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Personal Pension Plan

The personal pension plan allows our customers to save to meet their retirement income needs.

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.

Adobe Acrobat Download Key Features Document (47Kb)
Adobe Acrobat Download Policy Provisions (32Kb)

If you would like an individual illustration, please call us on 0800 073 1777, or email us by clicking here.

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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