Our position on offering nominee and successor flexi-access drawdown

25 August 2015
Part of April's new pension legislation saw the introduction of nominee and successor flexi-access drawdown.
Nominee and successor flexi-access drawdown

There's been lots of discussion in the market recently about which providers can offer dependant, nominee and successor flexi-access drawdown options.

We can confirm that Royal London offer these on all Pension Portfolio plans, including Income Release plans, set up from 17 December 2007. This includes plans where the dependant, nominee or successor is under age 55.

These options are not currently available on other Royal London pension plans.

We strongly recommend that clients regularly review who they want to benefit from their plan in the event of their death and that they use our Payment of benefits on death form to keep us up to date with their current wishes.

Last updated: 20 Nov 2015

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The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London EC3V 0RL.