With their unique smoothing mechanism and globally diversified multi-asset portfolios
Access to lower risk funds with potential for growth
Available via a smoothed investment allowing clients to protect against sequence of returns risk
Our Trustee Investment Plan (TIP) is for Trustees of UK registered Occupational Pension Schemes and Self Invested Personal Pension Schemes (SIPPs). It allows Trustees to invest in our range of funds – to grow investments over the medium to long term.
Investments from SIPPs will be set up for a named individual – known as a “member designated” plan. Other UK registered Occupational Pension Schemes can also designate the plan to an individual member if they wish to do so. However, plans can only be member designated at the start of the plan. Clients can only access the With-Profits Fund if the plan is member designated.
For member designated plans:
Maximum investment is normally £1,000,000. We may accept higher value contributions on request. For plans set up from 7 November 2011, there is no set investment term. For plans set up before this date, Selected Investment Term (SIT) applies.
Trustees can:
Full and partial withdrawals from the With-Profits Fund may incur an MVR.
The Trustee Investment Plan (TIP) offers access to a broad range of funds, including Prudential’s Multi-Asset funds, With-Profits Fund and the PruFund range of funds, managed by the M&G Treasury & Investment Office (T&IO), experts in asset allocation and multi-asset fund management.
Trustees can select to invest in a maximum of six funds under each TIP plan and fund choices can be changed at any time. Each PruFund counts as two funds – see the Key Features document for more information.
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 aim to achieve the right mix for your client’s portfolio with a balance of cost, investment styles and a choice of risk levels.
There are two ranges: Risk-Managed Active and Risk-Managed Passive. The funds are available across a wide range of platforms.
The Trustee Investment Plan allows trustees of SIPPs and Occupational Schemes outside of Prudential to invest in our With-Profits Fund. The Prudential With-Profits Fund is designed to spread investment risk by investing in a range of different assets. In addition, through the bonus process, we'll continue to smooth some of the extreme ups and downs of short-term investment performance.
Access additional internally and externally managed funds, which offer a range of assets to suit differing client needs.
Find out more about fund availability.
Find out more about the performance of the funds.
We will take a charge every year for managing the plan and investments. The amount charged will depend on the funds your client invests in.
Further information on how much we charge for each fund can be found in the TIP Fund Guide which you can share with clients.
Discounts are applied to the basic AMC based on the size of the fund (Fund Size Discount):
| Fund Size | AMC Discount |
| Less than £100,000 | 0.35% |
| £100,000 - £149,999 |
0.40% |
| £150,000 - £249,999 |
0.45% |
| £250,000 – £499,999 |
0.475% |
| £500,000 – £749,999 |
0.50% |
| £750,000 - £999,999 |
0.525% |
| £1m and over |
0.55% |
The discount to the AMC will apply to the whole of the investment, not just the portion above the threshold levels.
For more information on Fund Size Discounts see the Fast Facts document.
There are other costs which aren't covered by the Annual Management 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 can vary over time.
Where these further costs are applicable, they’re paid for by the fund and will impact on the overall performance. Further information on the charges and costs for each fund can be found in the Fund Guide.
The PruFund Protected Funds are currently unavailable to new investments.
Find out more about the charges for guarantees on our With-Profits Fund.
Market Value Reduction
For investments in the With-Profits Fund, an MVR may apply if the client withdraws funds, switches funds or if the plan is cashed in. However, we offer an MVR-free guarantee:
*Investments in the With-Profits Fund are only available if the TIP has been set up for a named individual - 'member designated'.
Adviser charges are broken down into:
Adviser charges must be in accordance with HMRC rules and will be tested to ensure they do not exceed the relevant limit for the TIP.
This process applies to the Trustee Investment Plan – Series A (TIP)
The table below sets out the process and any relevant further information for each type of application. Applications need not be signed unless the scheme’s internal processes require.
If you’ve completed a paper application, this along with any other requirements should also be emailed to us in the same way.
| Service Request | PruAdviser Download Form | Request Via Letterheaded Paper |
| New Business Application | Yes | No |
| Withdrawal of Units | Yes | Yes |
| Adviser Charge Alteration (changes to OAC% only) | Yes | Yes |
| Fund Switch | Yes | Yes |
| Monetary Withdrawal | Yes | Yes |
| Change to Regular Income | No | Yes |
| Cancellation | Available on request | Yes |
| Authorised Person for Submission of Signatureless | Scheme Trustee/Administrator | Scheme Trustee/Administrator |
| Submission |
The email must clearly evidence that it is from the scheme trustee/administrator, for example it is from the company's email address and contains the company logo Complete Form Accompanying documentation
|
The email must clearly evidence that it is from the scheme trustee/administrator, for example it is from the company's email address and contains the company logo Letterheaded Instruction Accompanying documentation |
The use of a signatureless process removes the need for you to obtain a ‘wet’ signature from trustees. Nevertheless, if their internal process requires a signature then you should continue to follow this process.
This process will be reviewed regularly and may change in the future.
However, we'll only accept submissions of signatureless requests from the scheme trustee/administrator.
© Prudential 2024
"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.
