Flexible Retirement Plan (with SIPP options)

Your Flexible Retirement Plan is designed to help you save towards your retirement in a tax-efficient* way.

It offers a range of retirement and investment planning solutions for your changing needs, including a SIPP (self-invested personal pension) option for more control over your investments.

Read more about the features of your Flexible Retirement Plan

  • Make flexible payments - regular or one-off payments or a combination of both. Invest as little as £100 each month or a £5,000 initial contribution. Note that any changes to your contributions will impact on your benefits at retirement.
  • Possible range of funds  - your pension contributions may be invested in a choice of funds. The funds you can choose from may vary depending on what funds are actually available at the time. Note that the value of your fund may fluctuate and you may not get back your original investment.
  • Tax relief* - for every £80 you invest in your pension, the government will pay an extra £20. If you earn above the basic rate of tax, you can claim additional tax relief through your tax self-assessment form. Read more about the tax benefits of saving in a pension. Note that pensions in payment are taxed as earned income.
  • SIPP options - if you invest in our SIPP options (self-invested personal pension) you have an even greater choice of investments through our SIPP fund range. You can choose from over 1,500 funds through the Cofunds supermarket with our lower cost FundSIPP (up to 20 funds) or the full range of investments through the Full SIPP. The SIPP option can be switched on or off at any time so you pay only for what you use. Bear in mind that the value of your investment may go down as well as up and you may not get back your original investment.
  • Flexi-access drawdown option - this allows you to draw an income direct from your pension fund until you are ready to buy your pension annuity. Read more about the Income Drawdown option.

Please note that the value of your investment can go down as well as up and you may not get back the amount you put in.

Review your Flexible Retirement Plan

PruFund range of funds

Our dedicated page on the PruFund range of funds gives you information including how our smoothing process works, access to both historic and current Expected Growth Rates (EGRs) and details of any historic Unit Price Adjustments (UPA).

To request a valuation:

Send us a secure message online anytime

To stop or start payments or make any changes to your plan:

Please speak to your financial adviser

To update your name or address details:

Call us on 0345 640 3000 (Monday to Friday 8am to 6pm), calls may be recorded for security or quality purposes.

Send us a secure message online anytime

Write to us at Customer Service Centre, Prudential, Lancing, BN15 8GB

To read more about FRP:

FRP/SIPP Key Features

PruFund Range of Funds: Guarantee Options

Full Fund Guide

FRP Personal Pension Technical Guide (with "Adviser Charges")

FRP Income Drawdown Technical Guide (with "Adviser Charges")

FRP Personal Pension Technical Guide (pre-"Adviser Charges")

FRP Personal Pension Technical Guide Addendum (pre-"Adviser Charges")

FRP Client Brochure - A guide to your Flexible Retirement Plan

FRP Addendum to Tech Guide (PruFund T&CS for pre 13/6/11 members)

*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).