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's sometimes also referred to as a Bulk Section 32 scheme.
We'll 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.
What you may be looking to do:
- Change the funds your plan's invested in.
- Move your money to a different plan.
- Take the money you've saved from your plan.
If you’re considering any of these, please look at the links at the bottom of this page.
The value of your investment can go down as well as up so you might get back less than you put in.
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 and Fund Guide.
- 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. Please be aware the value of your investment can go down as well as up and you may not get back what you put in.
- 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 the value of 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.
- Tax benefits - Your plan has tax benefits associated with saving in a pension scheme. You can also take tax-free cash lump sum on retirement. Please be aware any payments taken from your pension will be taxed as earned income.
Tax rules can change and the impact of taxation (and any tax relief) depends on your circumstances.
For more detailed information about the Company Pension Transfer Plan please read the Fund Guide.
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). We might record your call for training and quality purposes. To find out more about how we use your personal data please see our Data Privacy Notice.
If you’re thinking of making any changes to your plan we think it’s important that you speak to a financial adviser. An adviser can help you understand if making changes to your plan is right for you and fits with your aims and circumstances, which might have changed since you first took your plan out.