Trustee Investment Plan

A Trustee Investment Plan is a pension policy which allows pension scheme trustees to invest in a wide range of funds with a straightforward and competitive charging structure. Our plan allows both single and regular premium investments, and flexible withdrawals up to 10% of the original investment. Plus, trustees can surrender all or part of the plan without charge.

The main purpose of investing in a plan is to build up a pension pot, which a scheme member can access when they retire.

Our plan is designed for trustees* looking to invest a sum of money on a medium to long term basis. It provides the opportunity to link the performance of the plan to assets such as stocks and shares, property, government bonds, corporate bonds or cash.

You can find details of the plan, such as the payment(s) and estimated value in your personal example quote.

*Trustees can invest into the plan at any time if they’re the trustees of a:

• Self-Invested Personal Pension (SIPP)
• Small Self-Administered Scheme (SSAS)
• Final Salary Occupational Pension Scheme

The value of your plan can go down as well as up and your client may get back less than they invested. The amount they will get back will depend on the performance of the funds chosen, how long they invest for, charges and any withdrawals taken.

At Canada Life, we cannot give personal recommendations about our products. You’ll need to speak with an adviser to see if this product is right for you. If you do not have an adviser, you can find one local to you at Unbiased.

• You’ll need to tell us how much you wish to pay into your plan before we set it up (minimum £15,000)
• The minimum for additional single premium payments into an existing plan is £15,000
• You can pay regular premiums into the plan at the beginning or at a later point, subject to the minimums below:

You’ll need to make for your initial regular payment by cheque. After that, we’ll take your future payments by direct debits.

You can start, stop or vary the amount and frequency of the regular payments at any time. The minimum reduction or increase is £250.

We’ll give you a personal example showing what you might get back at various future anniversaries of your plan.

A Trustee Investment Plan is designed for medium to long-term investment over a minimum of five years. You shouldn’t invest money in a plan if you feel you might need the money to pay for scheme administration, other fees or other financial commitments.

The value of your plan can go down as well as up and your client may get back less than they invested. The amount they will get back will depend on the performance of the funds chosen, how long they invest for, charges and any withdrawals taken.

You can make regular withdrawals from the plan every month, three months, six months or every year. You can set this up at the start of the plan or add, amend or stop them at any time.

The maximum is 10% of the total investment amount each year, subject to a £250 minimum.

You can take regular withdrawals either:

• As a percentage across all of the funds you invest in
• As a percentage/monetary amount across specific funds, up to a maximum of five

The minimum amount you can take as a partial surrender is £250, but there is no maximum.

You can take a partial surrender either spread across all the funds you invest in, or targeted at up to five specific funds as a percentage or monetary amount.

You can fully surrender the plan at any time.

Our Trustee Investment Plan gives you access to a comprehensive range of professionally managed investment funds. You can create a portfolio of funds for us or another major investment group in the UK to manage, or a combination of both.

With this range, you’ll get a choice of all fund types, such as:

• Funds that invest in just one of the main asset classes of cash, fixed interest, property and equities, through to funds holding a mixture of some or all of them
• Specialist funds, fund of funds and multi-manager funds
• Funds investing in markets from a single geographic country or region
• Funds spanning markets across the globe providing a degree of protection from the potential downside associated with investment markets

Throughout your investment period, we can split your payments into the Trustee Investment Plan across 10 different funds. We won’t charge you if you want to switch funds.

Initial charge

There’s an initial one-off charge of £250 for investments under £50,000.

Investment allocation

We will always allocate 100% of the investment.

Annual Management Charge (AMC)

 The Trustee Investment Plan has an AMC of 1% each year that is reflected in the unit price. The effect of the AMC is reduced by a rebate, credited each month (on the monthly anniversary).

The rebate is:

Investment Management Charge (IMC)

This is an annual charge set up by the fund manager. It covers the cost of managing the fund.

Adviser charges

We can’t add/deduct adviser charges from the Trustee Investment Plan.