The new pension flexibility introduced by the Government in April 2015 gives people a greater choice of retirement options to take from their pension savings than ever before.
In July we’re mailing trustees, and customers who have a pension with us, aged 54 or over and their employers, to tell them about the changes we’re making to their pension plan(s) to cater for these new retirement options.
13/7 | Adviser corporate newsletter update |
27/7 | Adviser newsletter reminder |
27/7 to 31/7 | Employer and Trustee mailings – staggered over 1 week |
3/8 to 2/10 |
Customer mailing – staggered over 9 weeks |
On 14 July we’ll include advance notice of this mailing in our Corporate Adviser Newsletter. We’ll also include a reminder in the Adviser Newsletter on 27 July.
Each customer letter will include a 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.
Product | Leaflet reference number | Product type | Group/Individual plan |
---|---|---|---|
Crest Growth Pension Plan (group policy) | 2TLT1340 | DC schemes | Group |
Crest Secure Pension Plan (group policy) | 2TLT1340 | DC schemes | Group |
Retirement Solutions Company Pension Plan | 2TLT1341 | DC schemes | Group |
Crest Growth Pension Plan (individual policy) | 2TLT1332 | DC schemes | Individual |
Crest Secure Pension Plan (individual policy) | 2TLT1332 | DC schemes | Individual |
Retirement Solutions Individual Plan | 2TLT1333 | DC schemes | Individual |
Product | Leaflet reference number | Product type | Group/Individual plan |
---|---|---|---|
Executive Pension Investment Plan | 2TLT1338 | EPP | Group |
Talisman 98 Executive Pension Plan | 2TLT1339 | EPP | Group |
Talisman Executive Pension Plan | 2TLT1338 | EPP | Group |
Talisman Hallmark Plan | 2TLT1338 | EPP | Group |
Versatile Retirement Benefit Plan | 2TLT1338 | EPP | Group |
Individual Executive Pension Plan | 2TLT1339 | EPP | Group |
Individual Pension Arrangement | 2TLT1338 | EPP | Group |
Individual Executive Pension Plan (assigned) | 2TLT1333 | EPP | Individual |
Talisman 98 Executive Pension Plan (assigned plan) | 2TLT1333 | EPP | Individual |
Talisman EPP (assigned plan) | 2TLT1332 | EPP | Individual |
Talisman Hallmark Plan (assigned plan) | 2TLT1332 | EPP | Individual |
Product | Leaflet reference number | Product type | Group/Individual plan |
---|---|---|---|
Retirement Solutions Group Personal Pension | 2TLT1333 | GPP | Group |
Retirement Solutions Group Stakeholder Pension Plan | 2TLT1333 | GPP | Group |
Talisman Group Personal Pension Plan | 2TLT1333 | GPP | Group |
Retirement Solutions Group Personal Pension Continuation Plan | 2TLT1333 | GPP | Individual |
Retirement Solutions Group Stakeholder Pension Continuation Plan | 2TLT1333 | GPP | Individual |
Talisman Continuation Pension Plan | 2TLT1333 | GPP | Individual |
Product | Leaflet reference number | Product type | Group/Individual plan |
---|---|---|---|
Individual Stakeholder Pension Plan | 2TLT1333 | Individual Personal Pensions | Individual |
Pension Portfolio (IR) | 2TLT1336 | Individual Personal Pensions | Individual |
Pension Portfolio (plans set up after 17 Dec 2007) | 2TLT1336 | Individual Personal Pensions | Individual |
Pension Portfolio (plans set up before 17 Dec 2007) | 2TLT1335 | Individual Personal Pensions | Individual |
Pension Portfolio (SIPP) (plans set up after 17 Dec 2007) | 2TLT1336 | Individual Personal Pensions | Individual |
Pension Portfolio (SIPP) (plans set up before 17 Dec 2007) | 2TLT1337 | Individual Personal Pensions | Individual |
Talisman 98 Income Drawdown | 2TLT1334 | Individual Personal Pensions | Individual |
Talisman 98 Phased Income Drawdown | 2TLT1334 | Individual Personal Pensions | Individual |
Talisman Income Drawdown | 2TLT1334 | Individual Personal Pensions | Individual |
Talisman Personal Pension Plan | 2TLT1333 | Individual Personal Pensions | Individual |
Product | Leaflet reference number | Product type | Group/Individual plan |
---|---|---|---|
Personal Pension Bonus Bond | 2TLT1332 | Retirement Annuity Contracts | Individual |
Personal Pension Bonus Bond (Non-Profit) | 2TLT1332 | Retirement Annuity Contracts | Individual |
Personal Pension Bonus Bond (With Profits) | 2TLT1332 | Retirement Annuity Contracts | Individual |
Personal Pension Deferred Annuity | 2TLT1332 | Retirement Annuity Contracts | Individual |
Personal Pension Investment Plan | 2TLT1332 | Retirement Annuity Contracts | Individual |
Personal Pension Policy | 2TLT1332 | Retirement Annuity Contracts | Individual |
Sovereign Plan | 2TLT1332 | Retirement Annuity Contracts | Individual |
Talisman Personal Pension Plan | 2TLT1333 | Retirement Annuity Contracts | Individual |
This notice sets out an additional retirement option (Full UFPLS) and changes to the rules for death benefits.
Clients may be able to:
This notice sets out additional retirement options (All & Partial UFPLS) and changes to the rules for death benefits.
Clients may be able to:
This notice sets out the changes we’ve made to clients’ income drawdown retirement options under their plan. And, it may also now be possible for benefits to be paid to a beneficiary after the death of the client rather than being restricted to being paid only to a dependant.
This notice set out that we are amending the terms of clients’ Core Investments by:
This notice sets out that 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.
This notices sets out that we’re amending the terms of clients’ plan by:
This notice sets out an additional retirement option that we’ve introduced under the Scheme’s plans with Royal London with effect from 6 April 2015 –Full UFPLS (EPP) - and changes to the rules for death benefits.
Trustees don’t have to offer these additional options to Scheme Members. If they don’t want to offer the additional options under their Scheme, the options available to Scheme Members will continue to be as currently set out in the Rules of the Scheme.
This notice sets out additional retirement options that we’ve introduced under the Scheme’s plans with Royal London - All & Partial UFPLS (EPP) - and changes to the rules for death benefits.
Trustees don’t have to offer these additional options to Scheme Members. If they don’t want to offer the additional options under their Scheme, the options available to Scheme Members will continue to be as currently set out in the Rules of the Scheme.
This notice sets out additional retirement options that we’ve introduced under the Scheme’s plans with Royal London - Full UFPLS (Crest) - and changes to the rules for death benefits.
Trustees don’t have to offer these additional options to Scheme Members. If they don’t want to offer the additional options under their Scheme, the options available to Scheme Members will continue to be as currently set out in the Rules of the Scheme.
This notice sets out additional retirement options that we’ve introduced under the Scheme’s plans with Royal London - All & Partial UFPLS (RS CIMP) - and changes to the rules for death benefits.
Trustees don’t have to offer these additional options to Scheme Members. If they don’t want to offer the additional options under their Scheme, the options available to Scheme Members will continue to be as currently set out in the Rules of the Scheme.
Any plans with a Guaranteed Minimum Pension (GMP) entitlement will not have access to the additional retirement options set out in the relevant notices.
This applies to the following products:
Product | Leaflet reference number | Product type |
---|---|---|
Crest Growth Pension Plan (group policy) | 2TLT1340 | DC schemes |
Crest Growth Pension Plan (individual policy) | 2TLT1332 | DC schemes |
Crest Secure Pension Plan (group policy) | 2TLT1340 | DC schemes |
Crest Secure Pension Plan (individual policy) | 2TLT1332 | DC schemes |
Individual Section 32 Buyout Plan | 2TLT1332 | Individual |
Talisman 98 Section 32 Buyout Plan | 2TLT1332 | Individual |