Personal Pension Transfer Plan

If you want to exercise your Open Market Option to purchase a Pension Annuity from Partnership, you may first wish to withdraw up to 25% of your pension fund as your Pension Commencement Lump Sum (PCLS). Normally the originating pension scheme will pay this amount but there are some instances where they are unable to do this.

The Personal Pension Transfer Plan acts as a vehicle for releasing this money to you. The funds are transferred into it from your originating pension scheme, the PCLS is paid to you and the remaining monies are used to purchase a Pension Annuity.

Suitable if:

• You wish to withdraw your PCLS but your originating scheme is unable to pay this out
• You want to take advantage of the enhanced annuity rates that partnership can offer you because of your health