Section 32

If you've transferred an occupational pension from another scheme provider to Prudential then you may have a Section 32 pension with us. You may have done this through an adviser, or directly through Prudential.

We will have provided you with a Transfer Certificate, and you will 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:

Read about the features of your Section 32 pension

  • Flexible benefits provided in a money purchase plan.
  • Basic Annual Management Charges dependent on investment choice.
  • 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 benefits you receive will not be less than the guaranteed minimum pension (if applicable). Please read your plan literature for exceptions and charges.
  • *Tax-efficient - saving in a pension qualifies for tax relief. Read more about the tax benefits of saving in pension. Note that pensions in payment are taxed as earned income.

Review your Section 32 pension

You can send us a secure message online anytime to find our more about your plan or make changes to it

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.