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Protected Retirement Plan

Trustee death benefits

Is your client worried about passing away before the end of their Trustee Investment Plan? They can choose to buy one of our optional death benefits at the start of the plan. There are two of these options outlined below:

1. Value protection
  1. Your client can protect up to 100% of their original investment if they pass away within the plan term.
  2. The lump-sum payable will be the initial amount used to purchase the Protected Retirement Plan (or they can choose to protect a proportion of this amount), less the total amount of income paid.
2. Plan Protection
  • The trustee can choose to protect some or all of the plan income and/or Guaranteed Maturity Value, by including plan protection when they set up their Protected Retirement Plan.
  • Plan protection means if the member dies during the plan term, the income and Guaranteed maturity Value will continue to be paid for the rest of the plan term.
  • If the scheme trustees or chosen beneficiary(s) do not want or are unable to continue with the plan, they can utilise the conversion option and end the plan immediately, thereby swapping the remaining income and/or GMV for a lump-sum

Taxation

  • All death benefits will be paid gross to the trustees of the pension scheme to be dealt with under the rules of that pension scheme.

Tax treatment depends on your client's personal circumstances. Any references to taxation are based on our understanding of current legislation and HM Revenue & Customs practice, which can change.

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