Protected Retirement Plan

Take a closer look to see how our Protected Retirement Plan works in practice. You can also see how it compares with lifetime annuities and drawdown pensions.

We’re proud of the flexibility of our product and we’ve provided a number of case studies to help you decide if it’s suitable for your clients.

If you have any questions, we’ve answered the main ones in our FAQ, or you can speak to our dedicated team to find out more.

Important things you should know

• Once your client's plan starts, they can't usually change it or cash it in at any time
• We only accept funds from registered pension schemes
• For pension transfers your client must be living in the UK when the plan starts
• We may have to reduce your client’s income and any dependant’s income because of applying the GAD maximum income limit for capped drawdown. If we do this we will pay the difference between the full income and the restricted income, plus interest, when the plan ends.
• There are no income restrictions for clients in flexible drawdown as long as the selected income is sustainable throughout the chosen term.
• How much tax your client pays depends on their personal circumstances. For details of how contributions and benefits from your client’s plan will be taxed, please see the Key Features document. Any references we make to taxation are based on our understanding of current legislation and HM Revenue & Customs practice, which can change. If the Government changes the tax treatment of this plan the income paid to your client may fall.