Introducing our personal pension
We understand there's no single recipe for a successful retirement. And that your needs and goals will often change as life unfolds.
That's why we've packed our personal pension full of flexibility. So you can enjoy all the tax benefits of pension saving and keep the freedom to adjust things as and when you need to.
We call it Pension Portfolio.
What makes Pension Portfolio so special?
Pay for what you use
We think you should only pay for the services you use - so we build a competitive charging structure around the chosen features of your plan. That way, you'll always know exactly what you're paying for.
Put in what you like
Beyond our minimum levels, you can tell us how much and how often you'd like to save. You can change your contributions at any time, make one-off single contributions and transfer the value of any other pension plans you have into your Pension Portfolio plan.
We offer a selection of professionally managed investment funds run by a number of leading investment managers. These funds invest in a wide range of different assets, from company shares (equities) to cash and property. We also offer a range of funds and lifestyle strategies from leading discretionary fund managers at very competitive costs.
This additional investment flexibility lets you invest in a fund supermarket and directly in a range of alternative investments, such as company shares and UK commercial property.
Take your retirement benefits how you like them
Any time after age 55 you are able to use your plan value to:
- take regular, lump sum or one-off payments, including tax-free cash payments. Only 25% of what you'll be able to take will be tax-free,
- buy an annuity which will provide you with up to 25% tax-free cash and/or income,
- have the flexibility to take the income you need, when you need it. We currently offer this through our income drawdown plan, Income Release, or
- use a combination of all the options.
Investment returns are never guaranteed so you could get back less than you put in.
You should also remember that tax rules depend on your individual circumstances and may change.
Find out more
Download our Pension Portfolio Welcome Guide for more information.