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.
The Flexible Retirement Plan closed to new customers on 17 September 2018 but if you're an existing customer you're still able to make changes to your plan.
What you might be looking to do:
- Change the funds your plan's invested in.
- Stop paying money into your plan.
- Move your money to a different plan.
- Take the money you've saved in your plan.
If you’re considering any of these, please look at the links at the bottom of this page.
Read more about the features of your Flexible Retirement Plan
- Possible range of funds - your pension contributions might be invested in a choice of funds. The funds you can choose from might vary depending on what funds are actually available at the time. Please note, the value of your investment can go down as well as up so you might get back less than you put in.
- 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. Please note, the value of your investment can go down as well as up so you might get back less than you put in.
- 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 a large number of funds available 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. Please note, the value of your investment can go down as well as up so you might get back less than you put in.
- Flexible income or cash (also know as drawdown) - 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, the value of your investment can go down as well as up so you might get back less than you put in.
Review your Flexible Retirement Plan
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).
Please speak to your financial adviser
If your personal details have changed you can update this yourself by accessing MyPru. If you've not yet registered for MyPru registration only takes a few minutes, remember to have your policy number to hand - register for MyPru.
If you're looking to change your marital status you'll need to write to us with the following:
- Your policy number, your previous name, your new name and your new signature.
- Your original Marriage Certificate, Deed Poll or Decree Absolute (this will be returned to you straight away).
Customer Service Centre,
- PruFund Range of Funds: Guarantee Options
- Flexible Retirement Plan (Personal Pension and Income Drawdown with SIPP Options) & Flexible Investment Plan - long fund guide
- FRP Personal Pension Technical Guide (with "Adviser Charges")
- FRP Income Drawdown Technical Guide (with "Adviser Charges")
- FRP Personal Pension Technical Guide Addendum (pre-"Adviser Charges")
- 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).
What would you like to do?
By accessing MyPru, our secure online portal, you may be able to manage your product enquiry yourself or alternatively send us a secure email to deal with your product query.
Within MyPru you can check the value of your policy, change personal details, view key documents online and send us secure messages.
If you have not yet registered for MyPru registration only takes a few minutes - register for MyPru.
Monday to Friday, 8am-6pm
Calls may be recorded for security and quality purposes.