Retirement Account | PruAdviser
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Access to the PruFund range of funds

With their unique smoothing mechanism and globally diversified multi-asset portfolios

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All in one retirement solution

Providing the full suite of flexible retirement options post pension freedoms with access to over 300 funds

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Online servicing

Digital capability allowing advisers to complete all new business and ongoing servicing online

About the Retirement Account

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.

Pension Savings Account

  • Contributions into your Pension Savings Account go into a 'cash account' before being invested. If we receive interest on the amount in your cash account, we will normally add the interest paid by the bank to your cash account monthly in arrears. The interest rate on the Cash Account is 0.07% below the current Bank of England base rate.
  • Contributions and transfers are paid in and invested in this account, with the exception of drawdown to drawdown transfers which are invested straight into the Pension Income Account.
  • Taken from the normal minimum pension age (currently 55, 57 from 6 April 2028), UFPLS (Uncrystallised Funds Pension Lump Sums) can be withdrawn from the Pension Savings Account.
  • Every time your client takes a UFPLS, 25% will usually be tax-free and the rest of the money will be treated as a source of income and taxed accordingly.

Pension Income Account

  • Investments from the Pension Savings Account are moved to this account to access drawdown and tax-free cash.
  • Up to 25% of the amount can usually be taken tax-free, then the rest can be taken as taxable income if required.
  • Transfers from other drawdown plans are paid in and invested here.

Key elements

Eligibility criteria

  • The Retirement Account is available to anyone who is a resident of the United Kingdom. It can be opened up on behalf of children under the age of 18. 
  • Clients can make payments into the Retirement Account until they are aged 75. 
  • Money from another pension can be transferred in before and after the age of 75.

Contributions

  • There is no maximum contribution or transfer amount, but for any requests to invest a total of £1 million or more, please contact your account manager. 
  • Contributions must be made in Sterling from a UK bank account.

Features

  • Helps your client save for retirement in a tax-efficient way using either a Pension Savings Account or a Pension Income Account.

  • Offers both Flexi-Access Drawdown and Capped Drawdown (for eligible customers) options.

  • This product allows single or regular contributions and withdrawals and the ability to take a lump sum.

  • Other pensions can be transferred in, to consolidate your client’s pension provision in one place.
  • The ability to choose from a wide range of investment options, including our PruFund range of funds and hundreds of collective funds within one pension.

  • Contributions can be made by the client, their employer, a third party or by transferring money from an existing pension scheme.

  • There is no maximum contribution or transfer amount, but for any requests to invest a total of £1 million or more, please contact your account manager. 

  • Contributions must be made in Sterling from a UK bank account.

  • It offers your client flexibility to change their retirement income in the future if their circumstances change.

  • Your client can monitor their Retirement Account online at any time by registering for our Retirement Account Online Services.

Risks

  • Withdrawals could deplete the fund before death, your client could run out of money in their lifetime. 

  • The value of your client’s investment could go down as well as up. They may not get back what they have paid in.

  • Inflation will affect the value of the money your client gets back.

  • If the total of charges and costs are higher than the investment growth, your client's plan will fall in value. Charges may also increase in future. 

  • The amount of income your client takes could push them into a higher tax bracket.

  • If your client is transferring their pension to us, there is no guarantee that the overall amount they receive will be as high as what they could have received from their previous provider, also any guaranteed rates that they had with their previous provider will not be transferred.

Key documents

Access all documents

Investment options

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.

New funds now in Retirement Account

ISIN

Fund name

GB00B81C8395

BNY MELLON MULTI-ASSET DIVERSIFIED RETURN "W" ACC

GB00BP851Q49

BNY MELLON MULTI-ASSET INCOME "W" ACC

GB00BRJTS680

BNY MELLON MULTI-ASSET MODERATE "W" ACC

GB00B8454P92

BNY MELLON MULTI-ASSET GROWTH "W" ACC

IE00BYTYTV40 DIMENSIONAL WORLD ALLOCATION 20/80 (GBP) ACC
IE00B56FVB15 DIMENSIONAL WORLD ALLOCATION 40/60 (GBP) ACC
IE00B416SD35 DIMENSIONAL WORLD ALLOCATION 60/40 "GBP" (GBP) ACC
IE00BYTYV184 DIMENSIONAL WORLD ALLOCATION 80/20 (GBP) ACC
IE00B3Z8MM50 DIMENSIONAL WORLD EQUITY "GBP" (GBP) ACC

GB00BYVXBH99

HSBC GLOBAL STRATEGY ADVENTUROUS PORTFOLIO "C" ACC

GB00B76WP695

HSBC GLOBAL STRATEGY BALANCED PORTFOLIO "C" ACC

GB00B84DV184

HSBC GLOBAL STRATEGY CAUTIOUS PORTFOLIO "C" ACC

GB00BYVXBK29

HSBC GLOBAL STRATEGY CONSERVATIVE PORTFOLIO "

GB00B849DT80

HSBC GLOBAL STRATEGY DYNAMIC PORTFOLIO "C" ACC

LU2092165666 HSBC ISLAMIC GLOBAL EQUITY INDEX "BC" (GBP) ACC
GB00BLKQCX12 HSBC GLOBAL SUSTAINABLE MULTI-ASSET ADVENTUROUS PO "C" (GBP) ACC
GB00BF1H4F75 HSBC GLOBAL SUSTAINABLE MULTI-ASSET BALANCED PORTF "C" (GBP) ACC
GB00BLKQD051 HSBC GLOBAL SUSTAINABLE MULTI-ASSET CAUTIOUS PORTF "C" (GBP) ACC
GB00BF1H4H99 HSBC GLOBAL SUSTAINABLE MULTI-ASSET CONSERVATIVE P "C" (GBP) ACC
GB00BLKQDC73 HSBC GLOBAL SUSTAINABLE MULTI-ASSET DYNAMIC PORTFO "C" (GBP) ACC

GB00B9751744

LEGAL & GENERAL MULTI-INDEX 3 "I" ACC

GB00B88Y0217

LEGAL & GENERAL MULTI-INDEX 4 "I" ACC

GB00B8VZ3F59

LEGAL & GENERAL MULTI-INDEX 5 "I" ACC

GB00B95KML23

LEGAL & GENERAL MULTI-INDEX 6 "I" ACC

GB00B9LF0M88

LEGAL & GENERAL MULTI-INDEX 7 "I" ACC

GB00BS3F1827

M&G CHINA FUND "PP" ACC

GB00BN6V0967

M&G ESG SCREENED GLOBAL CORPORATE BOND FUND STERLING PP ACC

GB00BJRCD803

M&G ESG SCREENED GLOBAL HIGH YIELD BOND "PP-H" (GBPHDG) ACC

GB00BPSN8T09

M&G GLOBAL AI THEMES "I" (GBP) ACC

GB00BS44CX09

M&G GLOBAL COPORATE BOND FUND PP STERLING ACC

GB00BJXT7941

M&G INDEX TRACKER "I" (GBP) ACC

GB00BSD47J29 

M&G INDIA FUND PP GBP ACC

GB00BRX95B82 ORBIS OEIC GLOBAL CAUTIOUS "FFE" (GBP) ACC
GB00BRX95962 ORBIS OEIC GLOBAL BALANCED "FFE" (GBP) ACC
GB00B79LTQ12  ROYAL LONDON SUSTAINABLE DIVERSIFIED TRUST "C" (GBP) ACC
GB00B882H241 ROYAL LONDON SUSTAINABLE WORLD TRUST "C" (GBP) ACC E

GB00BF77ZS12

SCHRODER BLENDED PORTFOLIO FUND 3 "Z" (GBP) ACC

GB00BF77ZT29

SCHRODER BLENDED PORTFOLIO FUND 4 "Z" (GBP) ACC

GB00BF77ZV41

SCHRODER BLENDED PORTFOLIO FUND 5 "Z" (GBP) ACC

GB00BF77ZW57

SCHRODER BLENDED PORTFOLIO FUND 6 "Z" (GBP) ACC

GB00BF77ZX64

SCHRODER BLENDED PORTFOLIO FUND 7 "Z" (GBP) ACC

GB00BF77ZY71

SCHRODER BLENDED PORTFOLIO FUND 8 "Z" (GBP) ACC

GB00B4K1MN77

SCHRODER INCOME PORTFOLIO "Z" (GBP) ACC

GB00BZCR4B23 SCHRODER GLOBAL MULTI ASSET CAUTIOUS PORTFOLIO "F" (GBP) ACC
GB00BZCR4C30 SCHRODER GLOBAL MULTI-ASSET MODERATELY CAUTIOUS PORTFOLIO "F" (GBP) ACC
GB00BZCR4F60 SCHRODER GLOBAL MULTI-ASSET BALANCED PORTFOLIO "F" (GBP) ACC
GB00BZCR4G77 SCHRODER GLOBAL MULTI-ASSET GROWTH PORTFOLIO "F" (GBP) ACC
GB00BZCR4H84 SCHRODER GLOBAL MULTI-ASSET ADVENTUROUS PORTFOLIO "F" (GBP) ACC

GB00BMCQRZ38

VANGUARD ACTIVELIFE CLIMATE AWARE 40-50A EQUITY "A" (GBP) ACC

GB00BZ830054

VANGUARD ACTIVELIFE CLIMATE AWARE 60-70A EQUITY "RET" (GBP) ACC

GB00BMCQS161

VANGUARD ACTIVELIFE CLIMATE AWARE 80-90A EQUITY "A" (GBP) ACC

GB00BYW8VG25

VT AJ BELL ADVENTUROUS "I" (GBP) ACC

GB00BYW8RX12

VT AJ BELL BALANCED "I" (GBP) ACC

GB00BYW8RV97

VT AJ BELL CAUTIOUS "I" (GBP) ACC

GB00BD833W40

VT AJ BELL GLOBAL GROWTH "I" (GBP) ACC

GB00BH3W7446

VT AJ BELL INCOME "I" (GBP) ACC

GB00BH3W7883

VT AJ BELL INCOME & GROWTH "I" (GBP) ACC

GB00BYW8VL77

VT AJ BELL MODERATELY ADVENTUROUS "I" (GBP) ACC

GB00BYW8VJ55

VT AJ BELL MODERATELY CAUTIOUS "I" (GBP) ACC

GB00BN0S2V92

VT AJ BELL RESPONSIBLE SCREENED GROWTH "I" (GBP) ACC

IE00BGYBYD13 WAVERTON MULTI-ASSET INCOME "P" (GBP) ACC
IE00050A6XH2 WAVERTON MULTI-ASSET BALANCED "P" (GBP) ACC
IE000WV2Q181 WAVERTON MULTI-ASSET CAUTIOUS "P" (GBP) ACC
IE000YLWOBH3 WAVERTON MULTI-ASSET DEFENSIVE "P" (GBP) ACC
IE00BMVHFV96 WAVERTON MULTI-ASSET GROWTH "P" (GBP) ACC

Charges & costs

Tools

Retirement Modeller

Explore planning scenarios across your client’s full retirement journey with Prudential’s Retirement Account.

Capped Drawdown GAD Calculator

Find out the monthly gilt yield and the impact of this on the amount of income your client could take from capped drawdown.

e-Signature

 

The signed document must include an audit review summary page that confirms:

  • Unique document identifier

  • The names/email addresses of the parties that have e-signed a document

  • The dates and times it was e-signed
  • The IP address of the location that it was signed, additionally it may contain the MAC address of the electronic devide that was used 

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:

  • Acrobat Sign (Adobe)
  • AlphaTrust
  • DocuSign
  • Dropbox Sign
  • E-Sign
  • Foxit
  • GlobalSign
  • legalesign
  • NitroSign
  • OneSpan Sign
  • PandaDoc
  • Rsign
  • signNow
  • Scrive
  • Signable
  • Zoho

For more information, please contact your Prudential Account Manager.

Online services

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