Flexible Pension Scheme

A key feature of the Scheme is the ability to provide continuing income through the use of Scheme Pension (see below) for individuals, particularly those aged 75 and over, in addition to the usual attributes of our full SIPP. Scheme Pension can include an option to guarantee a minimum term certain pension of up to 10 years and thus allows the freedom to continue to invest assets up to and sometimes past the date of death.

Additional members can be included in the Scheme if appropriate.

What is Scheme Pension?

Scheme Pension is an income payable directly from the pension scheme without the need to purchase an annuity or go into Alternatively Secured Pension (ASP).

The Scheme Pension is calculated, at outset, by an actuary and is payable for life. The actuary may take account of individual factors including member's health and, on occasion, investment strategy of the Scheme. A guarantee period of up to 10 years may also be included.

Like an annuity, the Scheme Pension income can be paid after your death to beneficiaries for the remainder of any guarantee period, at the discretion of the Trustees.

In some cases, the income payable under Scheme Pension will be greater than income paid under ASP and the total payments to the member and their beneficiaries on their death can be higher than under ASP or an insured annuity.