Personal Pension Plan
For most people, State pension benefits are insufficient to provide an
acceptable standard of living in retirement.
Windsor Life’s Personal Pension Plan is designed to enable our existing
policyholders to invest in order to provide benefits in retirement.
If you are self-employed, employed, or an employer, you can make either
one-off lump-sum or regular pension contributions.
In order to encourage people to invest in their own pensions, the Government
offers significant tax incentives to personal pension schemes (see
below). It is important to start contributing to your pension early
to give your money as long as possible to grow.
Windsor Life's Personal Pension Plan has the following features:
- You can choose from a range of 14 investment funds, with investment
expertise provided by top performing investment manager Aberdeen
Asset Management.
- Administration charges are from around only 1% per annum, depending on your
choice of investment funds.
- You pay no up-front charges.
- You pay no hidden charges if you stop or reduce premiums
later on.
- You pay no penalties on transferring your pension to another company
(although you may pay up-front charges on the new pension with
the new company).
The Personal Pension Plan is suitable for topping-up the pension provided
by any other existing pension policy that you may have with Windsor
Life.
 Download
Key Features Document (136Kb)
Download Policy Provisions (128Kb)
To request an individual illustration:
- Click here if you would like to pay Regular premiums
- Click here if you would like to pay a Single Premium
What about stakeholder pensions?
Tax incentives
- You benefit from income tax relief on your contributions at your highest
rate (up to 40%).
- Once invested, the fund grows free of tax on income and capital gains,
except for Advance Corporation Tax credits against UK dividends,
which cannot be reclaimed.
- At retirement, you can take up to 25% of the fund as a tax-free lump
sum to use however you wish. The remainder can be used to buy a pension
of your choice from Windsor Life or any other provider.
Investments may do better in some years than others. You should remember that such
investments may go down as well as up. Past performance is not a guide
to future performance.
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