The Retirement Account

The certainty of an annuity and the flexibility of drawdown in one simple tax-advantaged wrapper

Benefits at a glance

Total Flexibility of income

  • Guaranteed income for life, with the Guaranteed Annuity component 
  • Unrestricted access to Pension Drawdown fund for treats and unforeseen expenses although this will reduce the fund
  • And you can stop, start and vary the income from the Retirement Account whenever you want 

Control the level of your retirement income and the tax you pay

  • If the Guaranteed Annuity income isn’t needed for a period, it can be diverted into the Cash Account or into Pension Drawdown. No tax is payable as the money stays within the tax-advantaged wrapper
  • Clients may invest in Pension Savings and phase retirement by deciding when and how much money is used to provide benefits aiding individual tax planning

Lock in guaranteed income later in life

  • The Retirement Account is structured so that more Guaranteed Annuity can be bought using Pension Drawdown funds at any time 
  • The older the client, the more potential for higher income from each new chunk of money
  • Income may be enhanced still further if the client’s health has deteriorated

Comprehensive Death Benefits to provide for loved ones

  • The Guaranteed Annuity features the choice of a Money Back Guarantee of up to 100%, a Guaranteed Income period of up to 30 years, and a Dependant’s Income of up to 100%
  • The Income Guarantee, if selected, can be commuted to a lump sum if the beneficiary wishes, which will be calculated at the time
  • Any Pension Drawdown or Pension Savings funds will be made available to beneficiaries on death, as you would expect

Minimise tax liability for beneficiaries

  •   The Retirement Account is held in a tax-advantaged wrapper, so beneficiaries have complete freedom to take death benefits however they like, to minimise tax liability

  • Death benefits from Guaranteed Annuity, Pension Drawdown or Pension Savings can be taken as a lump sum, as a regular income, or any combination of instalments

  • Beneficiaries can even start their own Retirement Account, still within the tax wrapper, and take full advantage of its flexibility

A simple investment choice for Pension Drawdown

  • Our independently selected range of market leading funds caters for the needs of the vast majority of retirees
  • Fund research and selection are provided by Square Mile Investment Consulting, a respected independent research firm based in the City of London
  • The fund range is grouped into Cautious, Balanced and Adventurous categories for convenient selection, and features a choice of Active, Passive and Protected funds
  • Each fund has been handpicked for its investment performance, value for money, and potential for future success
  • Funds are closely monitored so your clients can be confident that we will always offer a range of thoroughly researched and potentially strong performing funds

Making Advisers’ lives easier

  • The Retirement Account is available exclusively through financial advisers
  • One application, one illustration, one annual statement, one provider
  • Annuity rates are highly competitive, even compared with conventional annuities that don’t have all the other benefits of The Retirement Account
  • Advisers can choose how much to charge clients, including initial fees, ongoing and ad-hoc servicing fees to reflect
    the service they are providing their clients with
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