Personal Pension
Here are some of the features of our Personal Pension plan.
- Payments start from £200 a month
- There’s a choice of over 240 funds for clients to invest in
- Our range of income options means clients have the flexibility to choose either full or semi-retirement
- Clients have the freedom to switch into one of our other pension products – under Aviva’s one set of rules
- Our online Pension tracker makes it easy for your clients to see how their pension is progressing and what their potential future retirement income might be
- For further information please see the key features document
Here are some of the facts you need to know about our Personal Pension plan.
| Criteria | Min/max | Details | Notes |
|---|---|---|---|
| Age Limits | Min age | 0 | Can be taken out from birth. |
| Max age | 74 | ||
| Term | Min term | Regular payments – 5yrs Single payments or transfers – 1yr | Limited commission options will be available |
| Payment Limits | Min regular payment to start plan | £200 a month | These amounts are inclusive of tax relief. |
| Min single payment to start plan | £10,000 | ||
| Min increase in regular payments | £20 a month | Clients can increase their payments at any time. | |
| Min increase in single payments | £1,000 | ||
| Min automatic annual increase | 3% | Automatic Increases will be at the National Average Earnings Index subject to a minimum of 3% and a maximum of 15% | |
| Max automatic annual increase | 15% |
Here are the commission and charges for our Personal Pension plan.
Charges
| Type of charge | Detail | Notes |
|---|---|---|---|
| Charges | Base Annual Fund Charge (BAFC) | 0.55% min (Nil Commission) 1.00% max | This is taken on a monthly basis, the percentages shown are the annual totals. |
| Large Fund Discount (LFD) | 0.1% max | The amount rebated depends on the fund’s value. | |
| Fund Based Commission (FBC) | 0% - 2% | The cost of FBC is added to the BAFC. | |
| Additional Yearly Charge (AYC) | % | Some funds have an AYC - the amount can vary by fund. | |
| Fund Manager Expense Charge (FMEC) | % | Some funds have an FMEC - and the amount can vary by fund |
Commisson
| Payment Type | Commission Type | Description | Charge |
|---|---|---|---|
| Regular | Initial (LAUTRO) | Nine steps ranging from 2.88% + uplift up to 24% + uplift | From 0.60% up to 1.00% depending on commission option selected |
| Regular | Nil | Nil Commission | 0.55% BAFC |
| Regular | Initial + % FBC | Nine steps ranging from 2.88% + uplift + % FBC up to 24% + uplift + % FBC | From 0.60% + % FBC up to 1.00% + % FBC depending on commission option selected |
| Regular | FBC | 20 steps ranging from 0.1% up to 2.00% | From 0.65% up to 2.55% depending on amount of FBC selected |
| Regular | Level | Nine steps ranging from 0.24% up to 2% | From 0.60% up to 1.00% depending on commission option selected |
| Single | Percentage Payment | Nine steps ranging from 0.48% + uplift up to 4% + uplift | From 0.60% up to 1.00% depending on commission option selected |
| Single | Nil | Nil Commission | 0.55% BAFC |
| Single | Percentage Payment + %FBC | Nine steps ranging from 0.48% + uplift + % FBC up to 4% + uplift + % FBC | From 0.60% + % FBC up to 1.00% + % FBC depending on commission option selected |
| Single | FBC | 20 steps ranging from 0.1% up to 2.00% | From 0.65% up to 2.55% depending on amount of FBC selected |
Here is some information to help you to decide if our Personal Pension plan is right for your client.
| Designed for clients who | Not designed for clients who |
|---|---|
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| Key considerations | Possible alternatives |
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Here are some examples of the support we offer you and your clients on our Personal Pension plan.
Secure services
You can get a quote and apply online for Personal Pension, track submitted business and make plan enquiries through our Secure Services.
Pension tracker
Our online Pension tracker is a great way for your clients to monitor the progress of their pension. They can access detailed plan information and a range of easy-to-use tools to help them see what their pension could be worth at retirement.
Budget planner and Pension calculator
Our Budget planner and Pension calculator can help you work out with your clients how much they can afford to pay into their plan.
Contact us
We have a wide range of support staff available to help you, click here to find the right number that meets your needs.
WA04052 06/2009
