Pensions

Why choose a Skandia pension?

You want to look forward to your future with confidence, secure in the knowledge that you can afford to maintain your chosen lifestyle. With numerous tax advantages, pensions remain one of the most popular ways to save to achieve your objectives.

Skandia Life Assurance Company has a range of pension products designed to meet the planning needs of individuals, employers and trustees alike. Their flexibility means they can be easily adapted to changes in your personal circumstances.

Our pensions are unit-linked, which means your contributions buy units in our range of funds. Each fund will have its own investment strategy and will be managed by professional fund managers. The units are linked to the value of assets such as stocks and shares traded on the world stock market, so the value of your plan can go down as well as up as it will depend on the performance of the assets your selected funds invest in. Our MultiManager approach enables you to select funds from a range of top fund management companies. Fund selection is divided into two simple categories:

• Self Select – where we give you access to a range of managers from which you and your adviser choose and build a tailored portfolio, with the ability to switch managers and funds to keep your portfolio up to date.

• Skandia Investment Management – where our sister company Skandia Investment Management Limited selects and monitors fund managers for you, blending those managers within individual funds, and then constantly monitors and replaces them when necessary to maintain the optimal fund choice.

These categories allow you to match your investment to the level of personal control you want in your funds. With the help of your financial adviser this will enable you to choose funds appropriate to your goals.

There are some useful tools available that can help you plan for the future. If you would like an indication of the likely pension benefits you could build up we have provided you with a link to the ABI’s Pension calculator.

Skandia’s pension products are only available through your financial adviser, who will help you decide which is right for your circumstances. Below is a summary of pension products available through Skandia Life Assurance Company Limited. Alternatively you can choose to invest in a Collective Retirement Account provided by Selestia Life and Pensions Limited, through our new investment supermarket; Selestia Investment Solutions. More detailed information can be obtained from your financial adviser.

Skandia Life Assurance Company Pensions:

Personal Pensions

• Personal Pension – a plan for individuals wanting to build up a sum of money in a tax-efficient way to provide pension benefits.

• Personal Pension Income Plan – a plan allowing transfers from other pension plans to provide immediate access to a tax-free cash sum and income withdrawal payments.

• Self Invested Personal Pension (SIPP) provided through our partner Sippdeal Trustees Limited – a personal pension plan for individuals, with access to a wider investment choice.

Company Pensions

• Group Personal Pension – an employer-based scheme comprising individual Personal Pensions for employees.

• Executive Pension – an occupational pension scheme open to employers for the benefit of directors, executives and employees.

• Group Executive Pension – an occupational pension scheme for employers to set up for directors, executives and employees. It is normally on a larger scale than the Executive Pension.
  

Trustee Solutions

• Pension Trustee Bond – a plan giving Trustees of registered pension schemes access to Skandia’s pension fund range through payment of lump sum contributions.

• Buyout Bond – a plan for individuals or Trustees allowing transfers from occupational pension schemes or other buyout bonds before benefits are drawn.

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Information on this website is not intended for Hong Kong residents. Information on this website about Skandia Group Companies is intended for UK residents only, unless it relates to Royal Skandia, Skandia Life Norge or Suomen Sivuliike. Skandia Group companies do not offer investment advice and no information on this website should be construed as such.

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