Important Retirement Account Information
You'll find all the important information about the Royal London Retirement Account here.
You can apply for an Retirement Account by calling us on 0345 050 2020. Mon to Fri: 8am - 7pm. Sat 9am-5pm. Sun 10am - 4pm.
Calls are free from UK landlines; mobile operators may charge
The documents below set out full details of our Investment ISA. These documents can be downloaded so you can read them in your own time.
If you require Adobe Reader to view any of the policy PDFs then please click on the link to be taken to the adobe website.
Rate of Interest
When you open our Retirement Account, we will hold your pension transfer as cash in a client bank account during the 30 day cancellation period. At the end of the cancellation period, your money will be invested in the Royal London Cautious Managed Fund. We pay the following rates of interest on cash held in the client bank account:
Rate of Interest (last updated on 01/02/2016) Balance Rate £0 - £49,999 0.00% £50,000 - £149,999 0.05% £150,000 - £249,999 0.10% £250,000 and above 0.15%
How we calculate the rate of interest:
Interest is calculated daily and applied to a customer’s cash account on a monthly basis.
IFDL earn a margin on the interest received. This margin depends upon the interest paid to customers and the interest rate received from Banks with whom we deposit customer monies.
In the unlikely event of a bank failure, the Financial Services Compensation Scheme (FSCS) guarantees up to £75,000 per person per firm (where separately authorised) in respect of retail deposits. To offer maximum protection, deposits would need to be divided equally between the above banks. However, in order to secure a competitive customers interest rate, this cannot be guaranteed.
Please note, the £75,000 protection covers a customer’s total holding with a single authorised institution.
For more information about the protection provided by the Financial Services Compensation Scheme (FSCS) please click here.