To my current provider(s) and L&G
1. I apply to become a member of the L&G Retirement Pension Scheme (the 'Scheme').
2. I agree to be bound by the Rules of the Scheme and the terms and conditions of the Fixed Term Retirement Plan.
3. I confirm that I have been provided with copies of the Terms and Conditions and Key Features Document for the Fixed Term Retirement Plan.
4. I authorise L&G, my current provider and any financial adviser/intermediary named in this application to obtain from each other, and release to each other, any information that may be required to enable the transfer of sums and assets to L&G.
5. I accept that in order to comply with regulatory obligations, L&G and my current provider(s) named in this application may need to verify my identity and residential address and may use credit reference agency searches and ask for my documents to verify my identity and address.
6. I agree that my chosen quote and the information contained in this application, will be used to determine the benefits to be paid and if any of the information is found to be incorrect my benefits may be adjusted accordingly.
7. I authorise and instruct my current provider to transfer the sums and assets from the plan/ arrangement(s) I have detailed directly to the L&G Retirement Pension Scheme, and to provide any instruction and/ or discharge required by any relevant third party to do so.
Until this application is accepted and complete, L&G's responsibility is limited to the return of the total payment(s) to my current provider(s).
When payment is made to L&G as instructed, this means I shall no longer be entitled to receive pension benefits from the whole of the plan(s) listed in this application where the whole of the plan(s) is transferring, or that part of the plan(s) represented by the payment(s) if only part of the plan(s) is transferring.
8. I confirm that I have not received financial advice from L&G about purchasing my Fixed Term Retirement Plan.
9. If I’ve asked L&G to arrange payment of an adviser charge, details of this charge will be shown in my quote. By signing this form, I instruct L&G to:
- deduct that adviser charge in accordance with my quote; and
- pay it to my financial adviser’s firm as shown in the quote or shown in the ‘Financial Adviser / Intermediary’ section of the application form.
Once the Fixed Term Retirement Plan has been set up and the cancellation period has expired, I cannot change or cancel the adviser charge.
10. I confirm that any adviser charge paid on my behalf by L&G on the initial set-up of this plan:
- is wholly connected to the purchase of this Fixed Term Retirement Plan; and
- is appropriate to the advice and services my adviser provided me in relation to this Fixed Term Retirement Plan purchase.
If this is not the case, then some or all of the adviser charge and any tax-free cash sum may become liable to a tax charge, which I may be responsible for.
11. I confirm that I have provided only true and accurate information in applying for this transfer. I understand that L&G and my current provider cannot accept responsibility, and are not liable, for any losses resulting from untrue, incorrect or misleading information that I provide, or from any failure on my part to comply with any aspect of this application.
12. Where I have chosen to take tax-free cash, I have not made, and do not intend to make, either directly, indirectly or by someone making contributions on my behalf, a significant increase in my total contributions to any registered pension scheme.
A significant increase is where the total tax-free cash you receive in the 12-month period ending on the day the tax-free cash from this plan is paid exceeds £7,500, and more than 30% of the total tax-free cash is used to make contributions to one or more registered pension schemes which exceed the expected level of contributions. This includes any contributions you pay directly or indirectly, paid by someone on your behalf such as your employer, or which you may have paid in anticipation of receiving the tax-free cash.
13. I understand that the banking of the transfer payment by L&G does not constitute acceptance by L&G of the transfer payment. The transfer payment will only be accepted once L&G has received all the necessary information from the trustees or administrator of my previous scheme.
14. I have read guidance from the Financial Conduct Authority or the Pensions Regulator on the risks and warning signs of pension scams before making this application.
15. I understand that the first flexi-access payment I receive from my Fixed Term Retirement Plan will trigger the Money Purchase Annual Allowance (MPAA) if I’m not already subject to it.
16. If I have been contracted out under my current plan/arrangement(s), then I agree to L&G calculating the part of the transfer payment to be treated as relating to contracted-out benefits, if this information is not provided.
Cancellation rights
My client understands they have 30 days from the date they receive our confirmation their policy has started to change their mind. Please refer to the Key Features document for further information.
Marketing consent
Here at L&G we take privacy seriously; this is why we never share your client’s personal details with anyone else for their own marketing purposes. However, from time to time we would like to contact your client with news, useful information and exclusive offers on our products and services.
If your client would like to be kept up to date, please let us know how they would like to hear from us: