Managed Pension Account
The Managed Pension Account is a regular premium investment solution designed for regular savings over the medium to long term to help finance your retirement.
Through the Managed Pension Account, an extensive range of managed, sector and specialist fund links are available - so as your investment objectives change, so can your choice of funds, simply and quickly.
5% extra allocation
There is an extra 5% allocation (105%) with each payment in the first Account year - that means that for every £100 paid Royal Skandia will invest £105 for you. All other regular and single payments are invested at 100%. However, if you increase the amount of your monthly payment Royal Skandia will ensure that every payment increase will receive an extra 5% as well.
Bonus of up to 4%
At maturity, Royal Skandia will boost your investment further by adding a bonus of up to 4% (please refer to the Account Terms for further information). The best possible helping hand to exceed your investment objectives.
Benefits
Regular premium savings with flexibility to pay additional lump sum premiums at any time.
105% allocation for regular premiums in year one and 100% thereafter.
105% allocation of any premium increase (in excess of previous highest premium amount) for one year.
Loyalty bonus of up to 4% of policy value at maturity.
Automatic Premium Escalation Option to increase premiums by 5% or 10% each year to maintain the purchasing power of the policy. Applies to credit card payments only.
Choice of premium payment methods.
Death benefit of 101% of allocated units at the selling price at no extra cost.
Changing your choice of funds is currently free of administrative charge. This way, you are not 'locked' into the fortunes of a fund or fund management group that may no longer be suitable. A dealing turn may apply on switches (please refer to the product brochure).
An early encashment charge may be levied on any full or partial withdrawals that you make and for regular premium policies no encashments can be made for the initial period between 5 and 24 months.
Tax-efficient growth
Whichever investment funds you select, growth can be achieved tax-efficiently. As Royal Skandia is based on the Isle of Man, it is not currently liable to any form of tax in respect of the income and gains on policyholder funds. This means that, with the exception of certain investment income that may be subject to a tax deduction in its country of origin, the Managed Pension Account will grow tax-free. Policyholders may be liable to taxation on any gains made on the Account.
Policyholder protection and peace of mind
Of all the major offshore centres, only the Isle of Man has a statutory compensation scheme for life assurance companies. This means that Royal Skandia investors benefit from unrivalled protection.
Who is eligible?
The minimum and maximum age limits for investment are 18 and 59 respectively. The Managed Pension Account is designed for international investors and is not available to residents of the UK.
Minimum premiums
-
Minimum initial premiums:
Single premium: £1,000/$1,500/€1 500.
Regular premiums:
Monthly: £350/$525/€525.
Quarterly: £1,050/$1575/€1 575.
Half-yearly: £2,100/$3,150/€3 150.
Yearly: £3,500/$5,250/€5 250.
