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Trustee Investment Plan

Jeremy 

  • Aged 60
  • Invested in a self-invested  (drawdown) personal pension (SIPP) with a respected SIPP provider 
  • Wanting access to Canada Life’s portfolio and property funds. These funds are unavailable to SIPP investors other than through the Can Retire Trustee Investment Plan (TIP).
  • Keen to have flexible regular withdrawal options so he can pay this into his SIPP and then make drawdown withdrawals.

A retirement solution

Jeremy’s objectives are to gain access to particular funds managed by Canada Life Investments. These funds are the Portfolio 5 funds because they are designed for medium to high risk investors and more importantly rebalanced on a daily basis to align with his risk profile as long as he is invested. Jeremy feels that these funds will perform in line with his expectations and keep within his risk profile. He also likes the Canada Life property fund as he feels this is a traditional bricks and mortar fund with good performance track record.

Jeremy is using the drawdown facility within the SIPP so it’s also important he has flexible withdrawal options within the TIP. Having the ability to take up to 10% of his original investment as regular withdrawals or surrenders without incurring any penalties gives Jeremy peace of mind that should he need to boost his income at any time he can get the extra amount from his CanRetire TIP.

Key benefits

  • Ability to pay regular premiums
  • Access to all Canada Life funds
  • Flexible regular withdrawals up to 10% of investment amount
  • No penalties for surrenders or partial surrenders
  • Initial minimum single investment of £15,000

Options

  • To provide investment growth for his SIPP
  • To provide funds for income or cash lump sums

On death the Canada Life funds are valued as part of  a SIPP or Occupational pension Scheme, for example a Small Self- Administered  Scheme. This means that should Jeremy die before reaching the age of 75 his TIP funds will be available for his beneficiaries, tax free. Should he die aged 75 or later, the funds will still be available for his beneficiaries but taxed at their marginal rate.

Important information

Adviser charges cannot be facilitated with this product.
The value of your TIP can go down as well as up and you may get back less than you invested. The amount you get back will depend on the performance of the funds you choose, how long you invest for, our charges and any withdrawals you make from the Plan.
If the Plan is cancelled within 30 days, you may get back less than you paid in.

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.