Cofunds Pension Account Data Capture Form

Cofunds Pension Account Data Capture Form The Cofunds Pension Account is provided by Suffolk Life This form is for your internal use only DO T send to Aegon or Suffolk Life. Use this form to gather details from your client in order to create an online Cofunds Pension Account application. Note: Not all fields will directly apply to your client, therefore please ensure you only gather details relevant to their application. 1 Adviser Charges Initial advice charge or % Ongoing advice charge Charge model name % of AUM % or tiered percentage rate % or fixed amount per month (please enter the highest percentage rate that applies) 2 Client Details (Please complete this section in full) 2.1. PERSONAL Product number 8 National Insurance Number e.g. SK 76 83 27 D - - Mr/Mrs/Ms/Miss/Other - please specify Full forename(s) Surname Nationality Country of residence Gender Male Female Expected retirement age If married or in a registered civil partnership enter spouse s/registered civil partner s date of birth years Marital status Single Married Civil Partnership / / D D M M Y Y Y Y Spouse s/registered civil partner s gender Male Female Date of birth / / D D M M Y Y Y Y 2.2. CLIENT CONTACT DETAILS Home phone number Work phone number Has your client changed their address in the last TWO years? Fill in the right hand fields Continue to Section 2.2a 2.2a Is the client s correspondence address the same as their residential one? Continue to Section 2.3 Fill in the right hand fields Home phone number Work phone number Email address Page 1 of 12

2 Client Details (Continued - Please complete this section in full) 2.3. CLIENT STATUS What is the client s current work status? (select one of the following and enter any additional information required) Employed Continue to Section 2.3a Receiving a pension on which he/she is taxed Self-employed Enter the firm name below if different from that of your client Caring for one or more under 16s Caring for person 16+ In full-time education Unemployed Other Please provide further details 2.3a Employer s details Employer s name 2.4. TAX STATUS UK-relevant individual Non-relevant individual 3 Client Verification 3.1. IDENTITY The documents to satisfy the anti-money laundering requirements set out within the guidance for the UK financial sector issued by the Joint Money Laundering Steering Group (JMLSG) are listed in Section 3.1a below. You should ensure that you have certified copies of the documents seen. 3.1a Identity evidence (Ensure you tick at least one box in each column) For proof of name: Current full passport Residence permit issued to EU nationals by the Home Office Current UK/EU photo driving licence Current full UK driving licence (old style) Firearms certificate State pension or benefits book/notification letter Subcontractors certificate HM Revenue and Customs tax notification For proof of address: Home visit Solicitor letter confirming completion of house purchase or land registration Electoral roll check Mortgage statement Current local authority tax bill Local authority rent card or tenancy agreement Bank/Building Society/Credit Union statement or passbook Utility bill (not mobile phone) Current UK/EU photo driving licence Current full UK driving licence (old style) State pension or benefits book/notification letter Page 2 of 12

3 Client Verification (Continued) 3.2. SOURCE OF FUNDS Current occupation Gross Annual Earnings 0-14,999 15,000-29,999 30, 000-59,999 60,000-99,999 100,000-149,999 150,000 + Source of wealth: Income from employment Income from savings/investments Gift Lottery and other gambling winnings Inheritance Property sale Divorce settlement Pensions income from registered pension scheme Income from lifetime annuity Other Specify 3.3. EVIDENCE OF AGE Does your client intend to take benefits from their plan within the next 12 months? They must provide evidence of age Continue to Section 3.3a Continue to Section 4 3.3a Evidence of age Birth certificate details The following details must replicate those found on the client s birth certificate Client name Client place of birth Date of registration Did your client change his/her name upon Marriage/Civil Partnership? Provide details below that replicate those on the Marriage/Civil Partnership certificate Continue to Section 4 Registration district Parish (if applicable) Entry number Name of Registrar/official witness Page 3 of 12

4 Transfers 4.1. TRANSFER 1 Will transfers be made into your client s plan? Please complete all relevant details in this section Continue to Section 5 4.1a Scheme transfer questions If you are not sure, please check with your client s current scheme Is the scheme a defined benefits scheme? Does the scheme contain Guaranteed Annuity Rates? Does the scheme contain any other safeguarded benefits that provide a guarantee or promise such as Guaranteed Minimum Pension (GMP) or guaranteed growth rates? If the answer to any of the above three questions is yes, please confirm that a suitably authorised financial adviser recommended the scheme transfer in Section 4.1c below. Aegon and Suffolk Life are unable to accept non-advised safeguarded benefits transfers. If the answer to all of the above three questions is no, please confirm whether the scheme is: Occupational Personal If the scheme is occupational, please confirm if a suitably authorised financial adviser recommended the scheme transfer in Section 4.1c below. 4.1b Scheme details Full name of scheme to be transferred On what basis is the transfer being effected? Type of scheme to be transferred (e.g. personal pension, executive pension plan, etc) Estimated transfer value or Cash only Continue to the Scheme administrator address field later in this section Stock (In specie) Please confirm below how details of the investment to be transferred will be provided Name of scheme provider Policy number I will enclose a portfolio valuation (including SEDOL numbers) with the application I want to provide information about the investments in this application online please provide details below Scheme administrator Please note that in order to process your client s Cofunds Pension Account a signed discharge form will need to be sent in with the completed application form. You should check with your current pension provider to see if they use Origo systems for pension transfers and whether they require a dsicharge form to be sent in with the completed application form. Telephone number Amount SEDOL number Full name of investment Number of units/ shares held Where is the investment currently held 4.1c Transfer advice Has your client received appropriate advice on the suitability of the transfer? Aegon and Suffolk Life are unable to accept non-advised safeguarded benefits transfers From my firm From a different adviser firm enter firm details below Firm name FCA reference no for company (FRN) Individual s name Page 4 of 12

4 Transfers (Continued) 4.2. TRANSFER 2 Will transfers be made into your client s plan? Please complete all relevant details in this section Continue to Section 5 4.2a Scheme transfer questions If you are not sure, please check with your client s current scheme Is the scheme a defined benefits scheme? Does the scheme contain Guaranteed Annuity Rates? Does the scheme contain any other safeguarded benefits that provide a guarantee or promise such as Guaranteed Minimum Pension (GMP) or guaranteed growth rates? If the answer to any of the above three questions is yes, please confirm that a suitably authorised financial adviser recommended the scheme transfer in Section 4.2c below. Aegon and Suffolk Life are unable to accept non-advised safeguarded benefits transfers. If the answer to all of the above three questions is no, please confirm whether the scheme is: Occupational Personal If the scheme is occupational, please confirm if a suitably authorised financial adviser recommended the scheme transfer in Section 4.2c below. 4.2b Scheme details Full name of scheme to be transferred On what basis is the transfer being effected? Type of scheme to be transferred (e.g. personal pension, executive pension plan, etc) Estimated transfer value or Cash only Continue to the Scheme administrator address field later in this section Stock (In specie) Please confirm below how details of the investment to be transferred will be provided Name of scheme provider Policy number I will enclose a portfolio valuation (including SEDOL numbers) with the application I want to provide information about the investments in this application online please provide details below Scheme administrator Please note that in order to process your client s Cofunds Pension Account a signed discharge form will need to be sent in with the completed application form. You should check with your current pension provider to see if they use Origo systems for pension transfers and whether they require a dsicharge form to be sent in with the completed application form. Telephone number Amount SEDOL number Full name of investment Number of units/ shares held Where is the investment currently held 4.1c Transfer advice Has your client received appropriate advice on the suitability of the transfer? Aegon and Suffolk Life are unable to accept non-advised safeguarded benefits transfers From my firm From a different adviser firm enter firm details below Firm name FCA reference no for company (FRN) Individual s name Page 5 of 12

4 Transfers (Continued) 4.3. TRANSFER 3 Will transfers be made into your client s plan? Please complete all relevant details in this section Continue to Section 5 4.3a Scheme transfer questions If you are not sure, please check with your client s current scheme Is the scheme a defined benefits scheme? Does the scheme contain Guaranteed Annuity Rates? Does the scheme contain any other safeguarded benefits that provide a guarantee or promise such as Guaranteed Minimum Pension (GMP) or guaranteed growth rates? If the answer to any of the above three questions is yes, please confirm that a suitably authorised financial adviser recommended the scheme transfer in Section 4.3c below. Aegon and Suffolk Life are unable to accept non-advised safeguarded benefits transfers. If the answer to all of the above three questions is no, please confirm whether the scheme is: Occupational Personal If the scheme is occupational, please confirm if a suitably authorised financial adviser recommended the scheme transfer in Section 4.3c below. 4.3b Scheme details Full name of scheme to be transferred On what basis is the transfer being effected? Type of scheme to be transferred (e.g. personal pension, executive pension plan, etc) Estimated transfer value or Cash only Continue to the Scheme administrator address field later in this section Stock (In specie) Please confirm below how details of the investment to be transferred will be provided Name of scheme provider Policy number I will enclose a portfolio valuation (including SEDOL numbers) with the application I want to provide information about the investments in this application online please provide details below Scheme administrator Please note that in order to process your client s Cofunds Pension Account a signed discharge form will need to be sent in with the completed application form. You should check with your current pension provider to see if they use Origo systems for pension transfers and whether they require a dsicharge form to be sent in with the completed application form. Telephone number Amount SEDOL number Full name of investment Number of units/ shares held Where is the investment currently held 4.1c Transfer advice Has your client received appropriate advice on the suitability of the transfer? Aegon and Suffolk Life are unable to accept non-advised safeguarded benefits transfers From my firm From a different adviser firm enter firm details below Firm name FCA reference no for company (FRN) Individual s name Page 6 of 12

5 Contributions Will contributions be made into your client s plan? Select the contribution type below Continue to Section 6 MONEY PURCHASE ANNUAL ALLOWANCE (MPAA) The MPAA is an allowance which may apply to your money purchase pension contributions. The MPAA is triggered by accessing any of your pensions in certain ways, such as receiving income in flexi-access drawdown or from a flexible annuity. The MPAA from 6 April 2017 is 4,000. If you have triggered the MPAA, your scheme administrator or insurance company will have provided you with a statement confirming this. Please confirm whether you have triggered the MPAA: I have not triggered the MPAA I have triggered the MPAA: Date of MPAA trigger Scheme where trigger occurred 5.1. CONTRIBUTION 1 Type of contribution: Personal contribution (net) Employer contribution (gross) Third party contribution (net) Personal Contribution (gross) Employer name (if applicable) Contact name for employer (if applicable) Third party name (if applicable) Bank or Building Society Is the contribution to be single or regular? Single Only complete the below fields before progressing to Section 6 Contribution amount. Contribution method Cheque Product cash facility Monthly Complete the following fields regarding your clients regular contribution Name(s) of account holders Contribution amount. per month Start date of regular contribution / M M Y Y Y Y Account Number Sort Code TE: If your client wishes to start their contribution on the first day of the next month, we will endeavour to start their Direct Debit. If we are unable to do this, your client s contribution will start on the first working day of the following month. Building Society Roll Number 5.2. CONTRIBUTION 2 Type of contribution: Personal contribution (net) Employer contribution (gross) Third Party contribution (net) Personal contribution (gross) Employer name (if applicable) Contact name for employer (if applicable) Third party name (if applicable) Bank or Building Society Is the contribution to be single or regular? Single Only complete the below fields before progressing to Section 6 Contribution amount. Contribution method Cheque Product cash facility Monthly Complete the following fields regarding your clients regular contribution Name(s) of account holders Contribution amount. per month Start date of regular contribution / M M Y Y Y Y TE: If your client wishes to start their contribution on the first day of the next month, we will endeavour to start their Direct Debit. If we are unable to do this, your client s contribution will start on the first working day of the following month. Account Number Building Society Roll Number Sort Code For an additional contribution complete Section 5.3 on the next page. Page 7 of 12

5 Contributions (Continued) 5.3. CONTRIBUTION 3 Type of contribution: Personal contribution (net) Employer contribution (gross) Third party contribution (net) Personal contribution (gross) Employer name (if applicable) Contact name for employer (if applicable) Third party name (if applicable) Bank or Building Society Is the contribution to be single or regular? Single Only complete the below fields before progressing to Section 6 Contribution amount. Contribution method Cheque Product cash facility Monthly Complete the following fields regarding your clients regular contribution Name(s) of account holders Contribution amount. per month Start date of regular contribution / M M Y Y Y Y Account Number Building Society Roll Number Sort Code TE: If your client wishes to start their contribution on the first day of the next month, we will endeavour to start their Direct Debit. If we are unable to do this, your client s contribution will start on the first working day of the following month. 6 Flexi-access Drawdown Requirements 6.1. LIFETIME ALLOWANCE Before taking retirement benefits from your pension, we are required to test the value of your pension against the lifetime allowance. We will not pay any benefits unless this section is completed and any documents required are received. Please tick the relevant boxes and give details as appropriate, including details of your Cofunds Pension Account and all other schemes. It is suggested that you complete this section in conjunction with your adviser. Please note that this section does not apply if you are 75 or older. I have not taken any benefits from any registered pension scheme please go to Section 6.4. I will be taking benefits from another scheme at the same time as my Cofunds Pension Account and enclose details of which scheme I am taking benefits from first. I also confirm I have sent the same information to the other scheme please go to Section 6.2. 6.2. BENEFITS TAKEN BEFORE 6 APRIL 2006 Have you taken any retirement benefits which commenced before 6 April 2006? Yes please continue. No please go to Section 6.3. If yes, have you put any other retirement benefits into payment after 5 April 2006? Yes please go to Section 6.2.(i) No please go to Section 6.2.(ii) 6.2.(i) If yes, please enter the date you first put retirement benefits into payment after 5 April 2006 6.2.(ii) For the following, please give the details at today s date (or the date provided in Section 6.2(i) if completed). Total maximum annual drawdown pension from your Cofunds Pension Account* Total maximum annual drawdown pension from other schemes* / / D D M M Y Y Y Y Total annual income from other pensions and annuities * If any drawdown pensions have been converted to flexible or flexi-access drawdown, please give the amounts at the date of conversion. Please also give details of these below: Date of conversion Income limit at conversion date Date of last income limit review before conversion Page 8 of 12

6 Flexi-access Drawdown Requirements (Continued) 6.3. BENEFITS TAKEN AFTER 5 APRIL 2006 Have you taken retirement benefits from any scheme that came into payment after 5 April 2006? Yes please continue. No please go to Section 6.4. Date you took retirement benefits Percentage of the lifetime allowance used when taking this benefit % % % Your scheme administrator or insurance company will have given you a statement showing the percentage figure needed. 6.4. PROTECTION STATUS (If applicable, please enclose a copy of the relevant certificate) I do not have a protection certificate from HMRC please go to Section 6.5. I have one of the following types of protection: Fixed protection 2012 - certificate enclosed Fixed protection 2014 - certificate enclosed Fixed protection 2016 HMRC reference number HMRC confirmation enclosed Individual protection 2014 - certificate enclosed Individual protection 2016 HMRC reference number HMRC confirmation enclosed I have primary protection and enclose a copy of the valid Certificate of primary protection from HMRC. If the certificate states an amount of tax-free lump sum, please complete the following: Date Amount of tax-free lump sum paid from benefits taken after 5 April 2006 I have enhanced protection and enclose a copy of the valid Certificate of enhanced protection from HMRC please go to Section 6.6. I have a lifetime allowance enhancement in respect of a pension credit or an overseas pension and enclose a copy of the valid certificate from HMRC. 6.5. LIFETIME ALLOWANCE CHARGE If the total value of your retirement benefits taken, both now and previously, exceeds your personal lifetime allowance, the excess will be subject to a lifetime allowance charge. If benefits are taken as a lump sum, then a 55% lifetime allowance charge is payable. If benefits are taken as drawdown income then a 25% lifetime allowance charge is payable and the income is taxed at your marginal rate. How will any lifetime allowance excess be taken: Not applicable As a lifetime allowance excess lump sum As drawdown income A combination of both, as follows: As lump sum As drawdown income 6.6. INCOME REQUIREMENTS Please tick below (one box only) to indicate how the client would like to take benefits from their pension drawdown fund. Full drawdown. Please note the client will not be able to make any further contribution or receive transfers into their pension Partial drawdown. Please note the client will be able to continue making contributions and receive transfers into their pension 6.7. IF OPTING FOR FULL DRAWDOWN The client would like to fully drawdown their Cofunds Pension Account and take their full entitlement to a tax-free lump sum, and the following taxable income: Initial gross annual income required Whole fund Nil Other If other, please specify amount Type of income payment Single Regular If regular, frequency of income Monthly Quarterly Half-yearly Yearly Date of first income payment (month/year) / M M Y Y Y Y Please note that lump sum payments are paid by BACS (or Faster Payments or CHAPS if requested, please see the Charges Sheet for t details of he charge) to the account detailed later in this section. Page 9 of 12

6 Flexi-access Drawdown Requirements (Continued) 6.8. IF OPTING FOR PARTIAL DRAWDOWN Value of fund to be taken Value of tax-free lump sum to be taken Non-drawdown segments are of equal value. A whole number of segments must be applied to unsecured income. The target values may therefore be subject to rounding up. Please indicate below (completing one income option only) how the client would like to partially drawdown their Cofunds Pension Account and take benefits from their drawdown fund. Initial gross annual income required Whole fund Nil Other If other, please specify amount Type of income payment Single Regular If regular, frequency of income Monthly Quarterly Half-yearly Yearly Date of first income payment (month/year) / M M Y Y Y Y Please note that lump sum payments are paid by BACS (or Faster Payments or CHAPS if requested, please see the Charges Sheet for details of the charge) to the account detailed later in this section. General We will continue to pay the same amount of taxable income in future years until the client informs us to the contrary. If the client requires further Pension Commencement Lump Sums or would like to amend their income, they will need to complete the relevant form. This form can be obtained from your adviser. For monthly payments, if there is insufficient time to set up the client s first payment they will receive a double payment on the next payment date. If the client would like to amend or cancel their income, we require receipt of the relevant form 15 business days prior to the payment date. Sell down options Please select from one of the following two options. 6.8.A. OPTIONS FOR MAKING REGULAR INCOME PAYMENTS Option 1 Largest value fund A sale of units from your largest value fund held within your Cofunds Pension Account. Option 2 Nominated fund You can nominate a fund from which units are to be sold. If, at the time of calculation, we cannot raise enough to meet payments from your nominated fund (or your nominated fund is not available for trading at that time), we will check to see if the required amount can be raised from your largest value fund. Percentage of Fund manager, fund name and share class SEDOL code income payment 100 % 6.8.B. OPTIONS FOR MAKING SINGLE INCOME PAYMENTS To make a single income payment from a Cofunds Pension Account you must ensure that you have enough money available within the Cofunds Pension Account before submitting this request. You may have to manually sell funds before submitting this request otherwise we may not be able to process your request. 6.9. PERSONAL BANK ACCOUNT TO RECEIVE THE LUMP SUM AND INCOME PAYMENTS Please indicate below which bank account the client requires benefits to be paid to from their drawdown fund. BACS, Faster Payments or CHAPS Transfer to your nominated bank account Bank or Building Society Branch Sort Code Bank/Building Society Account Number Building Society Roll Number Name(s) of account holder(s) Please select how the client would like their lump sum payment to be made: We are only able to make payments to a personal account in the client s own name, including joint accounts. In addition, payment may only be made to a UK bank account or to an account that can accept BACS, Faster Payments or CHAPS payments. Your client should speak to their bank if they have any questions as to whether their account is suitable. BACS (Please allow 3-5 working days) Income payments will always be paid by BACS. Faster Payments or CHAPS (Normally same day transfer. A charge is made for this option. Please see the Charges Sheet for details of the charge. Page 10 of 12

7 Expression of Wish You should complete this form to tell us who you wish to receive benefits from your plan if you die. If you wish to name more beneficiaries than the spaces allow for, please continue on a separate sheet and attach it to this form. Please refer to the Terms and Conditions for your plan details of the different ways death benefits may be received. 7.1. DECLARATION Please read the declaration before entering details of beneficiaries. On my death, I wish the scheme administrator to pay any benefits from my plan(s) to the beneficiaries, and in the proportion set out. I accept that this is only an expression of my wishes. I understand that whilst the scheme administrator will pay due consideration to those wishes, they have absolute discretion as to the beneficiary(es) and to the proportions of benefits paid to each beneficiary unless otherwise provided by law. I understand that if the scheme administrator chooses a beneficiary who has not been named in sections 7.2 or 7.3, drawdown income would normally only be available in limited circumstances. Therefore, in addition to the above named beneficiaries, in order to allow the administrator to pay drawdown income to as wide a range of beneficiaries as possible and for the purposes of the relevant tax legislation, I nominate any individual who is eligible to receive a lump sum on my death under the rules of the scheme. I understand that I can change the beneficiaries at any time and that the scheme administrator will refer to the last completed form held. 7.2. DETAILS OF BENEFICIARIES Percentages in this section should add up to 100% Beneficiary 1 Beneficiary 2 Who is the beneficiary? Individual Trust Charity Who is the beneficiary? Individual Trust Charity D D M M Y Y Y Y D D M M Y Y Y Y Percentage of fund payable to beneficiary % Percentage of fund payable to beneficiary % Beneficiary 3 Beneficiary 4 Who is the beneficiary? Individual Trust Charity Who is the beneficiary? Individual Trust Charity D D M M Y Y Y Y D D M M Y Y Y Y Percentage of fund payable to beneficiary % Percentage of fund payable to beneficiary % Page 11 of 12

7 Expression of Wish (Continued) 7.3. ALTERNATIVE BENEFICIARIES Please only completed this section if you wish to name alternative beneficiaries where all of the beneficiaries you name in Section 7.2 either: a. die before you; or b. do not wish to receive benefits from your plan (for example, for tax planning purposes). The percentages in this section should add up to 100%. Beneficiary 1 Beneficiary 2 Who is the beneficiary? Individual Trust Charity Who is the beneficiary? Individual Trust Charity D D M M Y Y Y Y D D M M Y Y Y Y Percentage of fund payable to beneficiary % Percentage of fund payable to beneficiary % Beneficiary 3 Beneficiary 4 Who is the beneficiary? Individual Trust Charity Who is the beneficiary? Individual Trust Charity D D M M Y Y Y Y D D M M Y Y Y Y Is this person financially dependent on you? (if applicable) Yes No Is this person financially dependent on you? (if applicable) Yes No Percentage of fund payable to beneficiary % Percentage of fund payable to beneficiary % 8 Checklist (For adviser use only) If the aggregate value of your client s pensions are close to or in excess of the Lifetime Allowance and they have a protection certificate from HMRC, please ensure a copy of this certificate is enclosed with this application. If not already provided, please ensure that your client s birth certificate has been verified using the Birth Certificate Verification Form. This must be provided before we can pay benefits to your client. If applicable, if not already provided, please ensure that your client s marriage/registered civil partnership certificate has been verified using the Marriage/Registered Civil Partnership Certificate Verification Form. This form is for your internal use only DO T send to Aegon or Suffolk Life. The Cofunds Pension Account is provided by Suffolk Life Pensions Limited (Suffolk Life) 153 Princes Street, Ipswich, Suffolk IP1 1QJ. Registered in England and Wales number 1180742. Suffolk Life is authorised and regulated by the Financial Conduct Authority (FCA). FCA registration number 116298. All assets held in the Cofunds Pension Account are legally owned by Suffolk Life Trustees Limited and are held on the Aegon Platform provided by Cofunds Limited (Cofunds). Registered address: Level 43, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB. Registered in England and Wales No. 3965289. Authorised and regulated by the Financial Conduct Authority (FCA) under FCA Registration No. 194734. PA41AUB 05/18 Page 12 of 12