Single contribution application form
You should read and confirm your agreement of this section. If there’s anything that you don’t fully understand you should speak to your financial adviser or Royal London.
I confirm that:
- this is my application to apply a single contribution which is detailed in section 2, to my existing Pension Portfolio Plan with Royal London;
- I want Royal London to invest my single contribution in the same investment choice as my plan’s existing investments;
- if I’ve triggered the money purchase annual allowance (MPAA) by flexibly accessing my retirement savings with Royal London or any other provider, I’ve already made Royal London aware of this.
I authorise Royal London to:
- accept any reasonable instructions regarding my plan from any financial adviser appointed by me as if the instructions were given by me directly. I understand Royal London cannot be held responsible for any consequences of relying on these instructions;
- disclose information concerning my plan, including any adviser charges, to any financial adviser appointed by me in order for them to provide me with advice and services that relate to my plan. If I don’t want Royal London to share information about my plan, I understand that I can inform Royal London of this by writing in the way described in the ‘Privacy notice’ section.
I understand that:
- if I’ve agreed that adviser charges will be deducted from my plan in return for the advice and services I’ve received from my current financial adviser held on Royal London’s records, and which relate to my single contribution, these are detailed in section 5 of this application form; and
- any adviser charges I agree with my financial adviser are a matter between me and my financial adviser and Royal London will not get involved with any dispute I may have with my financial adviser regarding the adviser charges;
- my financial adviser has discussed any agreed adviser charges with me and I understand the impact they’ll have on my plan; if I want to find out how these adviser charges will be deducted from my plan, this is detailed within my Plan booklet;
- if I’ve agreed my financial adviser will receive an adviser charge as a percentage of my single contribution, this adviser charge instruction will also apply to any future single contributions that I make to my plan within the next 24 months, unless I tell Royal London otherwise. However if I choose to make a further single contribution to my plan and more than 24 months has passed since I made my last single contribution, I understand Royal London will require a new adviser charge instruction;
- if I want to change an agreed adviser charge instruction, I’ll need to provide Royal London with a new instruction;
- if I change my financial adviser I should let Royal London know as soon as possible. In such circumstances, Royal London will continue to pay any outstanding initial adviser charge to my previous adviser. I also understand that if I want to pay an adviser charge to a new financial adviser I will need to provide Royal London with a new adviser charge instruction;
- if Royal London stops making adviser charge payments to my financial adviser for any reason, or if I instruct Royal London to discontinue paying an adviser charge to my financial adviser or if I cancel my single contribution within the cancellation period, I may remain liable to reimburse my financial adviser for the cost of the advice and services provided to me. I should check the terms of my agreement with my financial adviser in this event;
- if I decide to cancel my single contribution within the cancellation period, Royal London will not refund any adviser charge payment that has been made to my financial adviser in relation to that single contribution;
- any adviser charge that I agree with my financial adviser will be in addition to any plan charges that may be required by Royal London;
- the terms of my plan are detailed within the Pension Portfolio Core Investments Plan booklet which I received when I applied for my plan. I also understand that if I require an additional copy of this Plan booklet I can request a copy at any time;
- the information detailed within this form will be used to structure my investments and provide benefits under my plan;
- if I’ve not already triggered the money purchase annual allowance under any other pension plan but do so in the future, then it’s my responsibility to inform Royal London of this within 91 days of the trigger;
- I won’t be able to cash-in, assign or take as a lump sum, any pension bought by my plan except as allowed by Part 4 of the Finance Act 2004 (as amended).
It’s a serious offence to make false statements in order to obtain tax relief on contributions. The penalties are severe and could lead to prosecution.