Pension Investment Plan

What is the Pension Investment Plan?

The Pension Investment Plan (PIP) is a personal pension plan offering your clients the opportunity to consolidate existing uncrystallised pension plans.

Allowing them to align their investments with their current objectives and attitude to risk. PIP is available to UK residents aged 18 or over looking for a tax-efficient way to build a retirement fund.

  • Can be set up with a minimum initial investment of £5,000
  • Subsequent investments subject to a minimum of £500.
  • No set-up or withdrawal fees applied
    No minimum fund value
  • Approximately 150 investment funds from a wide choice of fund managers
  • The option to invest in up to 10 investment funds per investment with no charges for switching
  • Access to the Canada Life Portfolio Funds
  • The option, from age 55, to take regular or ad-hoc withdrawals using the uncrystallised fund pension lump sums (UFPLS) feature
  • Initial, on-going and ad hoc adviser fees can be facilitated
  • In the event of your client’s death, benefits can be paid out either as a lump sum or used to set up a beneficiary drawdown.  

The value of your savings can go down as well as up. You may not get back the full amount you invested.

The Pension Investment Plan may be suitable if your client:

  • Has at least £5,000 to invest towards their retirement
  • Wants to consolidate their pension savings from other schemes into one policy
  • Can withstand fluctuations in the value of their plan and has other short-term funds to rely on, outside of this policy
  • Wants to have the opportunity to use this money to provide a lump sum for their dependents in the event of their death

The Pension Investment Plan will not be appropriate if your client:

  • Has less than £5,000 to invest
  • Cannot leave the money invested until their 55th birthday at the earliest
  • Are not sure what level of risk exposure you can live with
  • You do not plan to regularly review your investment choices.

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This website is for UK professional advisers only and is not approved for use by private customers.

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.

Stonehaven UK Limited and MGM Advantage Life Limited, trading as Canada Life, are subsidiaries of The Canada Life Group (U.K.) Limited. Stonehaven UK Ltd is authorised and regulated by the Financial Conduct Authority. MGM Advantage Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.