Cash-Out Retirement Plan
Important things to consider
- You can't make any changes to the plan once it's started.
- If your circumstances change during the term of the plan, you will be able to cash it in or transfer to another scheme.
- You'll receive the same income each year with this product. This could mean what your income buys might not be as much in future years as it is now.
- Plan payments are considered as income, and subject to income tax. This could affect any benefits you claim.
- The tax you pay on the income from the plan will depend on your individual circumstances and can change. This may affect the income you receive from us.
- At the end of your plan income will stop.
- You may be able to get a higher amount of income through a product that assesses your health and offers higher returns for certain lifestyle or medical conditions.