Bulk Section 32

Our Bulk Section 32 company transfer plan will help to relieve Trustees of their pension promise to members, alleviate the pressure of managing their investments and pass on the administration burden of the scheme.

The Section 32 is used to accept transfers from:

• Contracted-in and contracted-out salary relates schemes (CISR/COSR)
• Contracted-in money purchase schemes (CIMP)
• Contracted-out money purchase schemes (COMP)
• Contracted-out mixed benefits schemes (COMB)
• (The contracted-out element of a scheme cannot normally be transferred without members' permission - unless certain requirements are met)  

 What are some of the key product features?

• 100% Allocation Rate
• Single priced, i.e. Annual Management Charge only (no bid/offer spread and no member/policy fee)
• Basic Annual Management Charges dependent on investment choice
• Full range of investment funds and no switch fee
• Standard and Bespoke lifestyling options
• No exit penalties (However, a Market Value Reduction may apply on With-Profits)
• Flexible Guaranteed Minimum Pensions Test at the outset of the policy

You can benefit from:

• Financial strength: Standard & Poor's, a company that evaluates the financial strength of insurance companies, has rated Prudential Assurance Company Limited AA as at August 2010
• Outstanding service and support: Prudential's dedicated service teams provide total support from set-up to ongoing member and trustee support
• Hassle free administration: We let you do, what you do best: focus on your business, with easy and efficient administration of your scheme
• Investment choice: Prudential makes accessible a wide selection of funds, managed by some of the UK's best fund managers using differing investment styles 
• Effective communications: Prudential works with you to create comprehensive communication and educational programs through a partnership agreement dedicated to your scheme's individual requirements

The value of an investment may go down as well as up and a member's fund value in future may be less than the payments they have made.

For further information about how we can work with you, please email corporatesolutions@prudential.co.uk