Give your pension a head start
The Personal Pension offers you the benefits of a transparent flexible personal pension product.
Your pension plan needs to adapt to your changing circumstances up to and during your retirement.
The Personal Pension allows you to save for your retirement in a tax efficient way, and offers you the benefits of a transparent flexible personal pension product with wide investment choice, payment flexibility and control over how and when you take your benefits at retirement, subject to HM Revenue & Customs (HMRC) rules.
The size of your pension fund and the benefits it provides in retirement will partly depend on the investments you choose. When deciding where to invest you should bear in mind that the value of funds can go down as well as up and you may not get back the full amount invested.
Contribution flexibility
We do not impose a minimum contribution limit so you can choose how much to invest, subject to your contributions being tax relievable.
You, your employer or a third party can make single or regular contributions to your pension plan and stop, increase, or decrease payments without penalty.
Investment flexibility
You can access the Tailored Selection, a carefully selected range of externally managed funds, and the Elite Fund of Funds Range managed by Winterthur's Investment Manager.
With free switching between Winterthur funds, adapting your portfolio to meet your changing investment needs is simple.
Protected rights
If you choose to contract-out of the State Second Pension (S2P) you will have a fund consisting of protected rights. The Personal Pension allows you to invest your protected rights alongside your single or regular contributions.
This means you and your Financial Adviser can devise one investment strategy for your protected rights and non-protected rights.
We suggest that you speak to your Financial Adviser before making any decision to contract out.
Retirement flexibility
Winterthur has a range of options providing you with flexibility over how and when you take your benefits. You don't need to decide how you wish to take your benefits until you are ready to take them.
You cannot access your benefits until age 50 (age 55 if benefits haven't been taken by 6 April 2010).
Transparency
A clear and transparent charging structure with no penalties if you choose to vary contributions, retire early or transfer to another provider, although you may incur charges from the receiving scheme if you transfer.
For more information contact your Financial Adviser or find a Financial Adviser in your area.
