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Guaranteed Benefits

The Prudential Guaranteed Income Plan offers a choice of a Guaranteed Income, Guaranteed Lump sum or a combination of both options.

Flexible term

The length of term can be anywhere between 5 and 15 years to best suit the needs of your client.

Death Benefit

All plans have an inclusive lump sum death benefit at no additional cost.

Prudential Guaranteed Income Plan now available for new and existing Prudential Retirement Account clients.

Prudential Retirement Account product page

Annual Bonus Declaration

This short video outlines the Prudential Guaranteed Income Plan bonus declaration and what this means for your clients.

Case study - Maximum income option

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Case study - Combination option

View case study

About the Prudential Guaranteed Income Plan

Designed primarily for those clients who are phasing into, or are in the early years of retirement, our Guaranteed Income Plan is available for new Prudential Retirement Account clients and Trustees of UK registered pension schemes, particularly Self-Invested Personal Pension (SIPP) schemes, to invest on behalf of their scheme members. The plan can also be used by younger scheme members looking to secure a guaranteed rate of return on their pension savings.

The Prudential Guaranteed Income Plan is an income-producing product that can help meet client's retirement income planning needs. It also offers a guaranteed lump sum option, or a combination of income and lump sum guarantees.

Using part of their pension fund to purchase a fixed term income while the rest of the pot remains invested, can work for clients looking for a phased retirement – to top up their income levels – but also for clients looking to retire now who don’t want, or need, to commit their pension fund to a lifetime annuity.

It can complement other retirement solutions, as part of a structured approach, and balances the need for certainty of income or returns and financial freedom. And the combination of income and/or lump sum guarantees, as well as a cash-in option and a death benefit, provides reassurance and peace of mind.

The Guaranteed Income Plan is backed by an investment strategy within the Prudential Assurance Company Limited (PAC) With-Profits Fund focused on fixed income assets. This approach aims to provide stability to support the underlying income and lump sum guarantees and provides potential for the plan to pay a little more income and / or lump sum than the guaranteed amounts.

As a financial adviser, you can instruct Trustees to purchase a Guaranteed Income Plan on your client’s behalf.

The three options available:

Maximum income

  • A guaranteed income will be paid for the duration of the Plan term.
  • We’ll never pay less than this but some years we might be able to pay a little more.
  • There won’t be any money left at the end, but this option provides the highest guaranteed income.

Maximum lump sum

  • A guaranteed lump sum will be paid at the end of the Plan term.
  • We’ll never pay less than this but we might be able to pay a little bit more.
  • There won’t be any income paid, but this option provides the highest guaranteed lump sum.

Combination (Regular income with lump sum)

  • We’ll guarantee to return up to the full amount of the investment at the end of the term and will provide a guaranteed income in addition to this.
  • The guaranteed income will be less than under the maximum income option.
  • We’ll never pay less than the guaranteed income but some years we might be able to pay a little more.
  • We’ll never pay less than guaranteed lump sum selected at outset but we might be able to pay a little bit more.

Trustee Registration

For Trustees to register a scheme with the Prudential Guaranteed Income Plan.

Register a scheme

Trustee Portal

For Trustees to manage applications to their scheme.

Trustee portal

Key elements

Eligibility criteria

Trustee:

  • Trustees of UK Registered Pension Schemes

Scheme member:

  • Minimum Age 40
  • Maximum Age: None

Contributions

  • Minimum investment: £10,000
  • Maximum investment: £1 million*

*If your client would like to pay in more than this, please contact us to discuss.

Term

  • Minimum Term: 5 years
  • Maximum Term: 15 years
  • Part years in whole years and months are also available to target specific dates (for example 8 years and 5 months).

Payment date

  • Income is paid to the Scheme.
  • Payment dates depend on the date funds are received and the payment frequency e.g. the member sets up income monthly in arrears – funds are received and the Plan is set up on 1 March, so the first income payment will be made on 31 March.
  • There is no option to select a specific payment date.

Case studies

Building trust and long-term relationships is part of your everyday. Whether your client is looking for a guaranteed income, a lump sum at the end of the term, or a combination of both, the Prudential Guaranteed Income Plan offers flexible options to suit different financial needs.

Explore the case studies below to see how each option can work in practice, helping to deliver confidence and certainty for your clients.

Features

Our Guaranteed Income Plan offers your clients:
 
  • Benefit options – a choice of a regular income, a lump sum at the end of the term, or both.

  • Guaranteed income – calculated at the start of the Plan and guaranteed to be paid each year, over the term. We’ll never pay less but some years we might be able to pay a little more.

  • Guaranteed lump sum – the certainty of a guaranteed amount at the end of the fixed term, We’ll never pay less but we might be able to pay a little more.

  • Income choices – income can be taken monthly, quarterly, half-yearly or annually, in advance or in arrears.

  • Length of term to suit individual circumstances – the fixed term can be anything from 5 to 15 years.

  • Full withdrawal option – unlike a lifetime annuity, funds can be accessed if needed. The amount paid will be based on the value of the remaining benefits at that time.

  • Death benefit – on death before the end of the fixed term, funds can be passed on. The amount paid, will be based on the value of the remaining benefits at the date of death.

  • Adviser charging options – set-up and ongoing adviser charge options are available.

  • Flexibility – a range of retirement options is available at the end of the fixed term including drawdown, a fixed or lifetime annuity, or a combination of these.

Risks

  • Once the Plan has started, the benefits and income options selected cannot be changed.

  • Where a guaranteed lump sum is selected, we guarantee the amount at the end of the term, but we can't guarantee what income this will provide in future.

  • This is a single life plan so any income will stop on death and a lump sum death benefit returned to the Scheme Trustee.

  • Although we may pay a little more than the guaranteed income some years, the income paid may not keep up with inflation.

  • To provide the guaranteed elements (income and lump sum) the Plan is invested in a range of relatively cautious assets. Alternative products can give more freedom to invest in assets that could deliver a higher return.

  • The cash-in and death benefit values will change over time as market conditions change and may be less than the investment amount, or the total amount payable over the term. They may also be less than needed at that time to replace the remaining guaranteed benefits payable.

List of schemes

Contact your account manager for information about which Schemes will accept Prudential Guaranteed Income Plan as an investment.

The Information shown is correct as at 10/02/2026 and may change.

SIPP Scheme Name Provider/Operator PSTR
@SIPP @SIPP 00605760RT
A J Bell Investcentre SIPP A J Bell 00605674RH
Aberdeen Self Invested Personal Pension Scheme Aberdeen 20008277RL
Curtis Banks 2005 SIPP Curtis Banks 00605461RH
Curtis Banks Full SIPP Curtis Banks 00605778RB
Curtis Banks SIPP Curtis Banks 00740779RV
Dentons SIPP Dentons Pensions 00616046RN
Fusion SIPP Curtis Banks 00802858RH
Fusion Wealth eSIPP Curtis Banks 00720056RZ
Horizon SIPP Curtis Banks 00715833RP
IPM Personal Pension Scheme IPM 00605673RE
MasterSIPP Pooled Suffolk Life t/a Curtis Banks 00690610RC
MasterSIPP Protected Rights Suffolk Life t/a Curtis Banks 00690610RC
MJ Field SIPP XPS 00605667RM
Montpelier Full SIPP Curtis Banks 00623075RB
Organon Sipp Organon 00720602RS
Pathfinder Private Pension Curtis Banks 00605786RW
SJP SIPP Curtis Banks 00605638RD
Smart SIPP Suffolk Life t/a Curtis Banks 00690610RC
Talbot & Muir 2016 SIPP Talbot & Muir 00830023RQ
Talbot & Muir Elite Retirement Account Talbot & Muir 00605717RZ
Temple Quay SIPP Curtis Banks 00605660RY
The Curtis Banks 2002 SIPP Curtis Banks 00605461RH
The Invinitive UK SIPP Invinitive 20007274RW
The Minerva SIPP InvestAcc 00605996RN
The Options SIPP Embark 00712182RN
The Pointon York SIPP Curtis Banks 00605325RV
The Premier Single Investment Trust D A Phillips & Co Ltd (DP Pensions) 00605999RW
The Premier SIPP Talbot & Muir 00605693RM
The Premier Trust D A Phillips & Co Ltd (DP Pensions) 00605999RW
The Prudential Pension Scheme M&G 00827946RB
The PY SIPP Curtis Banks 00605328RH
The XPS Self Invested Personal Pension XPS 00605307RT
The XPS SIPP XPS 00692718RF
Westerby Sipp Westerby Trustee Servies Ltd 00605704RH
Yorsipp Limited Yorsipp 00605762RC
Your Future SIPP Suffolk Life t/a Curtis Banks 00690610RC

SSAS Providers

Each SSAS will need to register with us individually.

Key Documents

Adviser documents

Client and Trustee documents

Charges & Costs

Our Guaranteed Income Plan can facilitate both set-up and ongoing Adviser Charges, on instruction from the Trustee. All charges are agreed between yourself and your client.

  • Set-up advice charge – the maximum set-up advice charge is 5% of the investment, with an upper limit of £30,000. This charge is taken from the investment amount and paid to you, before calculating your clients benefits.
  • Ongoing advice charge – this can only be facilitated if income is being taken. The maximum ongoing advice charge is 1% of the investment amount, less any set-up adviser charge, deducted from income and paid to you, before income is paid to the Trustees. The frequency of ongoing advice charge payments will be the same as the frequency of income payments.

The charges we take are factored into the calculation of the guaranteed benefits, which we confirm at the start of the Plan. These charges cover various costs associated with setting up and looking after the Plan, for example the cost of administration, investment management and providing the guarantees.

Tools

Prudential Guaranteed Income Plan Calculator

This tool allows you to see the guaranteed income and/or lump sum that can be provided by our Guaranteed Income Plan for a range of different scenarios.

Use the Prudential Guaranteed Income Plan Calculator

Online services

Obtain a new business quote for the Prudential Guaranteed Income Plan or manage client servicing.

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"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at 5 Central Way, Kildean Business Park, Stirling, FK8 1FT. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company Limited. The Prudential Assurance Company Limited and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc which is a holding company registered in England and Wales with registered number 11444019 and registered office at 10 Fenchurch Avenue, London EC3M 5AG, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.