Total Value Of Retirement Account | Yearly Product Charge After Discount |
£0 - £99,999 | 0.30% |
£100,000 - £249,999 |
0.20% |
£250,000 - £499,999 |
0.15% |
£500,000 - £749,999 |
0.15% |
£750,000 - £999,999 |
0.125% |
£1,000,000+ |
0.10% |
With their unique smoothing mechanism and globally diversified multi-asset portfolios
Providing the full suite of flexible retirement options post pension freedoms with access to over 300 funds
Digital capability allowing advisers to complete all new business and ongoing servicing online
A personal pension with two parts, the Pension Savings Account and the Pension Income Account. Your clients can choose to invest in either or both of these parts. We also offer the flexibility to phase taking money from the Pension Savings Account to the Pension Income Account.
Eligibility criteria
Contributions
The Retirement Account offers a wide range of investment choices. Your client can hold any combination of investment options including our established PruFund range of funds and hundreds of collective funds within one pension.
For more information on the available funds please see our Retirement Account fund list.
Our range of globally diversified, expertly managed multi-asset solutions, offering the potential for growth. Their established smoothing mechanism aims to provide clients with a less volatile investment experience.
The risk-managed range of funds aims to achieve the right mix for your client’s portfolio with a balance of cost, investment styles and a choice of five risk levels.
There are two ranges: Risk-Managed Active and Risk-Managed Passive. The funds are available across a wide range of platforms.
ESG funds, OEICs, direct investment in UK stocks and shares and exchange traded funds.
We will make an annual charge for administering the Retirement Account, taken monthly as a percentage of the Fund Value. The Fund Value may be eligible for a Fund Size Discount.
Total Value Of Retirement Account | Yearly Product Charge After Discount |
£0 - £99,999 | 0.30% |
£100,000 - £249,999 |
0.20% |
£250,000 - £499,999 |
0.15% |
£500,000 - £749,999 |
0.15% |
£750,000 - £999,999 |
0.125% |
£1,000,000+ |
0.10% |
The product charge is taken from all investments in the Retirement Account, including the Cash Account, and is deducted differently depending on the type of investment. Charges may vary in future.
PruFund
Cash Account and Collectives
For more information, including the charges and Fund Size Discounts, please see our Fast Facts document.
Yearly charge
This is a charge for looking after the investment. This may vary between funds and may change throughout the lifetime of the Retirement Account. Where your client has invested in PruFund, this charge can also be referred to as an Annual Management Charge.
You can download our Fund List to see the Yearly Charges that apply.
Further costs
There are other costs that aren’t covered by the yearly charge. These can include, for example, maintenance costs for property investments and costs associated with investing in infrastructure, such as utilities, transport and renewable energy. These costs can vary over time.
For external funds, they are described as "ongoing charges" and quoted as a percentage in the Key Investor Information Documents (KIIDs).
Additional information on Further costs for our PruFund range is available in the PruFund Fund Guide.
For all fund types, the charge is calculated daily and reflected in the fund's price.
The PruFund Protected Funds are currently unavailable to new investments.
There is a charge for both types of guarantee, taken monthly. The price paid is set when your client takes out a guarantee and applies for the length of time the guarantee is in place. Although our guarantee charges may vary in the future for other investments, your client will continue to pay the charge fixed at the beginning of their guarantee.
If a new guarantee is taken out, a different charge may apply.
If your client turns off a guarantee, they can't have another guarantee of the same kind for 12 months unless:
Guarantees will automatically come to an end on your client's death and can't be passed on to any beneficiaries.
The Retirement Account offers flexible adviser charging options, which you can tailor to your business model and client requirements.
Initial Adviser Charge
Ad hoc Adviser Charge
Ongoing Adviser Charges
Charges made for Stocktrade Investments are:
Trading |
Min. Fee |
Fee % |
Max Fee |
Online Trading |
£15 |
0.5 |
£75 |
Offline Trading |
An additional charge of £30 per trade will be applied where a trade is requested offline (phone, email, fax). |
Nominee
Nominee charges of £20 per quarter (payable in January, April, July & October) will also apply. There is no charge for transfer in of UK stocks but a £15 stock transfer out charge will apply.
The signed document must include an audit review summary page that confirms:
The form will not be accepted if it does not include the audit review summary page.
We can only accept application forms and documentation from the following approved e-signature providers:
For more information, please contact your Prudential Account Manager.