Pru FRP - Income Drawdown with SIPP Options

The income drawdown plan within Pru's Flexible Retirement Plan (FRP) offers the following benefits for you and your clients:

Client benefits:

• Account style structure with a personal pension and income drawdown under a single product wrapper, allowing ease of transition between saving for retirement and taking income, when the client needs it.
• Other pension funds can be transferred into the Pru FRP Income Drawdown, so savings can be kept in one pot and your clients may be rewarded for building up funds under the Pru FRP.
• AMC discounts depending on the size of the fund and length of time invested in the plan. The SIF and the FRP Holding Account are excluded in the calculation of fund size but time in the SIPP options counts towards the loyalty discount for the length of time invested. Find out more
• Choice of investment options to suit different attitudes to risk and objectives, including portfolio funds and SIPP options.
• Consistency of investment choice for those clients moving into income drawdown from our personal pension option. Find out more
• Flexibility to phase retirement by gradually moving into income drawdown or by splitting your client's pension fund between income drawdown and annuity purchase.
• Ability to control your client's level of income to suit their individual tax circumstances, including electing to take maximum income, no income or something in between, as well as a mixture of tax free cash and then income every year.
• Opportunity to pass on the pension fund to beneficiaries upon death, subject to a tax charge.
• Transparent charging structure, designed to provide your client with clarity over the cost of advice. Find out more
• No charges for the SIPP unless it's activated.
• Protected Rights can be held under FRP and used for income drawdown (subject to maximum income limits). Find out more about Protected Rights
  

Adviser benefits:

• Range of fully flexible and transparent charging structures which can be tailored depending on remuneration requirements. Find out more
• You can take ad hoc fees from the SIPP as agreed with your client.
• Trail commission provides a revenue stream to help your business model based on the ongoing advice clients will require.
• Protected Rights can be held under a single FRP, making your life easier in terms of administration as the entire pension fund is held in one place. Find out more
• We offer a leading range of annuities with an easy transition from our Income Drawdown plan into annuitisation.
• Access to a wide range of investment options to suit your clients' varying needs, including PruFund and our wider range of core multi-asset funds managed by the Portfolio Management Group, and the PruSelect fund range. Find out more
• Our Dynamic Portfolios giving you access to a unique combination of experts for asset allocation and fund selection - Prudential's Portfolio Management Group working with Old Broad Street Research to provide a choice of five portfolios.
• Access to our SIPP options, administered by Suffolk Life, for clients seeking greater investment freedom
• Wide range of in-house and external funds plus SIPP options for advisers and clients who are looking for a diversified and higher risk investment portfolio. Find out more
• If you are looking to consolidate your client's existing pension plan(s) into the Pru FRP before selecting Income Drawdown we can help.
• Prudential can help you transfer your clients' existing pension pots and income drawdown plans across to the Pru quickly and efficiently. On your behalf we will progress the transfer at every step, limiting the delay in your client receiving benefits.
• Range of online tools and calculators to help you understand our product and how it can benefit your clients. View tools
• Comprehensive range of marketing literature, including client case studies, approach letters and suitability paragraphs to help you with client segmentation, targeting and the end to end sale.
• Experienced customer service team dedicated to our income drawdown product with over 10 years expertise in this market
• Local account management support from our regional sales units