This mailing tells members about the changes we’re making to their plan(s) in April as a result of the Government introducing new flexibility around the options that people will have when they come to retire.
Each customer letter will include notice of the changes we’re making to the terms and conditions of their plan. The notice they receive will depend on which product they’re invested in.
Here's a quick summary of the changes in each notice:
This notice sets out an additional retirement option.
From 6 April 2015, clients may be able to take the full amount as a lump sum, where a quarter of the funds available are paid tax-free and the remaining amount is taxed as income at the appropriate rate.
This notice sets out additional retirement options.
From 6 April 2015, clients may be able to take as much of their plan as a lump sum as they want (subject to the minimum values set). A quarter of the funds that they take would be paid tax-free and the remaining amount would be taxed as income at the appropriate rate.
This notice sets out the changes we are making to clients’ income drawdown retirement options under their plan with effect from 6 April 2015.
This notice set out that with effect from 6 April 2015 we are amending the terms of clients’ Core Investments by:
These changes do not affect clients’ current investments. They just enable us to deal more effectively with events that may occur in the future.
This notices sets out that with effect from 6 April 2015 we are amending the terms of clients' Core Investments by:
If a client has recently started their plan with us, their existing Core Investments terms and conditions will already include these updated terms.
These changes do not affect clients’ current investments. They just enable us to deal more effectively with events that may occur in the future.
This notices sets out that with effect from 6 April 2015 we’re amending the terms of clients' plan by:
These changes do not affect clients’ current investments. They just enable us to deal more effectively with events that may occur in the future.