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Protected Retirement Plan

Fixed Term Annuity - anytime conversion feature

Our Fixed Term Annuity enables clients to keep their retirement options open. Clients can change how they access their pension during the term of their plan and also stop and convert to any other retirement product.

For Flexi-access drawdown, the transfer value can be taken as a lump sum payment which will be taxed as income.

Values could be significantly lower than GMV in the early years or if investment conditions have worsened.

Who's eligible?

All customers automatically qualify for this feature when they take out a Fixed Term Annuity with us, so there’s no need to opt-in and there’s no extra charge.

How does it work?

We pay the current value of your client’s Guaranteed Maturity Value (GMV) plus their unpaid income payments. To calculate the current value we look at the value of the underlying investments at the date they convert the plan. There are no penalties for using the conversion feature.

For more information and an illustration of real customer returns from our conversion feature view our conversion features guide.

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK