Don't let a scammer ruin your retirement

Pension scams are on the rise, and if you’re caught out by a scammer your pension could be lost in moments. Scammers can look and sound credible no matter how savvy you are, so be aware of the warning signs. Scam tactics often include:

• Contact out of the blue 

• Promises of high or guaranteed returns

• Free pension reviews 

• Early access to your pension, and 

• Pressure to act quickly.  

To find out more about how pension scams work, how to avoid them, and what to do if you suspect a scam, please read the FCA pension scams leaflet, and visit https://www.fca.org.uk/scamsmart.

Our Retirement and Investment policies continue to provide Income and Capital guarantees

Our Income and Capital guarantees provided through our Retirement, ISA, and Onshore and Offshore policies, continue to provide our policyholders with flexibility and certainty.

Secure Income Option

The Secure Income Option provides a guaranteed level of income for life, even if the underlying fund value runs out of money, along with a guaranteed death benefit. The guaranteed level of income also has the potential to increase, through:

• lock-ins of positive investment performance above the existing guarantee level 

• guaranteed Income Deferral Increases, where customers choose to delay taking their income.

Secure Capital Option

The Secure Capital Option provides a guaranteed capital amount at the end of the selected term, or when a death claim is paid. Keeping the investment in this option will protect you from stock market falls, as well as providing the potential to increase the guaranteed amount payable through lock-ins of positive investment performance above the existing guarantee level.

Guarantee suitability

You will pay an additional guarantee charge for the Secure Income and Secure Capital Option, and it’s important that you regularly review your policy with your Financial Adviser to ensure the guaranteed benefits continue to be suitable for you as your circumstances change.

Examples of where the Secure Income Option may no longer be suitable for you, may include:

• you no longer have a need for a guaranteed level of income; or 

• you are taking regular withdrawals above the level of guaranteed income, i.e. you are paying for a guarantee that you are not using.  

Non-guaranteed funds

Although we are no longer able to accept new investments, we continue to offer a range of non-guaranteed portfolios for existing policyholders. You can switch to these when your Secure Capital Value matures for example. Please see our Fund List for more information.

Forms

For more information and forms relating to our retirement and investment solutions, visit the Document Library.

* Please note that Payments Out, for example ongoing adviser charges or non-guaranteed withdrawals, may proportionately reduce the value of the guaranteed benefits provided by the Secure Income Option and the Secure Capital Option.