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PruAdviser is now part of M&G plc, so we’ve been upgrading our website. You’ll no longer see pruadviser.co.uk in your browser address bar, or indeed if you have used a search engine (eg google), you’ll now see mandg.com/pru/adviser.
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Single premium investment for trustees of UK registered Occupational Pension or Self-Invested Personal Pension (SIPP) schemes.
The value of an investment can go down as well as up. Your client could get back less than they paid in.
Our Trustee Investment Plan 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.
Full and partial withdrawal from the With-Profits Fund may incur a MVR.
See the Key Features Document (PDF) for more information.
A TIP can be used within a Self-Invested Pension Plan (SIPP) to meet a client's income drawdown requirements.
For example, a client with a SIPP could use TIP to provide their income drawdown payments. This allows the client to invest remaining funds within the SIPP or other investments that suit their needs and attitude to risk.
Within a TIP, funds can be invested in PruFund (PDF) to help provide an income. The Net Expected Growth Rate (EGR) can help cover drawdown payments.
The Capped Drawdown GAD can help with calculations relating to income drawdown.
The Trustee Investment Plan (TIP) offers access to a broad range of funds, which includes Prudential’s Multi-Asset funds – With-Profits Fund and PruFund range of funds – which are managed by the M&G Treasury & Investment Office (T&IO), experts in asset allocation and multi-asset fund management.
Fund choices can be changed at any time. The trustee can select to invest in a maximum of six funds under each TIP plan. Note each PruFund & SafeGuard fund counts as two funds - see the Key Features document (PDF) for more.
For plans set up from 7 Nov 2011, there is flexibility to invest for as long as required.
The Trustee Investment Plan allows trustees of SIPPs and Occupational Schemes outside of Prudential to invest in our PruFund range of funds and With-Profits Fund.
These multi-asset funds are not widely available.
These funds:
Find out more about the PruFund range of funds (PDF).
Find out more about the With-Profits fund (PDF).
Access additional internally and externally managed funds, which offer a range of assets to suit differing client needs.
Find out more about fund availability (PDF).
Find out more about the performance of the funds.
In an uncertain economic climate, clients may look for additional security for their investment. To address this, we offer guarantee options within our TIP.
The PruFund Protected Funds are currently unavailable to new investments.
We offer guarantees for the PruFund Protected Cautious Fund and PruFund Protected Growth Fund . At the end of the selected guarantee term the fund will be worth at least the amount your client invested (subject to charges, enhancements or withdrawals).
For investments in the With-Profits Fund, we offer a Market Value Reduction-free guarantee on any regular withdrawals or on death.
For plans set up before 7 November 2011, we guarantee not to apply an MVR when the plan is cashed in at the end of the Selected Investment Term.
The main charges are :
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 (PDF) which you can share with clients.
Discounts are applied to the basic Annual Management Charges based on the size of the fund (Fund Size Discount):
Fund Size | AMC Discount |
Less than £100,000 | 0.350% |
£100,000 - £149,999 | 0.400% |
£150,000 - £249,999 | 0.450% |
£250,000 – £499,999 | 0.4750% |
£500,000 – £749,999 | 0.500% |
£750,000 - £999,999 | 0.525% |
£1m and over | 0.550% |
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 (PDF).
The PruFund Protected Funds are currently unavailable to new investments.
Find out more about the charges for guarantees on our With-Profits Fund
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.
© Prudential 2022
"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. 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.