Is the Fixed Term Retirement Plan right for me?

It’s important that you only invest in the Fixed Term Retirement Plan if it meets your financial needs. You can’t change your mind once the plan has started, so you need to be sure that it’s right for you before you tie up your pension fund.

You must be able to invest at least £30,000 after taking any tax-free cash.

This plan may be suitable for you if you want to:

Invest for a fixed term of between five and 10 years
Take tax-free cash from a pension fund from which you haven’t yet taken any benefits
Take an income for a set number of years without locking yourself into a retirement income for life like an annuity
Continue investing your pension fund with some guarantees around the plan value at maturity
Leave your remaining pension fund for your dependants if you die before the maturity date. This may be subject to tax.

This plan may not be suitable for you if you want to:

Use your pension fund before the plan matures
Buy an income for life now
Be able to change your income during the term of the plan
Have the opportunity for higher growth on your investment by investing in funds with higher equity content.