Guide to With Profits Bonds
|
|
- Samantha Spencer
- 6 years ago
- Views:
Transcription
1 Guide to With Profits Bonds t r u s t e d c l e a r i n f o r m e d
2 Guide to With Profits Bonds Introducing With Profits Bonds Back in the 1990s, With Profits Bonds were a hugely popular way of investing for the future. As a single premium life assurance policy, the appeal lay in its aim of delivering steady growth, cushioned from the fluctuations normally associated with investing in the stock market. Ultimately, rather than proving to be a rewarding investment, the performance of some With Profits Bonds have disappointed and many With Profits Bond holders have understandably been left wondering what to do with them. Not all With Profits Bonds have performed badly. However, if you are disappointed by the level of returns your bond has delivered, there are a number of options available to you. This guide from Skipton Financial Services (SFS) aims to help you assess whether your With Profits Bond has delivered the return that you had expected, before outlining the potential options available. It can be difficult to accurately analyse whether it is financially better to encash or keep hold of your investments. However, Laterlife has teamed up with SFS to help you to weigh up the various advantages and disadvantages through SFS s With Profits Bond Review Service so you can make an informed decision. Who are SFS? Established in 1988, SFS is one of the country s leading financial advisory companies with over 100,000 clients throughout the UK. SFS is a wholly owned subsidiary of Skipton Building Society, and they share the same mutual ethos of putting their clients interests at the heart of what they do. Their quality of service and expertise has also been independently recognised, as SFS is one of the UK s largest advisory companies to be awarded Chartered Financial Planner status by the Chartered Insurance Institute (CII). SFS is also especially proud to be listed in the Sunday Times Top 100 Best Companies to work for in
3 A brief history of With Profits Bonds The concept of With Profits investments has been around for many years. These insurance policies were originally introduced by mutual insurance companies, as a way for their members to share in the profits generated by the company. These open ended life assurance policies were designed to provide steady returns from investment markets, without the fluctuations often suffered by other forms of stock market-linked investments. How they work A proportion of the profits made by the fund in one year would be put to one side and used to enhance the returns paid to investors in leaner years. This is done in an attempt to provide returns which do not fluctuate as significantly from year to year and is called the smoothing effect. The returns would usually take the form of regular annual bonuses called Reversionary Bonuses. In some cases, on maturity or encashment, a Terminal Bonus would also be paid. The potential size of this Terminal Bonus was an attractive feature, which further encouraged investors. 3
4 For more information call What went wrong? Over the 1990s these investments, in the main, provided more than satisfactory levels of returns increasing their popularity. However, when the dot com bubble burst around the turn of the millennium, the markets started to experience significant volatility. the smoothing effect which had largely worked well in the past could not cope with the unprecedented drop in equity markets and With Profits Bonds providers began to slash bonus rates and cease paying terminal bonuses, as well as introducing market Value reductions (mvrs). An MVR is an adjustment mechanism used to prevent those who encash their bonds from taking more than their share of the With Profits Fund. fluctuating performance of stock market Reserve Good times Reserve in times of adverse conditions the product provider may impose a market Value reduction on investors making full or partial withdrawals. terminal Bonus (if applicable) smoothing effect of With Profits fund Bad times currently, due to past poor stock market performance, reserves are low and market Value reductions are being applied across many With Profits Bonds. Market recoveries Some companies had also given certain investors guarantees, which at the time were economical to provide; but as market conditions worsened, they became increasingly expensive. These guarantees effectively create liabilities to the fund which companies are requested to cover by less volatile assets; forcing a switch out of equities. However, this caused many funds to miss out on the subsequent growth from a resurgent stock market, exacerbating the issues further. In fact, in extreme cases, problems surrounding With Profits Funds have caused weaker insurance companies to close their doors to new business altogether. 4
5 Guide to With Profits Bonds How they stand now In recent years, With Profits Bonds have endured a significant amount of negative press. However, not all investments have been the complete disasters they are broadly painted as being by the financial media. The difference in performance from one bond provider to another can be distinct, as the tables below demonstrate across a number of With Profits Bonds. While it is a useful way to compare your Bond s performance with others, past performance is not necessarily a guide to future returns. Based on encashment values of 10,000 investment over 5 years, as at 1 November 2010* Best With Profits Bond 13, % Annual Growth Rate Average With Profits Bond 11, % Annual Growth Rate Worst With Profits Bond 10, % Annual Growth Rate Based on encashment values of 10,000 investment over 10 years, as at 1 November 2010* Best With Profits Bond 15, % Annual Growth Rate Average With Profits Bond 12, % Annual Growth Rate Worst With Profits Bond 9, % Annual Growth Rate * Source: Money Management, January Stronger With Profits Bond funds which were able to see out periods of stock market uncertainty have performed significantly better than others. In contrast, many other companies which moved investments out of equity markets and into less volatile assets, when equities fell sharply, were not as well-positioned to benefit from the subsequent recovery in the markets. 5
6 Guide to With Profits Bonds so which companies have underperformed? if your With Profits Bond is provided by one of the companies below, SFS strongly recommend you contact them to have it reviewed as it is particularly likely to have underperformed. scottish mutual scottish Widows standard life friends Provident axa npi Pearl scottish equitable sun life royal & sun alliance clerical medical Regardless of how well your Bond has performed, there are a number of other important factors to consider and it is still worthwhile holding a review to determine its true value. 6
7 For more information call With Profits Bonds review areas to consider While past performance is a useful guide to how well your bond performed compared to others, it s more important to find out what you can expect from your investment in the future. There are a number of factors to consider when assessing the prospects of your bond, which are outlined below. Bonus Rates Many investors were originally attracted to With Profits Bonds by the high level of bonuses they were paying at the time of the investment. traditionally With Profits Bonds have paid two types of bonuses: reversionary bonuses at an annual rate terminal bonuses, an extra bonus on encashment or death. Currently, due to market conditions, terminal bonus payments are very rare and in general, reversionary bonus rates have dropped some to as low as nil. This has been particularly difficult for those investors who require this bonus for income. an investor should consider whether these basic returns are still sufficient to satisfy requirements, whether for income or growth, to allow the value of the bond to stay ahead of inflation. Some With Profits Bonds pay a guaranteed minimum bonus rate. This is obviously an attractive feature; however the payment of this guaranteed bonus may have an effect on other features, such as the rate of reduction of any MVR that is applicable. MVR (Market Value Reduction) If an investor decides to encash a With Profits Bond it is possible that an MVR could be applied to the investment which would reduce the proceeds (as mentioned earlier). An MVR is not a penalty but should be viewed as a reflection of the true value of the underlying investment in the With Profits Fund. The size and potential term of the MVR must be taken into account when considering encashment. For example, even if an MVR seems large, the potential returns from an alternative investment may outweigh the potential of the MVR on encashment. 7
8 For more information call Guaranteed MVR-Free Dates If a With Profits Bond would incur an MVR on encashment, it is possible that at some point in the future, such as the 10th anniversary an MVR is guaranteed not to apply on encashment on that date. If the MVR is large and the time to the particular anniversary short, this could be a very valuable feature. However, the opposite is also true in that, if the MVR is smaller and the term to the encashment point a significant period of time away, this guarantee may be deemed an insufficient reason to retain the bond. Bonds which have an MVR and future MVR-free date are effectively provided with a valuable minimum guaranteed growth rate if the bond is encashed at the future MVR free point. Investors should assess that guaranteed growth rate to help them decide whether to retain their bond. No MVR Guarantee on Death If a With Profits Bond holder s life expectancy is short either due to health or age, then, dependent upon circumstances (including the size of MVR), it may be better to retain the investment; as an MVR is not applied to most bonds on death. MVR-Free Amount Many providers allow withdrawals of a certain percentage of the original investment MVR-free every year, which is typically 7.5% (and the tax can potentially be deferred). If an MVR is being applied, consideration should be given to exploiting this MVR-free access. Term Since Investment Many With Profits Bonds have withdrawal penalties which apply on encashment within the first 5 years of an investment. If a bond is less than 5 years old, this charge must be taken into account prior to any encashment being made. Financial Strength The financial strength of a With Profits Bond provider is extremely important. The stronger the company the better; they are able to better support their With Profits Fund and allow investment into a more diverse range of long-term investments. However, all With Profits Bond providers financial strength have been affected by recent stock market performance and some have been left in a better position than others. The table opposite provided by AKG, an independent actuary, shows financial strength of a number of With Profits funds 5 being the strongest and 1 being the weakest. 8
9 Guide to With Profits Bonds AKG With Profits Fund Ratings Summary Group Company Funds Financial Strength Open UK Life Office With Profits Report Resolution AXA Sun Life plc traditional With 3 Profits Fund Standard Life Standard Life With Profits Fund 4 Legal & General Legal & General Assurance With Profits 5 society Ltd sub-fund Aviva aviva Life & Pensions Old With Profits 5 uk Ltd sub-fund Prudential Prudential Assurance With Profits 5 company Ltd sub-fund Closed UK Life Office With Profits Report Equitable Life The Equitable Life sterling With 1 assurance Ltd Profits Fund Resolution Friends Provident closed Fund 3 life Assurance Ltd Phoenix Group Phoenix Life Phoenix With 2 & Pensions Ltd Profits Fund AXA Winterthur Life UK Ltd With Profits Fund 2 Source: AKG With Profits Report, November Although not the only factor, the financial strength of the parent company plays a major part in determining the financial strength, and future performance, of its With Profits fund, and this factor must always be borne in mind when considering the future of this type of product. 9
10 Guide to With Profits Bonds Other factors to consider Before you make a decision on whether to cash in your With Profits Bond or keep it, it is also important to evaluate your own personal circumstances. So far we have helped you get an idea of how your investment could be performing and the intricacy of this type of investment, but your own personal situation can have a significant impact on whether you retain your investment or not. Your health One of the most important factors to consider surrounding your investments is your own health. A lot of people tend to forget that these investments have life assurance benefits attached. On death most With Profits Bonds will pay either 101% of the fund value or 101% of the surrender value whichever is higher. At this point, in general, no MVR or exit charge is imposed. This has a significant bearing on elderly investors in poor health, as this is a valuable guarantee. If they were to move their money to another investment and die shortly afterwards, they may have a reduced lump sum to pass onto their family. Your wealth You should also consider your financial situation. You should not look at your With Profits Bond in isolation, but consider these as part of your overall investment portfolio. Is this With Profits Bond a smaller part of a larger portfolio? If so, you may reach a different decision of what to do with it compared to someone who has the majority of their investments tied up in this type of investment. 10
11 For more information call Your risk profile It is also crucial to consider your risk profile. With Profits Bonds were typically sold as low to medium risk investments and, therefore, were bought by people who were fairly risk averse. For most people this meant that they wanted to invest in a product that offered the potential for reasonable growth, but with a lower level of risk. If you decide to cash in and move this type of investment, you should have a clear idea of where you want to re-invest this money, what the potential returns may be and the risk involved compared to what you are currently receiving from your With Profits Bond. Generally, as people get older they tend to be more cautious. But this comes at a cost, because with any financial investment there is a balance between risk and reward. Higher potential returns mean higher risks and there is a chance that your investment may fall in value, plus you could lose some of your original investment capital. Alternatively, low risk investments generally offer lower returns. After retirement, people tend to have limited opportunity to replace any lost savings; so careful consideration needs to take place if you are thinking of encashing your With Profits Bond. What to do next As this guide has highlighted, there are many things to consider when reviewing your With Profits Bond. Every investment should be considered independently, along with your own personal circumstances and long-term financial goals. With so many complex issues to consider, this has led to many investors being unsure as to what to do next. It can all seem very complicated and you could get immersed in small print when trying to sort these investments out yourself. However, SFS s no-obligation With Profits Bond Review Service will do this for you. They will identify any issues you should consider on your investment as well as take you through the advantages and disadvantages of keeping your bond, and determining what your next steps (if any) should be. 11
12 How to get in touch simply call sfs s dedicated team on and they will arrange an appointment for you to meet with one of sfs s advisers. alternatively, complete the form at the back of this guide with all the requested details and return to the following address, and sfs will contact you: Laterlife, Skipton Financial Services Ltd, With Profits Bonds Review Service, FREEPOST NEA4129, Skipton, North Yorkshire BD23 2BF (no stamp required) Any alternative investments SFS recommends may include equity-linked products. These are not like bank and building society accounts as their value can rise and fall and your capital is at risk. SFS charges a fee for the products they arrange for you. Any SFS charges, initial and/or ongoing, will be disclosed to you in writing before you make a final decision. The tax treatment of investments depends on your individual circumstances and may be subject to change in the future. 12
13 With Profits Bonds Please complete all your details below and overleaf, place in an envelope (no stamp required) and return to: Laterlife, Skipton Financial Services Ltd, With Profits Bonds Review Service, FREEPOST NEA4129, Skipton, North Yorkshire BD23 2BF Please fill in the information below: Name: Address: Postcode: Telephone Number: Address: * Mobile: * * Only provide your address or your mobile number if you would like to be contacted by either of these media. Date of Birth: With Profits Bond 1 Name of Provider when Bond taken out: (Note: Name of insurer may have changed since your Bond was taken out) Investment Date: Amount Invested: Income Taken: Yes No
14 With Profits Bond 2 Name of Provider when Bond taken out: (Note: Name of insurer may have changed since your Bond was taken out) Investment Date: Amount Invested: Income Taken: Yes No With Profits Bond 3 Name of Provider when Bond taken out: (Note: Name of insurer may have changed since your Bond was taken out) Investment Date: Amount Invested: Income Taken: Yes No Skipton Financial Services Limited may use the information on this form to provide you with details of our own selected products and services by post or by telephone. If you do not want to receive these, please tick here. Skipton Financial Services Limited would like to pass your details on to other carefully selected organisations in order that we can offer you information, goods and services that may be of interest to you. If you would prefer that your details are not passed to such organisations please tick this box. You are entitled to request details of the information we hold about you, we may make a small charge for this service. Simply write to the Data Controller at Skipton Financial Services Limited, The Bailey, PO Box 101, Skipton BD23 1XT. Registered in England No Skipton Financial Services Limited is authorised and regulated by the Financial Services Authority under registration number Skipton Financial Services Limited is a wholly owned subsidiary of Skipton Building Society.
15 15 Guide to With Profits Bonds
16 Skipton Financial Services Head Office in Skipton. Financial Advice is provided by: Skipton Financial Services Limited, The Bailey, PO Box 101, Skipton, North Yorkshire BD23 1XT Tel: Web: t r u s t e d We are experienced and trusted financial advisers so we only recommend the solutions that are right for you c l e a r Everything is clearly explained in plain English and we are always open and honest in our approach i n f o r m e d Our advice teams are experts and carry out continuous research to give you the most informed financial choices Registered Office: The Bailey, Harrogate Road, Skipton, North Yorkshire BD23 1DN. Registered in England, Number Authorised and regulated by the Financial Services Authority under registration number Skipton Financial Services Limited is a wholly owned subsidiary of Skipton Building Society. LLWPB/08/11
Update on how we manage the With-Profit Fund. Aviva Life & Pensions UK Limited With-Profits Sub-Fund
Update on how we manage the With-Profit Fund Aviva Life & Pensions UK Limited With-Profits Sub-Fund Contents This update tells you how the With-Profit Fund has performed recently and summarises the approach
More informationWith-profits summary. 1. Introduction. Aims of this summary
With-profits summary On 31 December 2015 business from other insurance company subsidiaries of Lloyds Banking Group was transferred into Clerical Medical Investment Group Limited, which contains the Clerical
More informationUpdate on how we manage the With-Profit Fund
Retirement Investments Insurance Update on how we manage the With-Profit Fund Aviva Life & Pensions UK Limited - Irish With-Profits Sub Fund Unitised with-profits policyholders This update tells you how
More informationUnitised with-profits plans. Your guide to how we manage our with-profits fund
Unitised with-profits plans Your guide to how we manage our with-profits fund Unitised with-profits plans Your guide to how we manage our with-profits fund Index 1 Introduction 2 What s our with-profits
More informationCOMBINE YOUR PENSIONS
COMBINE YOUR PENSIONS PAGE 1 INTRODUCTION PAGE 2 WHY COMBINE MY PENSIONS WITH SCOTTISH WIDOWS? PAGE 3 ARE THERE ANY PENSIONS THAT CAN T BE COMBINED? PAGE 4 THINGS TO CONSIDER PAGE 8 USE ILLUSTRATIONS PAGE
More informationUpdate on how we manage the With-Profit Fund
Retirement Investments Insurance Update on how we manage the With-Profit Fund Aviva Life & Pensions UK Limited - Irish With-Profits Sub Fund Conventional with-profits policyholders This update tells you
More informationAccumulating with-profits. Your guide to how we manage our with-profits fund
Accumulating with-profits Your guide to how we manage our with-profits fund Accumulating with-profits Your guide to how we manage our with-profits fund Index 1 Introduction 2 What s our with-profits fund?
More informationYour guide to pension transfers. About this guide
Informed This guide has all the things you need to think about if you re considering transferring your pension to Legal & General. It s designed to help you weigh up the pros and the cons so you can make
More informationOnline Fixed Rate Cash ISA Range Issue 72
Online Fixed Rate Cash Range Issue 72 These accounts might be right for you if: you want to be able to transfer in savings from previous tax years you have a lump sum to invest you want a fixed rate of
More informationHOW WE MANAGE THE SCOTTISH MUTUAL INTERNATIONAL DESIGNATED ACTIVITY COMPANY WITH-PROFITS FUND
HOW WE MANAGE THE SCOTTISH MUTUAL INTERNATIONAL DESIGNATED ACTIVITY COMPANY WITH-PROFITS FUND A guide for policyholders with with-profits policies invested in this fund The aims of this guide The guide
More informationprotected consensus bond series 2
protected consensus bond series 2 investing with confidence more options for your future Protected Consensus Bond Aim Access to some of the performance of our Consensus Fund, with capital protection at
More informationYOUR GUIDE TO PENSION TRANSFERS INFORMED.
YOUR GUIDE TO PENSION TRANSFERS INFORMED. This guide is all about the things you need to think about if you re considering transferring your pension. It s about helping you to weigh up the pros and the
More informationWith-Profits Performance Bond Fund (WP0) factsheet
For customers With-Profits Investments With-Profits Performance Bond Fund (WP0) factsheet Quarter three 2018 Fund information Fund provider Aegon Fund description The WP0 fund invests in a wide range of
More informationA GUIDE TO CONVENTIONAL WITH-PROFITS WITH-PROFITS INVESTMENTS
A GUIDE TO CONVENTIONAL WITH-PROFITS WITH-PROFITS INVESTMENTS HOW WILL THIS GUIDE HELP? This guide explains how our with-profits fund works for our conventional with-profits contracts and will help you
More informationReport to Clerical Medical UK With-Profits Policyholders. Report on Principles and Practices of Financial Management (PPFM) for 2017
Report to Clerical Medical UK With-Profits Policyholders Report on Principles and Practices of Financial Management (PPFM) for 2017 Report on Principles and Practices of Financial Management (PPFM) for
More informationPrinciples and Practices of Financial Management
Principles and Practices of Financial Management as at May 2015 Version 10 1 Contents Page 1. Introduction 3 2. Business Risks 4 3. Investment Strategy 5 4. Charges and Expenses 6 5. New Business 7 6.
More informationGuaranteed Growth Funds and Offshore With-Profits With-profits summary (Hong Kong)
Guaranteed Growth Funds and Offshore With-Profits With-profits summary (Hong Kong) Clerical Medical closed to new business in Hong Kong on 1 January 2005. This document has been produced in accordance
More informationRetirement Investments Insurance. Pensions. made simple TAKE CONTROL OF YOUR FUTURE
Retirement Investments Insurance Pensions made simple TAKE CONTROL OF YOUR FUTURE Contents First things first... 5 Why pensions are so important... 6 How a pension plan works... 8 A 20 year old needs to
More informationPension Portfolio J26372_LF10207_0318.indd 1 05/03/18 6:39 am
Pension Portfolio could be the perfect home for your pension. It allows you to take full advantage of the pension freedoms. Pension Portfolio has two options - Core and Choice - which are designed to meet
More informationFixed Rate Cash ISA Range Issue 54
Fixed Rate Range Issue 54 These accounts might be right for you if You want to be able to transfer in ISA savings from previous tax years. You have a lump sum to invest. You want a fixed rate of interest
More informationOLD MUTUAL SUPERFUND PRESERVER
OLD MUTUAL SUPERFUND PRESERVER MEMBER GUIDE BEING A PRESERVER MEMBER SHOWS YOUR COMMITMENT TO YOUR FINANCIAL FUTURE! Preserver allows you to continue your Old Mutual SuperFund Membership, even though you
More informationScottish Widows With Profits Fund Principles and Practices of Financial Management (PPFM)
Scottish Widows With Profits Fund Principles and Practices of Financial Management (PPFM) 1 General... 2 1.1 Introduction... 2 1.2 Background... 2 1.3 The With Profits Policies... 4 2 Structure of these
More informationTransfer guide. Combining your pensions with Zurich
Transfer guide Combining your pensions with Zurich This guide describes the potential benefits of you transferring the value of a pension to your current pension with Zurich and the things you should think
More informationKey Features of With-Profits Bond
Key Features of With-Profits Bond The Financial Conduct Authority is a financial services regulator. It requires us, Clerical Medical, to give you this important information to help you decide whether
More informationInvestment ISA. Tax free savings just for you
Investment ISA Tax free savings just for you Here for everyone Kingston Unity is a Friendly Society. We re totally different to banks, because we re owned by our members. We re run for the benefit of you,
More informationD&B (UK) Pension Plan DEFINED CONTRIBUTION (DC) SECTION
D&B (UK) Pension Plan DEFINED CONTRIBUTION (DC) SECTION Contents 1 Welcome to the D&B (UK) Pension Plan Defined Contribution (DC) section The DC section of the D&B (UK) Pension Plan (the Plan ) provides
More informationAviva Life & Pensions UK Limited Principles and Practices of Financial Management
Aviva Life & Pensions UK Limited Principles and Practices of Financial Management 1 January 2018 FLC With-Profits Sub-Funds Comprising the FLC New With-Profits Sub-Fund and the FLC Old With-Profits Sub-Fund
More informationThe Clerical Medical With Profits Fund Principles and Practices of Financial Management (PPFM)
The Clerical Medical With Profits Fund Principles and Practices of Financial Management (PPFM) On 31 December 2015 Clerical Medical Investment Group Limited, which contains the Clerical Medical With-Profits
More informationTHE ROYAL LONDON WITH PROFITS FUND. A guide to how we manage our With Profits fund
THE ROYAL LONDON WITH PROFITS FUND A guide to how we manage our With Profits fund CONTENTS Introduction 3 Financial Management 4 What is a With Profits policy? 5 How do you decide what to pay me? 6 How
More informationA guide to how we manage your unitised. with profits. investment. This is an important document that you should read and keep.
with profits an introduction to unitised with FUND profits GUIDE 1 A guide to how we manage your unitised with profits investment. This is an important document that you should read and keep. 2 An introduction
More informationAIB Portfolio Invest. Straightforward ways to invest. This product is provided by Irish Life Assurance plc.
AIB Portfolio Invest Straightforward ways to invest This product is provided by Irish Life Assurance plc. AIB has chosen Irish Life, Ireland s leading life and pensions provider, to provide its customers
More informationLife Assurance Plans
Life Assurance Plans SLFC Assurance UK With-Profits Fund bonus rates from 1 April 2016 Why are we sending you this brochure? This brochure accompanies your Annual Statement, providing you with further
More informationWHAT IT AIMS TO DO FOR YOU
Key Features of the PERSONAL PENSION The Financial Conduct Authority is a financial services regulator. It requires us, Old Mutual Wealth, to give you this important information to help you decide whether
More informationAviva Life & Pensions UK Limited Principles and Practices of Financial Management
Aviva Life & Pensions UK Limited Principles and Practices of Financial Management 1 January 2018 FLAS With-Profits Sub-Fund Retirement Investments Insurance Health Contents Page 1 Introduction 3 2 Targeting
More informationA GUIDE TO HOW WE MANAGE YOUR CONVENTIONAL WITH PROFITS INVESTMENT AN INTRODUCTION TO CONVENTIONAL WITH PROFITS.
A GUIDE TO HOW WE MANAGE YOUR CONVENTIONAL WITH PROFITS INVESTMENT AN INTRODUCTION TO CONVENTIONAL WITH PROFITS. This is an important document that you should read and keep. 2 AN INTRODUCTION TO CONVENTIONAL
More informationAIB Portfolio Invest. This product is provided by Irish Life Assurance plc. Investments. Straightforward ways to invest
Investments AIB Portfolio Invest Straightforward ways to invest This product is provided by Irish Life Assurance plc. Drop into any branch 1890 724 724 aib.ie AIB has chosen Irish Life, Ireland s leading
More informationFor pension Phoenix Life Limited. Principles and Practices of Financial Management
For pension 3.1.411.4.2 Phoenix Life Limited Principles and Practices of Financial Management January 2018 Phoenix Life Limited Principles and Practices of Financial Management Introduction and Background
More informationTax Exempt Savings Plans With Life Cover Option
Tax Exempt Savings Plans With Life Cover Option Here for everyone Kingston Unity is a Friendly Society. We re totally different to banks, because we re owned by our members. We re run for the benefit of
More informationCanInvest Select Account Investment solutions designed for you
INVESTMENTS PENSIONS INTERNATIONAL ESTATE PLANNING CanInvest Select Account Investment solutions designed for you Investing in your future The CanInvest Select Account Our Select Account is all about transparency,
More informationSCOTTISH WIDOWS WITH-PROFITS BONUS RATES
SCOTTISH WIDOWS WITH-PROFITS BONUS RATES Scottish Widows announces changes to bonus rates for its with-profits policies as of 1 January 2018. Regular bonus has been added to 250,000 unitised with-profits
More informationPruFund range of funds
PruFund range of funds Prudential Financial Planning 2 The Market Context Keeping all your savings in a deposit account or cash investment is secure and may be easy to access. However Returns can be low
More informationPrinciples and Practices of Financial Management. Sun Life Assurance Company of Canada (U.K.) Limited SLFC Assurance UK With-Profits Fund
and of Financial Management Sun Life Assurance Company of Canada (U.K.) Limited SLFC Assurance UK With-Profits Fund 1 Contents 1. Introduction 2 2. Amount payable under a SLFC Assurance UK With-Profits
More informationPersonal Pension. This document was last updated in October 2017 and is valid until October 2018.
Key Features of your Personal Pension The Financial Conduct Authority is a financial services regulator. It requires us, Old Mutual Wealth, to give you this important information to help you decide whether
More informationWith-Profits Endowment fund (WPE) factsheet
For customers With-Profits Investments With-Profits Endowment fund (WPE) factsheet Quarter one 2018 Fund information Fund provider Aegon Fund launch date January 1985 Fund description This fund can invest
More informationInvestment Bond from Aviva
Retirement Investments Insurance Investment Bond from Aviva Investments that work as hard as you do We are Aviva Helping people save for the future and manage the risks of everyday life Life is complex
More informationPhoenix Group announces its with-profits bonus rates for 2016/2017
Phoenix Group announces its with-profits bonus rates for 2016/2017 Estate distribution continues to uplift maturity values on most of our funds Almost eight in ten (78%) of our policies are now receiving
More informationDeposit Administration Fund (DAF) factsheet
For customers With-Profits Investments Deposit Administration Fund (DAF) factsheet Quarter two 2018 Fund information Fund provider Aegon Fund description The DAF fund offers a guarantee that the unit price
More informationA Beginner s Guide to Investing
A Beginner s Guide to Investing www.lonsdaleservices.co.uk 1 Contents 4 What are investments? 4 What is a portfolio? 4 What choice of asset classes do you have? 5 What is a stock market and how does it
More informationYour Guide to the AXA UK Group Pension Scheme Defined Contribution (DC) 2008 Section. For employees of AXA Investment Managers Limited
Your Guide to the AXA UK Group Pension Scheme Defined Contribution (DC) 2008 Section For employees of AXA Investment Managers Limited Members Guide 2015 02 Members Guide Introduction We all look forward
More informationEquitable Investment Funds
The Equitable Life Assurance Society Equitable Investment Funds IMPORTANT: PLEASE READ CAREFULLY If there is anything which you do not understand, or if you would like more information about any aspect,
More informationPhoenix Life Assurance Limited. Principles and Practices of Financial Management
6.3 Phoenix Life Assurance Limited Phoenix Life Assurance Limited Principles and Practices of Financial Management January 2018 Phoenix Life Assurance Limited Principles and Practices of Financial Management
More informationYOUR PENSION YOUR CHOICE
YOUR PENSION YOUR CHOICE Guardian Media Group Pensions Department Number 1 Scott Place, Manchester M3 3GG Tel: 0161 832 7200 Email: pensions@gmgplc.co.uk Website: www.gmgpensions.co.uk YOUR PENSION - YOUR
More informationA GUIDE TO HOW WE MANAGE THE PLAL WITH-PROFITS SUB-FUND
A GUIDE TO HOW WE MANAGE THE PLAL WITH-PROFITS SUB-FUND CONTENTS Page 1 Useful terms 2 2 Principles and Practices of Financial Management 3 3 What is a unitised with profits policy? 3 4 How do you decide
More informationSteady Growth With Profit Individual Saving Account
Key Features of LICI UK Steady Growth With Profit Individual Saving Account (NISA) 2017-2018 tax year (Stocks & Shares NISA) e Financial Conduct Authority is the independent financial services regulator.
More informationWith Profits Life ISA (top-ups)
With Profits Life ISA (top-ups) Key features of the With Profits Life ISA The Financial Conduct Authority is a financial services regulator. It requires us, LV=, to give you this important information
More informationCreated for you with your financial success in mind. Global Wealth Manager
Created for you with your financial success in mind Global Wealth Manager Your loyalty is rewarded Wouldn t you like to be rewarded for your loyalty? With Global Wealth Manager, our unit-linked investment
More informationtracker 8 With capital protection provided by Irish Life *Closing date may be earlier if we receive too many applications.
tracker 8 With capital protection provided by Irish Life Closing date 21 April 2011* *Closing date may be earlier if we receive too many applications. Committed to Plain English There is no financial jargon
More informationAviva Life & Pensions UK Limited Principles and Practices of Financial Management
Aviva Life & Pensions UK Limited Principles and Practices of Financial Management 1 January 2018 Secure Growth Fund Contents Page 1 Introduction 3 2 Targeting payouts 5 3 Interest rate policy and smoothing
More informationD&B (UK) Pension Plan DEFINED CONTRIBUTION (DC) SECTION
D&B (UK) Pension Plan DEFINED CONTRIBUTION (DC) SECTION Contents 1 Welcome to the D&B (UK) Pension Plan Defined Contribution (DC) section The DC section of the D&B (UK) Pension Plan (the Plan ) provides
More informationWITH PROFITS BONDS FUNDS GUIDE.
WITH PROFITS BONDS FUNDS GUIDE. You should read this document carefully and keep it safely together with the Key Features and your Personal Illustration. 2 WITH PROFITS BONDS FUNDS GUIDE WHAT IS THE FUNDS
More informationAims of this guide. Further Information. Glossary
Your With-Profits Plan a guide to how we manage the Fund Unitised With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) Your With-Profits Plan is a medium to long term
More information> What's a with-profits plan? > How does our With-Profits Fund work? > What are bonuses? > How are regular bonuses worked out?
Your With-Profits Plan a guide to how we manage the Fund Unitised With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) Your With-Profits Plan is a medium to long-term
More informationAIB Regular Invest. Straightforward regular investing. This product is provided by Irish Life Assurance plc.
AIB Regular Invest Straightforward regular investing This product is provided by Irish Life Assurance plc. AIB has chosen Irish Life, Ireland s leading life and pensions provider, to provide its customers
More informationConsidering surrendering your plan?
IMPORTANT INFORMATION This information may be downloaded to your PC in whole or in part provided that any reproduction or copy, or any derivative, is true to the original, and it is EITHER used for personal
More informationPrudential s With Profits Funds Key Fund Information. For adviser use only not to be distributed or relied upon by retail clients.
Prudential s With Profits Funds Key Fund Information For adviser use only not to be distributed or relied upon by retail clients. In giving your clients advice, you as the adviser, will have carefully
More informationDun & Bradstreet (UK) Pension Plan DEFINED CONTRIBUTION (DC) SECTION PUBLIC DUN & BRADSTREET (UK) PENSION PLAN DEFINED CONTRIBUTION (DC) SECTION
PUBLIC Dun & Bradstreet (UK) Pension Plan DEFINED CONTRIBUTION (DC) SECTION 1 Welcome to the Dun & Bradstreet (UK) Pension Plan Defined Contribution (DC) section The DC section of the Dun & Bradstreet
More informationYour guide to the SLOC With-Profits Fund
Your guide to the SLOC With-Profits Fund Life s brighter under the sun 2 This leaflet explains: How the SLOC With-Profits Fund ( Fund ) works How we invest the assets of the Fund How the Fund performed
More informationPrinciples and Practices of Financial Management (PPFM)
Principles and Practices of Financial Management (PPFM) Flexible Guarantee Bond Flexible Guarantee Funds Flexi Guarantee Plan All-in-1 Investment Bond Guaranteed Capital Bond Version 7.2 1 December 2017
More informationSavings account conditions (inc cash ISAs)
Savings account conditions (inc cash ISAs) For use from 6th April 2018 Welcome to Halifax This booklet explains how your Halifax savings account works, and includes its main conditions. This booklet contains:
More informationAon Group Personal Pension Plan
Aon Group Personal Pension Plan Retirement Planning Booklet November 2009 Valid until April 2010 Aon Consulting Limited is authorised and regulated by the Financial Services Authority Contents Introduction...1
More informationKEY GUIDE. Taking income at retirement
KEY GUIDE Taking income at retirement Planning the longest holiday of your life There comes a time when you stop working for your money and put your money to work for you. For most people, that is retirement.
More informationYOUR GUIDE TO OUR FUNDS NFU MUTUAL FUND GUIDE
YOUR GUIDE TO OUR FUNDS NFU MUTUAL FUND GUIDE YOUR GUIDE TO OUR FUNDS This guide is intended to introduce you to our funds and help you decide which ones may be suitable for you to invest in. We don t
More informationGETTING THE MOST FROM YOUR PENSION SAVINGS
GETTING THE MOST FROM YOUR PENSION SAVINGS 2 Getting the most from your pension savings CONTENTS 04 Two types of pension 05 Tax and your pension An overview 05 Who can pay into a pension? 05 How does tax
More informationPhoenix Group announces its with-profits bonus rates for 2017/2018
Phoenix Group announces its with-profits bonus rates for 2017/2018 Estate distribution continues to uplift maturity values on most of our funds Three in four (75%) of our policies are now receiving an
More informationTaking income at retirement FINANCIAL
Taking income at retirement FINANCIAL KEY GUIDE January 2019 Taking an income at retirement 2 Introduction PLANNING THE LONGEST HOLIDAY OF YOUR LIFE There comes a time when you stop working for your money
More informationOnline Cash Lifetime ISA
Online Cash Lifetime ISA A Lifetime ISA can be used for both home purchase and saving towards retirement. This account might be right for you if: This account might not be right for you if: you ve never
More informationA guide to how we manage our with profits fund
Contents Page 1 Useful terms 2 2 Principles and Practices of Financial Management 3 3 What is a with profits policy? 3 4 How do you decide how much to pay me? 4 5 How do you decide bonuses? 4 6 What is
More informationSpectrum Bond. Choice never looked so good
Choice never looked so good Why choose Aviva? Around the world, Aviva plc, the parent company of Aviva Group Ireland plc, provides around 32 million customers with life insurance, savings and investment
More information1. Background Introduction
1. Background Introduction February 2019 This guide gives you an overview of the points you should consider before you decide how you should invest your AVC contributions. There is a range of funds in
More informationChild Tax Exempt Savings Plan. A helping hand for their future
Child Tax Exempt Savings Plan A helping hand for their future Welcome to Foresters Friendly Society, where we work hard to make personal finances easy to understand and treat all our members as part of
More informationThe information in this document forms part of the Mercy Super Product Disclosure Statement (PDS)
Income account guide The information in this document forms part of the Mercy Super Product Disclosure Statement (PDS) Issued 30 September 2017 Inside... 1. Welcome to Mercy Super 3 2. A snapshot of our
More informationYour guide to retirement savings and fund choices. The Merck Group 2006 Pension Scheme
Your guide to retirement savings and fund choices The Merck Group 2006 Pension Scheme Contents What is The Merck Group 2006 Pension Scheme (the plan)? 3 Can I rely on the State alone? 4 What are my alternatives?
More informationWhy do you need a pension? State and other types of pension schemes. Company or occupational pensions offered by Employers
Contents: What is a pension? Why do you need a pension? State and other types of pension schemes Company or occupational pensions offered by Employers Personal or private pension schemes Shopping around
More informationLifetime ISA. Key Features. "Why should I read this document?"
Lifetime ISA Key Features "Why should I read this document?" The Financial Conduct Authority is a financial services regulator. It requires us, the Metropolitan Police Friendly Society, to give you this
More informationOur unitised and new generation with-proits funds
For customers Our unitised and new generation with-proits funds What s this guide for? 02 What funds does this guide cover? What s not included? Where can I find out more? Deinitions 04 With-proits 05
More informationGuide to buying an annuity
Guide to buying an annuity 2 Welcome to our guide to buying an annuity You now have more choice than ever before when it comes to using your pension savings. Of course having more options can make it difficult
More informationTHE skandia plan. A unit-linked life assurance plan that can provide cover throughout your life. for information only.
Key features of THE skandia plan A unit-linked life assurance plan that can provide cover throughout your life for information only. this product is closed to new business The Financial Conduct Authority
More informationIndividual Buy Out Plan
IMPORTANT INFORMATION This information may be downloaded to your PC in whole or in part provided that any reproduction or copy, or any derivative, is true to the original, and it is EITHER used for personal
More informationBUYING AND SELLING PROPERTY OVERSEAS A GUIDE TO INTERNATIONAL PAYMENTS
BUYING AND SELLING PROPERTY OVERSEAS A GUIDE TO INTERNATIONAL PAYMENTS CONTENTS 1 Managing the Cost of Currency 2 Top Tips for Regular Payments Overseas 3 Timing is everything 4 Caxton Premier A New Standard
More informationProduct Guide and Terms & Conditions of the My Choice policy within the Scottish Friendly Junior ISA
My Choice (Junior ISA) April 2018 Product Guide and Terms & Conditions of the My Choice policy within the Scottish Friendly Junior ISA The My Choice policy is a savings and investment policy which will
More informationLICI UK Steady Growth With Profit Individual Saving Account (ISA) tax year
Key Features of LICI UK Steady Growth With Profit Individual Saving Account (ISA) 2011-2012 tax year e Financial Services Authority is the independent financial services regulator. It requires us, LICI
More informationKEY FEATURES OF THE INVESTMENT BOND FOR INCREMENTS TO POLICIES TAKEN OUT ON OR AFTER 6TH DECEMBER Important information you need to read
KEY FEATURES OF THE INVESTMENT BOND FOR INCREMENTS TO POLICIES TAKEN OUT ON OR AFTER 6TH DECEMBER 2010 Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR.
More informationYOUR GUIDE TO THE INVESTMENT BOND
YOUR GUIDE TO THE INVESTMENT BOND CONTENTS Welcome to the Investment Bond 03 Managing your Bond 04 Investment choice 06 Summary and charges 07 Tax and your Bond 08 YOUR GUIDE TO THE INVESTMENT BOND 2 of
More informationClient Services. Assessing Your Attitude to Risk. 1 Lonsdale Services Limited
Client Services Assessing Your Attitude to Risk 1 Lonsdale Services Limited Understanding your attitude towards investment risk, reward and volatility is an essential requirement before we recommend an
More informationPENSIONS INVESTMENTS LIFE INSURANCE CLEAR REGULAR INVEST STRAIGHTFORWARD INVESTMENT SOLUTIONS
PENSIONS INVESTMENTS LIFE INSURANCE CLEAR REGULAR INVEST STRAIGHTFORWARD INVESTMENT SOLUTIONS ABOUT US Established in 1939, Irish Life is Ireland s leading life and pension company. Since July 2013 Irish
More informationProtected* Capital Account - Inflation Linked 1 (the "Plan")
Yorkshire Building Society (the "Distributor" and the "Deposit Taker") Protected* Capital Account - Inflation Linked 1 (the "Plan") Potential return dependent on the All Items Retail Prices Index (RPI)
More informationSavings account conditions (inc cash ISAs)
Savings account conditions (inc cash ISAs) For use from 2nd November 2017 Changes to your terms and conditions We are making some changes to your savings account terms and conditions. The changes will
More informationREPORT TO SCOTTISH WIDOWS WITH-PROFITS POLICYHOLDERS
REPORT TO SCOTTISH WIDOWS WITH-PROFITS POLICYHOLDERS REPORT ON PRINCIPLES AND PRACTICES OF FINANCIAL MANAGEMENT (PPFM) FOR 2017 THIS ANNUAL REPORT TELLS YOU HOW WE HAVE MANAGED THE SCOTTISH WIDOWS WITH-PROFITS
More informationFlexible Guarantee Bond Series 3
Flexible Guarantee Bond Series 3 Supplementary Information Document (SID) This document provides you with additional important information to help you to decide whether our Flexible Guarantee Bond is right
More informationMERCER JELF FINANCIAL PLANNING
MERCER JELF FINANCIAL PLANNING Advised Pension Services Ensuring that you can afford the retirement lifestyle you want is one of life s main financial objectives. However, the increasingly complex nature
More information