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Fixed Term Retirement Plan

Is the Fixed Term Retirement Plan right for me?

Am I eligible

It's important that you only invest in the Fixed Term Retirement Plan if it meets your financial needs. You make all your choices at the start of the plan, so you need to be sure that it’s right for you before you tie up your pension fund. You must use your remaining pension fund to buy another retirement income product when the plan matures.

You can invest in a Fixed Term Retirement Plan:

  • From your 55th birthday
  • If you are resident in the UK
  • If you have at least £10,000 to invest after taking any tax-free cash and any adviser charge is paid from your pension fund
  • If you hold a UK registered pension scheme.

Contact us to find out if your pension fund is suitable.

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

  • Invest for a fixed term of between three and 25 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:

  • Be able to change your investment 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.

What pension funds can I use

You can transfer two types of pension fund into the Fixed Term Retirement Plan, funds that you have already taken benefits from and funds that you haven't taken benefits from. However you cannot have both fund types in the same plan, but you can set up separate plans.

Speak to your financial adviser or see our frequently asked questions for more information on the type of funds you can use.

How to apply

You can only invest in a Fixed Term Retirement Plan through a financial adviser.

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Contact us

For new policy enquiries please speak to your financial adviser. If you don't have an adviser, find one near you at http://www.unbiased.co.uk/.

If you are an existing customer, please call:

0845 301 6385

Monday - Friday
8.30am - 5.30pm

For our joint protection, telephone calls may be recorded and/or monitored.