Fixed Term Retirement Plan

Am I eligible

You can invest in a Fixed Term Retirement Plan:

Investing using pension funds from which you haven’t yet taken any benefits

You can transfer as many pension funds as you like into one Fixed Term Retirement Plan as long as you haven’t taken any benefits from any of them. Your plan will start once we receive the last of the funds and you’ve met all our requirements.

You can take up to 25% tax-free cash from these funds, but please bear in mind that we won’t pay it out until we’ve received all the funds you’re using to set up the plan and anything else we’ve reasonably asked you for. If you choose not to take a tax-free cash lump sum at this time, you won't be able to take it at a later date.

Investing using pension funds from which you’ve already taken benefits

We can only accept one pension fund transfer into any one plan from funds from which you’ve already taken benefits. This means that if you have several of these types of funds to invest in a Fixed Term Retirement Plan, you’ll need to set up a separate plan for each fund.

There are several things you need to bear in mind if you decide to put these funds into a Fixed Term Retirement Plan:

• You can’t take tax-free cash from these funds.
• You can’t use any funds from which you’ve already taken an income in the current pension year.
• You’ll give up any entitlement you have to taking an income greater than 100% of the GAD maximum income and also move to a three year GAD review cycle.

See our frequently asked questions for more information about taking an income.

If you wish to transfer pension funds where no benefits have been taken and pension funds from which you’ve already taken benefits, you’ll need to set up a separate plan for each.

Talk to an adviser

You can only invest in a Fixed Term Retirement Plan through a financial adviser. The adviser will be able to tell you if this product is suitable for you.

If you don’t have an adviser, you can call us on 0800 404 6234 or visit www.unbiased.co.uk to find an adviser in your area.

We can only advise on our own products.

WC04055 04/2012