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Legal & General Group SIPP

Application form for a share contribution for new and existing members

Before you begin

Please complete this application form if you wish to join the Legal & General WorkSave Pension Plan by contributing shares, which are from an employer maturing share plan.

You can also use this form if you are already a member of the Legal & General WorkSave Pension Plan and now wish to contribute shares which are from an employer maturing share plan.

Please ensure you have read the following documents before you decide to complete and submit your application, as they contain important information:

If you have any queries on any of the information provided, please contact Legal & General on 0345 026 0076. Call charges will vary. We may record and monitor calls.

You should obtain financial advice if you have any doubts as to whether the WorkSave Pension Plan or paying a share contribution is suitable for you. If you don’t have a financial adviser you can find one in your local area by visiting unbiased.co.uk. You should be aware that they may charge for their services.

If you choose to apply, please submit your application form by the date provided by your employer.

In addition to completing this application form, you'll also need to complete the share exercise form via EquatePlus, this information would have been provided to you by your employer. If you don’t complete the exercise form, this will delay your share contribution.

If you are a new joiner

Your right to cancel

After we’ve accepted your application to join the WorkSave Pension Plan with a share contribution, we’ll send you a notice of your right to cancel. By law we must send you this notice. You’ll then have 30 days to change your mind about starting the plan. 

If you do change your mind, all you need to do is send the notice back to us at the address shown on the cancellation notice and we’ll cancel your plan. We’ll sell your share allocation and return the value of your shares at the time we receive your cancellation minus any fees applicable. This means that you may not receive the value of your original net investment. 

If you don’t cancel within 30 days, your money must remain invested in this or another pension plan until you take your benefits. You can normally take your benefits at any time from age The NMPA is currently age 55 but this is increasing to age 57 from 2028. 

If you are an existing member

Your right to cancel

If you’re an existing member of the WorkSave Pension Plan and are now making a share contribution, you will be unable to cancel this contribution once the shares have been received and applied to your plan. 

Terms explained

Registered pension scheme – this means a scheme, which is registered under Chapter 2 of Part 4 of the Finance Act 2004.

Relevant UK earnings – this means employment income, or income arising from a trade, profession, vocation or patent (held in an individual’s name).

US person – A citizen or resident of the United States, a domestic partnership, a domestic corporation, any estate other than a foreign estate, any trust if: a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States persons have the authority to control all substantial decisions of the trust. 

Part 1 – About you

The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found on legalandgeneral.com/cifas

Are you a member of the WorkSave Pension Plan?
  • Please note that this can be found on your most recent Pension Benefits Statement

Permanent residential address, postcode, phone number and email address

Have you have moved within the last three months

Please state your previous residential address

Full name and address of your employer or firm

Part 2 – Investment instructions

The shares that you contribute to the WorkSave Pension Plan will be held in the Self Invested arrangement.

Note: basic rate tax relief based on the value of these shares will be paid into your Member’s SIPP bank account. Charges will be deducted from this account and you will need to instruct Legal & General where to invest the balance.

How much can I pay into my pension plan and still receive tax relief?

You can normally pay the equivalent of your annual salary into your company pension plan each year and still get tax relief. However, there is an Annual Allowance and if you go beyond this, you will incur a tax penalty. The Annual Allowance is currently £60,000. This allowance applies across all schemes you belong to, and includes all contributions paid by you or anyone else on your behalf – including your employer. For high earners: You’ll have a reduced (‘tapered’) annual allowance if both of the following apply:

  • your ‘threshold income’ is over £200,000 (your income excluding any pension contributions – unless they’re paid as a salary sacrifice by your employer)
  • your ‘adjusted income’ is over £260,000 (your income added to any pension contributions you or your employer make).

If these apply to you, your annual allowance will drop by £1 for every £2 your adjusted income goes over £260,000. This is limited however – the minimum tapered annual allowance you can have is £10,000. So, if your income is over £360,000, including pension contributions, your annual allowance will be £10,000.

Part 3 – Selected Retirement Age

3.1 At what age do you want to take your pension benefits?

Note: This will be your Selected Retirement Age. It can be any time from age The NMPA is currently age 55 but this is increasing to age 57 from 2028.

Part 4 – Death benefit

What happens if I die before my Selected Retirement Age?

The way benefits can be paid if you die before you access your pension will depend on a number of factors. The position is explained more fully in the Member’s booklet and Key Features document, which you receive when you join and also available on request.

You have the choice of setting up a trust, nominating a beneficiary or doing nothing. A trust can only apply to benefits paid as a lump sum.

You can make a nomination by completing the ‘Nomination of beneficiary’ form, which you receive as part of your welcome pack when you join. Legal & General has the discretion to pay any lump sum death benefit to either the person(s) nominated and/or your estate.

If you would like to place benefits in trust, please write to us and send a copy of the original trust documentation, which will be returned to you.

Part 5 – Declaration and member’s agreement

This agreement is between Legal & General (Portfolio Management Services) Limited, a company registered in England under Company Number 2457525, registered office at: One Coleman Street, London EC2R 5AA termed ‘Legal & General’ in this agreement, and me. This agreement sets out the terms of my membership of the WorkSave Pension Plan (the Scheme).

By submitting this application, I agree to comply with the terms and conditions of the Scheme and accept the Legal & General and Stocktrade fees and charges for investing in the self-invested arrangement. These are shown in the SIPP Fees and Charges Schedule. I understand that Legal & General will pass my personal information to Stocktrade in order to set up and administer my SIPP trading account.

I hereby agree to transfer (free of all encumbrances) the shares referred to at 2.1 above, in accordance with the ‘best execution’ rules of the Financial Conduct Authority and subject to market conditions. Where the transfer is in respect of shares coming from a HMRC unapproved share plan, I acknowledge that this will be processed in accordance with Legal & General’s best execution policy.

I hereby agree that I will not require:

  1. The withdrawal of any funds held in respect of me, or
  2. The payment to me of any income from those funds other than for the payment of benefits to or in respect of me in accordance with and at the time provided by the rules of the Scheme.

By submitting this application, I agree to comply with the terms and conditions of the Scheme.

The Scheme administrator agrees to administer the Scheme in accordance with the Scheme rules.

I confirm that:

  • In this tax year I am a resident in the UK or am a Crown servant or the husband, wife or registered civil partner of a Crown servant.
  • The total gross contributions which I pay to all Registered Pension Schemes in a tax year which I am entitled to tax relief (under Section 188 of the Finance Act 2004) will not exceed the higher of the basic amount (currently £3,600) and my Relevant UK earnings in that year.
  • The information I have given and declarations I have made in this application are, to the best of my knowledge and belief, correct and complete. I also agree this will form the basis of my application.
  • I agree to tell you in writing if an event occurs which results in my no longer being eligible for tax relief on my contributions by 5 April in the tax year in which the event occurs, or if later, within 30 days of the event.

If you are classed as a US person we are unable to accept your application. If you become a US person you need to inform Legal & General immediately and we may need to close your account to future accruals and/or make adjustments to your account to ensure we don’t breach the relevant rule(s).

If my employer or I are making contributions to my arrangements under the Scheme, some of the details in this application will be the basis on which tax relief is allowed. I understand that it is a serious offence to make false statements. The penalties are severe and HMRC could prosecute me. 

Until I notify Legal & General in writing to the contrary: I authorise Legal & General to provide my employer with details of my plan from time to time including details of the number of shares and any transactions in shares held in the WorkSave Pension Plan.

Important please read: Data Protection

Use of your personal information: Legal & General takes customer privacy very seriously. Legal & General uses the personal information collected via this form and any other personal information that I provide to Legal & General or is provided to Legal & General on my behalf (‘my information’) for the purposes of (amongst other things):

1. Providing me with Legal & General products and services and dealing with my enquiries and requests

2. Underwriting and administering my policy including processing claims

3. Carrying out market research, statistical analysis and customer profiling.

Legal & General will not sell my information to third parties for them to market to me. Legal & General’s privacy policy sets out moredetailed information on how they use my information (including: their processing activities, the lawful basis for their processing, how they transfer my information and/or other information prescribed by data protection law). A copy of Legal & General’s privacy policy is available at legalandgeneral.com/privacy-policy or otherwise upon request. Any changes to the privacy policy will be posted on this site from time to time. 

Disclosures:

Legal & General will disclose my information to other companies within the Legal & General group of companies, regulatory bodies, law enforcement agencies, future owners of Legal & General’s business, suppliers engaged by Legal & General to process data on its behalf and when necessary, to a reassurer.

If I make a claim, Legal & General will share my information (where necessary) with other insurance companies to prevent fraudulent claims. 

Legal & General will check my details with fraud prevention agencies. If false or inaccurate information is provided and fraud is identified details will be passed to fraud prevention agencies. Law enforcement agencies may access and use this information. Legal & General and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:

  • Checking details on applications for credit and credit-related or other facilities
  • Managing credit and credit-related accounts or facilities
  • Recovering debt
  • Checking details on proposals and claims for all types of insurance
  • Checking details of job applicants and employees.

Legal & General and other organisations may access and use from other countries the information recorded by fraud prevention agencies. I can contact Legal & General at Group Financial Crime, Legal & General, Brunel House, 2 Fitzalan Road, Cardiff CF24 0EB if I want to receive details of the relevant fraud prevention agencies. 

If I have been dealing with a financial adviser, Legal & General will give them information about the product and, where appropriate, provide them with other information about my dealings with Legal & General to enable them to give me informed advice.

Until I notify Legal & General in writing to the contrary, I authorise my employer to:

  1. appoint a professional adviser to act on my behalf in connection with my pension, and I authorise Legal & General to provide both my employer and their adviser with details of my plan from time to time. I realise that if I withdraw this authority then I may cease to participate in my employer’s group pension arrangement and may lose certain benefits associated with that arrangement, and
  2. notify Legal & General in writing of any changes in the amount of my contributions and I request and authorise Legal & General to act upon such information.

Access:

I have the right to ask for a copy of the information that Legal & General hold for me. To obtain a copy of my information, I can write to Legal & General at the address shown on our most recent customer correspondence. 

I agree to the use of information as set out above. I understand that I can ask Legal & General for a copy of my filled-in application form for up to 30 days after it has been set up on their records and that they will send me a letter confirming the details that have been captured from this form. I understand that I can ask Legal & General for a copy of the terms and conditions of this contract at any time. 

I agree to be bound by the terms of membership as set out in the declaration and member’s agreement. 

Online signature

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