which may change. The tax treatment depends on the individual circumstances of each client and may be subject to change in future.

Transferring or investing a pension may not be the best option for your client, they should compare the benefits from their current pension with the estimated benefits of your new pension, including any guarantees and penalties.

The value of the investment can go down as well as up, so your client may get back less than they invest.

Financial advice

The above information is intended for financial advisers. If you're a customer and you're uncertain about your options, a financial adviser will be able to help. To find a financial adviser in your area please visit www.unbiased.uk(Opens new window)