Company Pension Transfer Plan (Bulk Section 32)
If trustees of your occupational pension scheme transferred your pension to Prudential then you may have a pension with us known as a Company Pension Transfer Plan. It is sometimes also referred to as a Bulk Section 32 scheme.
We will have provided you with a Transfer Certificate confirming your plan, and you should also be receiving annual statements. Your policy number will be on this statement, please use it in any correspondence with us.
Read about the features of your Company Pension Transfer Plan
- Basic Annual Management Charges dependent on investment choice. More information is available in your plan literature.
- Range of funds - the amount you transfer can be invested in a choice of funds. The funds actually available to you may depend on the particular scheme you join. Note that the value of your fund may fluctuate and you may not get back your original investment.
- No exit penalties - however, a Market Value Reduction may apply for investments in the With-Profits Fund, and this would have the effect of reducing your fund.
- Guaranteed Minimum Pension - the benefit you receive will not be less than your Guaranteed Minimum Pension if applicable. Please read your plan literature for exceptions and charges.
- Your plan has tax benefits associated with saving in a pension scheme. You can also take tax-free cash lump sum on retirement. Note that pensions in payment are taxed as earned income.
For more detailed information about the Company Pension Transfer Plan please read your key features document.
Review your Company Pension Transfer Plan (Bulk Section 32)
To find out more about your plan or make any changes to it:
You can send us a secure message online anytime
Or call us on 0808 234 3030 (Monday to Friday 8.30am to 6pm)
For more general information, see our pension products
*The above is based on our understanding, of current taxation, legislation and HM Revenue & Customs practice, all of which are liable to change without notice. The impact of taxation (and any tax relief) depends on individual circumstances.